São Paulo Fintech FinanZero Reaches 40M Loan Applications

FinanZero, the online credit marketplace in Brazil, announces that it has reached 40 million loan applications made through its platform to date.

FinanZero was “founded in São Paulo in 2016 by Swedish entrepreneurs Olle Widén and Kristian Jacobsson together with Swedish-Brazilian investment firm Webrock Ventures.”

FinanZero enables users “to find and apply for the best deals on personal loans, car equity, and house equity from the 72 financial institutions (including major banks) that offer credit through the marketplace.”

Key to the platform’s success “has been minimizing bureaucracy and providing a seamless experience for credit seekers, while becoming a crucial customer acquisition channel for Brazilian lenders.”

FinanZero has “seen 13 million customers register on its marketplace to date, with 1.2 billion in loan volume.” In the credit segment, FinanZero is “the most-searched-for non-bank on Google in Brazil and its website attracts 3.5 million monthly visits.”

FinanZero is “part of a rapidly growing fintech industry in São Paulo: neobank NuBank has grown into one of Brazil’s highest valued public companies and one of the largest digital banking platforms in the world; and Revolut has chosen São Paulo as its Latin American hub with the opening of its offices in the city last summer.”

Olle Widén, CEO and co-founder of FinanZero comments:

“Our mission with FinanZero is to make credit applications easier, more secure and accessible, for everyone. Brazil has historically had a relatively high number of unbanked people and a cash reliant society. But in recent years, financial inclusion has improved drastically, and Brazilians are now at the forefront when it comes to adopting digital financial services.”

Widén added:

“Combined with the introduction of Open Banking in Brazil in 2021, this has created a really healthy environment for companies like ours to grow, and turned Brazil into a hugely attractive market for fintechs in general. For FinanZero, this means more choice for our customers, which ultimately makes us an even greater marketplace and gives us an even clearer trajectory for further increasing the loans provided via our platform and for developing our offering.”

In 2022, FinanZero reportedly “raised 4 million USD from VEF, Dunross & Co, Atlant Fonder, and Webrock Ventures.”

Total funding in the company “to date is 27 million USD.” FinanZero is “headquartered in São Paulo, where it employs a team of 75 employees.”

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