Online credit marketplace FinanZero secures $1.5 million
FinanZero, the Brazilian online credit marketplace, today announces that it has raised $1.5 million in an investment round.
The funding 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.