FinanZero, the online credit marketplace in Brazil, recently announced that it has raised USD 1.5 million in a funding round.
The proceeds from the investment round will be “used towards strengthening FinanZero’s position in the market through product development, specifically developing new online financing products for property and vehicle equity, and increasing marketing efforts.”
The investment “comes from a number of Swedish family offices, and follows the company’s USD 4 million round in 2022, which was led by VEF, Dunross & Co, Atlant Fonder and Webrock Ventures.”
Olle Widén, CEO and founder of FinanZero comments:
“We had such great interest in our previous round that we decided to extend this with an additional 1.5 million dollars this year on the same conditions and valuation as in 2022. It’s encouraging to see the continued support from our investors and this additional funding will help speed up our continued growth and product development.”
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.” In February 2023, the company “announced that it had reached 40 million loan applications.”
Through its fintech marketplace, consumers “can access offers from over 70 partners, including traditional financial institutions and digital banks.”
Its flagship offering “is personal loans, but the new funding will enable the further development of its secured credits offering through car and property equity.”
Diversifying and developing its offering to consumers will help attract new target groups, while being in line with FinanZero’s mission “to make credit applications easier, more secure and accessible, for everyone”
As noted in the update, FinanZero was “founded in Brazil 2016 by Swedish entrepreneurs Olle Widén and Kristian Jacobsson together with Swedish-Brazilian investment firm Webrock Ventures.”
The company reportedly “employs a team of 75 and is headquartered in São Paulo. Its investors include Swedish family offices, as well as VEF, Dunross & Co, Atlant Fonder, and Webrock Ventures.”