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Brazilian credit fintech Open Co announced on Wednesday it raised BRL 150m in a round led by International Finance Corporation (IFC), an institution linked to the World Bank, and followed by Goldman Sachs. Raiz Investimentos, Monashees, LTS, Chromo and Sampa also participated in the round. Open Co was founded in 2021 after the merger between the fintech startups Geru and Rebel, and plans to use the value raised in technology and new products. The holding company says it intends to take the lead in the credit fintech market in Brazil.
“We want to leverage digital technologies that improve access to financial services in Brazil. IFC’s investment will enable better credit pricing, through a more efficient risk analysis. This will make the credit market unsecured, which today is one of the most expensive in the country, most competitive,” Leiria Pinto says.
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