PUBLISHED: July 27, 2022
São Paulo, Brazil, July 2022 – FinanZero, Brazil’s leading online credit marketplace, announces today that it has closed a US$ 4 million funding round in its fourth round of funding. The round was led by the Swedish investors VEF, Dunross & Co, Atlant Fonder, and Webrock Ventures, all previous investors in the company. The use of proceeds will be used to expand FinanZero’s leading market position in Brazil.
FinanZero empowers consumers to choose the loan that best fits their financial needs by comparing multiple offers from a network of 60 lenders in one search. With over 1.5 million loan applications per month, a growing database of 31 million individuals, and 900 million reais in generated loan volume, the company is well equipped for continued 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. In total, FinanZero has raised US$ 27 million and the largest shareholders today are Webrock Ventures and VEF.
FinanZero has built a strong brand over many years and is today the fifth most searched credit brand on Google in Brazil. Thanks to this, FinanZero has become an important customer acquisition channel for Brazilian lenders. With the new proceeds, FinanZero will primarily focus on product development and further deepen the technical integration to its bank partners.
Comment from Olle Widén, Co-Founder, and CEO at FinanZero:
“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 democratize access to the credit market by offering more accessible loans to consumers who previously had a hard time receiving financing.”
Comment from David Nangle, CEO at VEF:
“We continue to back the FinanZero team in their journey to build Brazil’s leading credit marketplace. Brazil remains the most attractive fintech opportunity globally and within that, lending is the biggest opportunity set with the most generous unit economics. With a strong track record of delivery behind them, this capital should pave the way for continued robust growth and a controlled path to profitability for Olle and the team.”
FinanZero is Brazil’s leading online credit marketplace for Personal Loans, Car Equity, and Home Equity. The company acts as an independent broker where consumers choose the loan that best fits their financial needs by comparing multiple offers from a network of 60 lenders in one search. Headquartered in Sao Paulo, FinanZero currently has 75 employees.