Brazilian Credit Marketplace Finanzero Raises USD 11 Million for Further Expansion
FinanZero, a Brazilian fintech that operates as a consumer loan broker, received a new round of investment, raising USD 11 million from Atlant Fonder, Dunross & Co and Vostok Emerging Finance, among other investors.
“FinanZero will improve its technical platform and invest heavily in marketing to increase the visibility of the brand. We have already received more than 3 million loan applications in three years of operation in the Brazilian market,” explains Olle Widén, CEO of FinanZero.
“Today, the Company has a growth of 50% per quarter, which adds up to more than 1 million visitors on our site per month,” adds Widén.
The Company was founded in 2016 by Webrock Ventures, Zentro Global Partners and Olle Widén. That same year, it received an investment of USD 1.25 million from the public fund Vostok Emerging Finance and began the process of expanding its operations. Inspired by the success of the business model in Sweden, FinanZero was created in Brazil, where the fintech market is growing rapidly.
“Brazil remains our favored fintech market globally, and through FinanZero we have one of the best ways to play its extremely attractive consumer finance market. With a strong team, partnerships and growing traction, we are more than happy to continue to support team FinanZero on this exciting journey,” says David Nangle, CEO of Vostok Emerging Finance.
FinanZero is a leading marketplace for loans in Brazil. The business is an independent broker for loans, negotiating the customer’s loan application with several banks and credit institutions, to find the loan with the best interest rate and terms for the consumer. FinanZero handles the lending process from start to finish.
FinanZero has 30 bank partners on its online platform, and is offering a 100% digital and 100% free service for its customers. Among the products offered by the loan marketplace are: personal loans, car loans and mortgage loans. FinanZero is a banking correspondent regulated by law 3.954/11 of the Brazilian Central Bank.