Creditas

Creditas

Creditas is a Brazilian financial technology firm offering secured consumer loans.

Creditas, formerly BankFácil, was founded in 2012 by Sérgio Furio and Leandro da Costa. Creditas, as BankFácil, started as a financial products comparator, facilitating better rates and conditions and credit lender. In 2017, they changed their name to Creditas and began offering collateralized loans. Collateral offered Creditas a way to lower interest rates for their borrowers. Collateralized loans also reduce the chance of default to less than 2%.

Creditas used the collateral - often using borrowers homes or cars - to offer home equity and auto secured loans at rates closer to those experienced in the US market.

In 2019, after raising $231 million, Creditas planned to increase their technology team to develop automation, and thereby increase the efficiency of credit application processes, and to continue to use data analytics to improve prediction, customer profiling and decision making.

Creditas acquired Creditoo in late 2019 as part of a plan to expand into payday loans.

Funding

Seed Round

In October 2013, Creditas raised $1.4 million. The financing round included Rockaway Capital and Napkn Ventures.

Series A

Creditas raised $3 million in August of 2015. Redpoint eventures led the round, which included participation from Quona Capital Management Ltd and QED Investors.

Google Launchpad Accelerator

Creditas participated in the Google Launchpad Accelerator in May 2016. They raised $50 thousand of non-equity assistance.

Series A

In a second Series A round, held in June 2016, Creditas raised $4.5 million. Redpoint eventures and Kaszek Ventures LP led the round, which included Quona Capital Management Ltd and QED Investors.

Series B

In February 2017 Creditas raised $19 million in financing. International Finance Corporation and Prosus & Naspers led the round with participation from Redpoint eventures, Quona Capital Management Ltd, QED Investors and Kaszek Ventures LP.

Series C

In a round led by Vostok Emerging Finance, Creditas raised $50 million. Participants included Kaszek Ventures, LP Quona Capital Management Ltd, Prosus & Naspers, International Finance Corporation, Santander InnoVentures, QED Investors, Endeavor Catalyst and Amadeus Capital Partners.

Series D

Creditas raised $231 million in their July 2019 funding round. SoftBank Group Corp led the round, which included participation from Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital. Creditas' post-financing valuation sat at $750 million.

Acquisitions

Creditoo

In August of 2019, Creditas acquired Creditoo for an undisclosed amount. Creditas utilized Creditoo's expertise to expand into payday loans.

Timeline

August 2, 2019

Contxto - The latest fintech news coming from Brazil is that Creditas will start offering private payroll-deductible loans following its acquisition of Creditoo.

July 11, 2019

Japan's SoftBank makes bet to challenge Brazil's concentrated banking sector

July 2019

Creditas raises a $231,000,000 series D round from Santander InnoVentures, SoftBank Group, Amadeus Capital Partners and Vostok Emerging Finance.

December 11, 2017

Swedish fund Vostok Emerging Finance led a 165 million reais ($50 million) investment in Brazilian financial-technology startup Creditas Soluções

December 11, 2017

Creditas raises a $55,000,000 series C round from Santander InnoVentures, Amadeus Capital Partners, QED Investors, International Finance Corporation, Prosus Ventures, Vostok Emerging Finance, Quona Capital, Kaszek Ventures and Endeavor Catalyst.

June 2017

Brazil's Creditas gets $19 million amid boom in local fintech financing: Reuters.

February 21, 2017

Creditas raises a $19,000,000 series B round from International Finance Corporation, Prosus Ventures, Quona Capital, Kaszek Ventures and Redpoint eVentures.

June 20, 2016

Creditas raises a $4,500,000 series A round from QED Investors, Kaszek Ventures, Redpoint eVentures and Quona Capital.

May 11, 2016

Creditas raises a $50,000 venture round.

August 3, 2015

Creditas raises a $3,000,000 series A round from QED Investors, Redpoint eVentures and Quona Capital.

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Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Creditas funding round, February 2017
Series B round
19,000,000
February 21, 2017
International Finance Corporation
Kaszek Ventures
Quona Capital
Redpoint eVentures
Prosus Ventures
Creditas funding round, June 2016
Series A round
4,500,000
June 20, 2016
Kaszek Ventures
QED Investors
Quona Capital
Redpoint eVentures
Creditas funding round, July 2019
Series D round
231,000,000
July 2019
SoftBank Group
Amadeus Capital Partners
Santander InnoVentures
Vostok Emerging Finance
Creditas funding round, December 2017
Series C round
55,000,000
December 11, 2017
International Finance Corporation
Amadeus Capital Partners
Santander InnoVentures
Kaszek Ventures
QED Investors
Quona Capital
Vostok Emerging Finance
Endeavor Catalyst
Prosus Ventures
Creditas funding round, October 2013
Seed round
1,400,000
October 18, 2013
Rockaway Capital
Napkn Ventures
Creditas funding round, May 2016
Venture round
50,000
May 11, 2016
Creditas funding round, August 2015
Series A round
3,000,000
August 3, 2015
QED Investors
Quona Capital
Redpoint eVentures
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People

Name
Role
LinkedIn

Arthur O'Keefe

Investor

Francisco S Homem de Mello

Investor

Giulia Elias Silveira

Employee

Leandro Alvares da Costa

Partner

Leonardo Andreucci

Partner

Luciano Tavares

Investor

Manoel Lemos

Investor

Pau Sabria

Advisor

Ruan Brandão

Employee

Sergio Furio

Investor

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

References

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