Bille, a Special Purpose Enterprise (SPE) created by Crinale, a Brazilian housing developer created for building and selling 1,200 houses in the interior of Sao Paulo State, has received a R$7M (approximately US$3.6m) investment from Bamboo Finance.
The investment is designed to help Bille scale operations and engage other institutional investors.
Founded in 2009 by CEO Claudemir Quilici and Andre Molinari, Crinale, has completed six affordable housing projects in five towns in Sao Paulo State. The company’s model focuses on diminishing the time it takes to secure financing, building nimble and efficient operations, and providing access to quality land. To date, it has built and sold over 1,100 houses to low income families.
Bamboo Finance is an impact investment firm that funds growth stage business models that drive economic viability in low-income markets.