Vostok Emerging Finance led a US$50m investment in Creditas (formerly BankFacil). This follows a R$60m Series B earlier this year led by the IFC, with participation from Naspers’ new fintech division in Latin America, and existing investors Redpoint eventures, KaszeK Ventures, Quona Capital, and QED Investors.

(Reuters) Swedish fund Vostok Emerging Finance led a 165 million reais ($50 million) investment in Brazilian financial-technology startup Creditas Soluções Financeiras Ltda, the company said on Monday.

Creditas, founded in 2012 and specialized in providing loans with real estate or vehicles as collateral, had a 135 million loan book last year.

Founder and CEO Sergio Furio said Creditas would use the new equity raised to grow its loan book 30 fold in three years. Investors in Creditas also include Kaszek Ventures LP, Quona Capital Management Ltd, Naspers Ltd and the International Finance Corporation, the investment arm of IRBD.

Some Brazilian fintechs that recently went through fundraising rounds are financial planning app GuiaBolso and credit card provider Nubank.