LatAm’s new FinTech gem is now worth $4.8B 💎; The great consolidation in the BNPL space 🤝; JPMorgan’s latest FinTech purchase shows it’s bullish on European payments 💸

Good Morning FinTech, January 26

Good day Everyone,

And happy Wednesday! I hope you’re having a great week thus far. To make it better, here’s a mix of 3 super interesting FinTech stories I’ve prepared for you today:

LatAm’s new FinTech gem is now worth $4.8B 💎

The funding 💸 Brazilian secured lending platform Creditas has hit a whopping $4.8 billion valuation off the back of a $260M Series F funding round.

Fidelity Management and Research Company, Actyus, and Greentrail Capital joined the round, alongside existing shareholders QED Investors, VEF, SoftBank Vision Fund 1, among others.

The newest funding grew Creditas’ valuation almost 3 times - it’s now up from the FinTech’s $1.75B valuation at the time of its $255M raise in December 2020 🤯

The USP 🥊 Founded in 2012, Creditas is a digital-first secured lending platform, with a mission of reducing the Brazilian consumer debt burden by offering consumer loans at more affordable rates by using borrower collateral like homes, autos, and payroll.

The numbers 📊 In the third quarter of 2021, Creditas notched $46.8M in revenue – up 233% from $14M in the 2020 third quarter. That’s solid!

At the same time, as it has been investing in its growth, the company’s net loss widened to $14.8M compared to $8.25M. Founder and CEO Sergio Furio projects annualized revenue of about $200M for 2021.

Creditas is LatAm’s newest FinTech gem that’s definitely worth keeping a close eye on. Here’s why👇🏼