Sweden’s Vostok leads $50 mln investment in Brazil fintech Creditas: Reuters

Swedish fund Vostok Emerging Finance led a 165 million reais ($50 million) investment in Brazilian financial-technology startup Creditas Soluções Financeiras Ltda, the company said on Monday.

Creditas, founded in 2012 and specialized in providing loans with real estate or vehicles as collateral, had a 135 million loan book last year.

Founder and CEO Sergio Furio said Creditas would use the new equity raised to grow its loan book 30 fold in three years. Investors in Creditas also include Kaszek Ventures LP, Quona Capital Management Ltd, Naspers Ltd and the International Finance Corporation, the investment arm of IRBD.

Some Brazilian fintechs that recently went through fundraising rounds are financial planning app GuiaBolso and credit card provider Nubank.