Brazilian online lender BizCapital has bagged $12m in a new funding round as it moves to develop more products to support small businesses’ financing needs.
The investors participating in the Series B round included the Quona Capital, Monashees, Mercado Libre Fund, KFW DEG and Chromo Invest.
The platform has reportedly served more than 5,000 in more than 1,200 Brazilians.
“What we aim to achieve with these new resources is to continue helping entrepreneurs during the entire lifecycle of their companies,” Francisco Ferreira, CEO and co-founder at BizCapital, told Crowdfund Insider.
The round comes after Latin American FinTech space has gone from strength to strength. Companies in the region has raised $5.5bn across 328 transactions since 2015, according FinTech Global’s research. More than half of deal activity has been captured by companies in the marketplace lending, payments and WealthTech subsectors, collectively amounting to 63.1% of transactions in the region since 2015.
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