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IDB Invest Provides US$30m in Debt Financing to Brazilian Fintech Creditas

3 February 2021

IDB Invest provided US$30m in debt financing to Brazilian fintech Creditas.

(IDB Invest) – IDB Invest, a member of the IDB Group, will provide a $30 million loan to Creditas, a leading secure lending platform in Brazil. The financing will increase the availability of flexible and stable long-term financing to Creditas to support the growth and sustainability of its business, while contributing to improve the maturity and structure of its debt profile. Moreover, it will provide necessary funding for the emerging fintech to scale up its business to better support small business owners and entrepreneurs in Brazil amid the COVID-19 pandemic.

The transaction falls under the collaboration agreement signed between IDB Group and SoftBank Latin America Fund with a view of promoting tech-enabled solutions for inclusion across the region. As part of the agreement, IDB Invest will provide technical assistance to boost Creditas’ financial education initiatives.

“IDB Invest is very excited to partner with Creditas as one of the digital lending pioneers in Brazil,” said James P. Scriven, CEO of IDB Invest. “We are constantly working toward our goal of improving financial conditions and access to credit to small business owners across Latin America and the Caribbean, supporting fintech that lead the sector’s technological revolution. In these unprecedented times, we want to reaffirm our commitment towards those small and medium businesses affected by the COVID-19 crisis.”

In December 2020, Creditas announced the closing of a $255 million Series-E round that valued the company at $1.75 billion. The firm has recently launched a new consumer solution vertical and expanded its secure lending business to the Mexican market.

CEO of Creditas Sergio Furio commented: “This alliance is part of our continued effort to secure funds that will enable us to continue to democratize the access to credit in Brazil. Moreover, we are also delighted to work alongside IDB Invest in expanding our financial education programs for our customers.”

This deal can potentially contribute to three United Nations Sustainable Development Goals (SDGs): No Poverty (SDG 1), Decent Work and Economic Growth (SDG 8), and Industry, innovation, and infrastructure (SDG 9).

About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $13.1 billion in asset management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Creditas
Creditas is the leading 100% digital lending and consumer solutions platform in Latin America built around three ecosystems: real estate, automotive and employee salaries and benefits. We are actively changing the credit market in Brazil and Mexico through our user experience and proprietary technology built to help our customers achieve their goals. The company’s collateralized lending portfolio integrates home equity loans, auto equity loans and payroll-deducted personal loans to create access to otherwise out of reach products and services with integrated financing and refinancing options.  Founded in 2012, Creditas employs over 1800 Crew Members and has offices in São Paulo, Porto Alegre, Recife, Valencia (Spain) and Mexico City. Creditas has raised US$570 million from international venture capital funds and recently was recognized by KPMG, Business Insider and Glassdoor rankings as one of the most promising fintech in the world.