FinanZero, a Sao Paulo, Brazil-based loan marketplace, raised $3.6m in Series A funding.
The round was led by Swedish publicly listed investment company Vostok Emerging Finance, with participation from other Swedish investors including Webrock Ventures and Zentro Founders.
The company intends to use the funds for continued expansion and marketing while also develop its online platform.
Led by Olle Widén, CEO and Co-founder, FinanZero is a marketplace for consumer loans in Brazil. The business is an independent broker for loans, negotiating the customer’s loan application with several banks and credit institutions, to find the loan with the best interest rate and terms for the consumer. The company handles the lending process from start to finish.
Since its launch in 2016, FinanZero has handled more than 600,000 loan applications and – over the next 12 months – the expectation is to grow the volume of intermediated loans 10 times.