Brazilian secured lending platform Creditas has hit a US$4.8 billion valuation off the back of a US$260 million Series F funding round.
Fidelity Management and Research Company, Actyus and Greentrail Capital joined the round, alongside existing shareholders QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightock, Headline, Wellington Management and Advent International, via their affiliate Sunley House Capital.
Founded in 2012, Creditas is a digital-first secured lending platform, with a mission of reducing the Brazilian consumer debt burden by offering consumer loans at more affordable rates by using borrower collateral like homes, autos and payroll.
The firm says it will use the funding to help it expand operations to deliver a complete platform including fintech products, insurance and marketplace offerings to provide a "one-stop solution for those seeking a digital-first experience in everything related to their houses, cars, motorcycles, and salary-based benefits".
Sergio Furio, CEO, Creditas, adds: “We plan to continue growing by nurturing and expanding our ecosystem, such as providing financial solutions to our marketplace customers, launching new products, extending our geographic reach (including our recent successful entry into Mexico and the expansion of our tech hub in Valencia, Spain) and selectively pursuing strategic M&A opportunities.”