Brazil loan marketplace FinanZero closes $4m round

Brazil-based online credit marketplace FinanZero has closed its fourth round of funding on $4m.

Swedish investors VEF, Dunross & Co, Atlant Fonder and Webrock Ventures served as the lead investors. Previous backers of FinanZero also joined the fresh capital injection.

With the funds, the company hopes to expand its position in Brazil. It also hopes to bolster its product development efforts and deepen its integration with bank partners.

FinanZero was founded by Swedish-Brazilian investment firm Webrock Ventures and Swedish entrepreneurs Olle Widén and Kristian Jakobsson.

Its mission is to empower consumers to choose the loan that best meets their financial needs, by comparing offers from a network of 60 lenders.

FinanZero boasts over 1.5 million loan applications per month, a growing database of 31 million individuals and 900 million reals in generated loan volume.

Its online marketplace helps consumers find personal loans, car equity and home equity.

FinanZero co-founder, and CEO Olle Widén said, “This funding  round is a testament to the strength of our business model and the strong support from our owners, who share our long-term vision of being the leading platform for loans in Brazil. With this funding we can choose to be profitable in 2023.

“Our mission is to empower Brazilian consumers by providing more transparency through a one-stop-shop for loans and we will continue to democratise access to the credit market by offering more accessible loans to consumers who previously had a hard time receiving financing.”

The FinTech company has raised a total of £27m in funding, to-date. It previously raised $3.6m in its Series A round last year.

Brazilian neo bank Neon recently closed an $80m funding round.  

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