Zoop secures R $ 200 mn via Credit Rights Investment Fund (FIDC)

By Pavithra R

Zoop, a leading FinTech for financial services in the B2B market has announced raising R $ 200 mn through the launch of a Credit Rights Investment Fund (FIDC).

The company is planning to use the finance to prepay credit card receivables for FinTech customers, expanding access to financing sources from these partners. With some of the largest financial institutions in the country as investors, the fund, called Zoop I, is closed and had a total demand of R $ 500 mn, almost 3 times greater than the fund’s offer, which allowed the company to optimize commercial conditions.

“The fund will provide more security and independence for Zoop to prepay receivables to its customers, who are already more than 560 active partners. With our fintech as a service model, we serve more than 250 thousand establishments. Our goal is to be a strategic partner for our customers, helping to provide credit and boosting their business,” said Dan Faccio, Zoop CFO.

“Today, the volume of prepayment of receivables from Zoop is already greater than the volume of this fund, so we expect new fund series to be raised over the next few months,” concludes Dan Faccio.

Founded in 2013, Zoop operates in mobile payments, banking as a service (BaaS) and credit. Its platform and products combine technology and regulatory compliance, allowing any company irrespective of size to create and offer its own financial services (white label) in a simple, efficient and secure way. In 2020, the company launched new verticals, won over 40 new customers and raised R$ 60 mn investment from Grupo Movile and Darwin Capital.