SuperSim, a Sao Paulo, Brazil-based credit fintech company focused on bringing financial inclusion to working-class Brazilians, closed an over USD5m Series A financing.
The round was led by IDC Ventures, with participation from several new and existing investors.
The capital will be used to invest in the loan book, to grow the team and to finance the rollout of new products and services out of pilot.
Co-founded by Antonio Brito (CEO), Daniel Shteyn (President & Chairman) and Rômulo Coutinho (CTO), SuperSim is an online lender focused on tech-enabled financial inclusion for the working class in Brazil. It is licensed as a bank correspondent and offers B2C and B2B2C credit products, including microcredit-sized phone-backed loans and “Lending As A Service” for corporate partners.
Loan amounts currently vary between BRL 250 and BRL 2,500 (or approximately 50 – 500 USD), with interest rates being competitive with a mainstream credit card – which SuperSim’s customers typically can’t qualify for. Rates decrease over time, as the customer proves her capacity to repay, therefore reducing risk.
The company recently raised over US$25 million through a securitized debt offering via a special purpose vehicle in the Brazilian market. That debt financing was structured by Milênio Capital, with participation by several large Brazilian blue-chip fixed-income investors and asset managers.
FinSMEs
20/01/2022