ImpactAlpha, December 22 — Sao Paulo-based Creditas has raised $255 million in a Series E investment round led by impact investor LGT Lightstone. The new equity round values the company at $1.75 billion.
The consumer lending startup, launched in 2012 by former Boston Consulting Group and Deutsche Bank executive Sergio Furio, aims to improve Brazilians’ access to credit. Borrowers can secure low-interest by putting up their cars, homes and other assets as collateral.
The startup has originated nearly $200 million in loans to date, nearly doubling its reach since 2018 (see, “Endeavor Catalyst backs Brazilian lending platform Creditas”).
Creditas will use the financing to expand its loan portfolio and market footprint to Mexico. Participating investors include SoftBank, Amadeus Capital Partners, Tarsadia Capital, Wellington Management and Vostok Emerging Finance.