back Back

FinanZero raises $4m in financing round; to continue its Brazil expansion

By Edlyn Cardoza

July 28, 2022

  • Brazil
  • Financial Needs
  • FinanZero
Share

FinanZero, Online Credit Market, Webrock Ventures, Loan Management, FinTech, VEF, BrazilFinanZero, Brazil’s online credit market, recently announced that it has closed a $4 million financing round, its fourth since its launch. The round was led by Swedish investors VEF, Dunross & Co, Atlant Fonder and Webrock Ventures, who have already invested in the company. The proceeds will help in the expansion plan of FinanZero in the Brazilian market.

FinanZero allows consumers to choose the loan that best suits their financial needs by comparing multiple offerings from a network of 60 lenders in a single search. With more than 1.5 million loan applications per month, a growing database of 31 million people and a generated loan volume of 900 million Brazilian reals, the company is fully poised for further growth. In the first half of 2022, loan applications increased by 82% compared to the first half of 2021.

FinanZero was founded by Swedish-Brazilian investment firm Webrock Ventures and Swedish entrepreneurs Olle Widén and Kristian Jakobsson. FinanZero has raised $27 million, and the largest shareholders today are Webrock Ventures and VEF.

FinanZero has become an important customer acquisition channel for Brazilian lenders. These new funds will allow FinanZero to focus on product development and deepen technical integration with its banking partners.

Olle Widén, co-founder and CEO of FinanZero, said, “This round of financing is a testament to the strength of our business model and the strong support of our owners, who share our long-term vision of becoming the leading lending platform in Brazil. This funding allows us to be profitable in 2023.”

“Our mission is to empower Brazilian consumers by providing them with more transparency through a one-stop shop for loans, and we will continue to democratize access to the credit market by offering more accessible loans to consumers who previously struggled to obtain them,” continued Widén.

David Nangle, CEO of VEF, said, “We continue to support the FinanZero team in their journey to build Brazil’s first credit market. Brazil remains the most attractive fintech opportunity globally and, in this context, loans are the biggest opportunity with the most advantageous unitary economies. With a strong earnings balance sheet under their belt, this capital should pave the way for robust and continued growth and a controlled path to profitability for Olle and his team.”

Previous Article

July 28, 2022

Funngro launches money management program for teenagers

Read More
Next Article

July 28, 2022

Fairown launches in Poland in cooperation with Cortland and Inbank

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

Brazil

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Cashinvoice appoints Vineet Aggarwal as Head of Partnerships & Initiatives

Read More

April 18, 2024

Klub & U GRO Capital to bridge the MSME credit gap in India

Read More

April 17, 2024

5 Lending platforms offering securities-backed loans in the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023