CredAluga, a fintech startup, secures R$ 22 million in funding to enhance its rental guarantee services and expand financial product offerings in the growing Brazilian rental market.
Information on the Target
CredAluga is a fintech founded in 2022 by two seasoned entrepreneurs in the real estate market, aimed at replacing traditional guarantors in rental contracts. Within two years, the company recognized a growing demand from real estate agencies for additional financial solutions, leading to its inaugural institutional funding round.
The startup recently secured R$ 22 million in investment, led by Caravela Capital, with contributions from investors including Honey Island by 4UM, Norte Ventures, Terracotta Ventures, and FJ Labs. The funds will facilitate an expansion of its operations in rental guarantees and the development of new financial products.
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Industry Overview in Brazil
The Brazilian rental market has seen significant growth, with the proportion of individuals living in rented properties increasing from 17.3% in 2016 to 20.2% in 2022, according to IB
Similar Deals
Caravela Capital
invested in
CredAluga
in 2023
in a Series A deal
Disclosed details
Transaction Size: $4M
Revenue: $75M