Brazil-based SuperSim has reportedly netted $5.6m in a debt financing round, which will help more consumers in Latin America access funding.
Despite having just secured these funds, the FinTech is looking to raise a Series A by the end of the year, according to a report from Contxto.
The FinTech is an online personal loan platform, where consumers can apply and get approval within a minute, it claims. Loans available range from R 500 ($91) to R 2,500 ($456) and repayment terms can be chosen from four to 12 months.
Fellow Brazilian FinTech Swap recently closed a $3.3m funding round from ONEVC, GFC, SOMA Capital,? ABSeed, Flourish Ventures and Hustle Fund. The company empowers businesses to build their own payment tools, which are easy to implement and offer full transparency.
Brazil FinTech space has seen a total of $2.7bn invested, with 50.6% of this going to the WealthTech.
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