Rebel, a Sao Paulo, Brazil-based digital consumer finance startup that offers middle-class people in the country access to unsecured credit, raised USD $10 million in new equity funding.
Backers in the round, which comes one year after having raised USD $4 million from XP and others, included Monashees, and FinTech Collective.
With this round, investors in Rebel now include: Julio Capua, former XP executive; Bruno Licht, former director at Banco Garantia and long-serving board member at Bovespa; and João Guerra and Fued Sadala, co-founders of Dreampact – a fund created by former Inbev executives.
The company intends to use the funds to make new investments in technology, to create new products and improve distribution channels, increasing its customer base.
Founded in 2017 by André Bastos, Paulo Nunes, and Rafael Pereira, Rebel offers no personal guarantee credit at low interest rates by leveraging technology (big data) to perform precise assessments of each consumer’s financial behavior.
The amounts range from BRL 1,000 to BRL 25,000, and maturities up to 24 months.