Creditas, a Sao Paulo, Brazil-based digital secured loan platform provider, raised $50m in Series C funding.
The round was led by Vostok Emerging Finance (VEF) with participation from existing investors Kaszek Ventures, Quona Capital, QED Investors, International Finance Corporation and Naspers. Post the transaction, VEF holds a minority position and board representation in Creditas.
The company intends to use the funds to improve the technology platform and expand its product portfolio.
Founded in 2012 by Sergio Furio, Creditas is a digital-first secured lending platform, offering Brazilian consumers consumer loans at affordable rates by using borrower collateral like homes and autos. The company leverages these assets to offer home equity and auto secured loans at more reasonable rates.