Creditas hits $4.8bn valuation on back of $260m funding round

Ellie Duncan
26 Jan 2022

Brazilian fintech platform Creditas has been valued at $4.8 billion after it raised $260 million in a Series F financing round in which new investor Fidelity Management and Research Company participated.

The funding round included other new investors Spanish fintech fund Actyus and Greentrail Capital, while current shareholders QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightrock, Headline, Wellington Management and Advent International, via its affiliate Sunley House Capital, also participated.

It brings the total equity raised by Creditas to $829 million across six different fundraising rounds.

The company provides a “one-stop solution” to its customers, across fintech solutions, digital insurance and consumer solutions, and said it will use the new capital to accelerate its strategy across three areas – home, auto and employee benefits.

Sergio Furio, founder and CEO of Creditas, said: “Beyond Brazil, we are now accelerating the growth in Mexico, a market that after 18 months of operation has proven to be a strategic engine for growth.

“We believe Creditas can become a true disruptor in the Mexican market being able to democratize access to financial products and consumer solutions alike.”

The company’s loan portfolio includes real estate, vehicle and payroll-collateralised loans, while in consumer solutions, Creditas offers home renovation solutions, a proprietary online used car retail platform, Creditas Auto, and following a strategic investment in Voltz Motors, next generation EV motorcycles and scooters.

In Brazil, Creditas is the largest independent insurance broker, providing auto, residential and employment insurance in partnership with more than 16 carriers.

Furio added: “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.”