Brazil based provider of a digital platform offering secured consumer loans raised $231m in Series D funding led by SoftBank.
The proceeds of the SoftBank investment will be used to expand Creditas’ product portfolio, improve its technology and increase headcount, [Creditas founder Sergio] Furio said in an interview. Creditas will also start to offer payroll loans, a market nearly untouched by big banks, and finance auto and home purchases, Furio said, as well as related services. “In the future, loans will be more than money, they will be part of a full solution offered to clients,” he said, such as providing loans for home remodeling projects as well as offering advice for such projects. Furio said the lending platform’s revenues are likely to expand 30-fold by 2021, but did not disclose the figures.