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XP, One7, Acqio and BNDES Launch BRL400m Credit Fund

13 December 2021

XP Asset Management, in partnership with One7, Acqio and BNDES, launched a BRL400m credit fund to offer capital to Brazil-based MSMEs affected by the pandemic.

(LABSnews) XP Asset Management, XP’s asset manager, in partnership with One7, a company focused on the corporate credit industry, Acqio, a fintech that operates as an acquirer and develops payment solutions for the retail sector, and Brazil‘s National Bank for Economic and Social Development (BNDES, its Portuguese acronym), launched a credit fund about BRL 400 million to provide capital to companies that were affected during the COVID-19 pandemic.

From the total, BRL 320 million will be infused by BNDES, BRL 60 million will come from funds managed by XP Asset, and BRL 20 million from One7.

The fund is the outcome of a call for proposals launched by the BNDES in May 2020 and has a six-year term. It will offer two product lines: working capital line of credit with real guarantees, composed of real estate, vehicles, trade bills, and card receivables (in partnership with Acqio, focused on micro-companies); and trade bills.

This is the first product developed by XP Asset with BNDES and follows the heated market of financial and credit solutions aimed at micro, small, and medium-sized companies, an audience disputed by large banks, fintechs, and management companies.

The fund is the outcome of a call for proposals launched by the BNDES in May 2020 and has a six-year term. It will offer two product lines: working capital line of credit with real guarantees, composed of real estate, vehicles, trade bills, and card receivables (in partnership with Acqio, focused on micro-companies); and trade bills.

This is the first product developed by XP Asset with BNDES and follows the heated market of financial and credit solutions aimed at micro, small, and medium-sized companies, an audience disputed by large banks, fintechs, and management companies.