Softbank: Confirm a $200m investment in Creditas

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Softbank: Confirm a $200m investment in Creditas

Softbank: Has confirmed it plans to invest $200 million in the Brazilian fintech start-up, Creditas

  • The company’s valuation at $700 million after the acquisition
  • SoftBank was planning a joint investment between its Vision Fund and its Innovation Fund worth $5 billion
  • The firm reports a threefold net revenue that increased in 2016
  • Creditas has raised a total of $88 million in the past, with a recent Series C worth $55m
  • Creditas founded by Sergio Furio and Leandro da Costa in 2012 as a credit lender
  • The start-up started implementing a model where borrowers use a property or vehicle as loan collateral