Creditas has acquired Creditoo, a secured loan startup, to enhance its product offerings and capitalize on new investment opportunities led by SoftBank.

Target Information

Creditas, one of Brazil's largest fintech firms, has recently acquired Creditoo, a startup specializing in secured loans. Creditoo primarily focuses on offering loans backed by guarantees such as real estate and vehicles. This acquisition marks a pivotal move for Creditas as it aims to diversify its lending services and adapt to the growing demand for payroll-deductible loans. The company's strategy is further bolstered by a significant investment of $231 million led by the Japanese firm SoftBank.

In addition to securing considerable venture capital, Creditas has experienced remarkable growth. The company's revenue surged by 700% from 2016 to 2017, followed by a 500% increase from 2017 to 2018. As of the last fiscal year, Creditas boasts a loan portfolio worth R$ 500 million and employs over 500 staff members, reflecting its robust operational capacity and market presence.

Industry Overview in Brazil

The fintech industry in Brazil has witnessed substantial transformation over the past few years, with a surge in both investments and new startups entering the market. Brazil's financial landscape, characterized by traditio