SÃO PAULO, April 6, 2021 /PRNewswire/ -- FinanZero, Brazil's leading online credit marketplace, announces today that it has closed a US$ 7 million funding round in its fourth round of funding. The round was led by the Swedish investors VEF, Dunross & Co, and Atlant Fonder, all previous investors in the company. The use of proceeds will primarily go towards marketing, product development, and hiring new talent.
Thanks to its transparent value proposition, FinanZero empowers consumers to choose the loan that best fits their financial needs by comparing multiple offers from a network of 50 lenders in one search. With a surge in demand for consumer loans amid the Covid-19 pandemic, Finanzero's volume of credit applications has grown exponentially for the past months, and FinanZero is now the leading online credit marketplace in Brazil.
FinanZero was founded in 2016 by Swedish-Brazilian investment firm Webrock Ventures and Swedish entrepreneurs Olle Widén and Kristian Jakobsson. In total, FinanZero has raised US$ 22.85 million since 2016 and the largest shareholders today are Webrock Ventures and VEF.
Comment from Olle Widén, Co-Founder, and CEO at FinanZero:
"The volume of credit applications on our platform continues to grow exponentially, with an average of 750,000 applications per month, generated to our 50+ lending partners. Our mission is to empower Brazilian consumers by providing more transparency through a one-stop-shop for loans, and we are seeing great traction in a time in which digital transition and favorable regulatory changes are taking place. We raised funds to capitalize on this market opportunity."
Comment from David Nangle, CEO at VEF:
"Backing our portfolio companies and their founding teams harder, when they are delivering the kind of growth and value creation that FinanZero is, is one of the easiest decisions we make as investors. Olle and the team at FinanZero are at a really exciting point in their journey and with this additional capital, we are very excited that they can continue their path to being the leading credit marketplace in one of the clearest scale opportunities in Brazilian Fintech."
Founded in 2016, FinanZero is Brazil's leading online credit marketplace. The company acts as an independent broker, negotiating with several credit institutions at once to find the best loan. Headquartered in Sao Paulo, FinanZero currently has 52 employees.