Bank loans are difficult to obtain and prohibitively expensive in rapidly emerging economies such as Brazil. Interest rates on personal, credit card, and student loans can reach 100% per year. As a result, thousands of smaller lending companies have sprung up, lending more than $10B at lower interest rates. Access to international capital was previously unavailable, forcing smaller lenders to seek funding on their own.
Credix, a Belgian fintech, has raised 11.32M in funding to connect institutional investors from all over the world with lenders in emerging markets. Motive Partners and ParaFi Capital, both based in the United States, led the Series A round. Valor Capital, Victory Park Capital, MGG Investment Group, Circle Ventures, Abra, Fuse Capital, and Claure Group also participated in the round, as did angel investors such as Ricardo Villa Marina, chairman of Itau LatAm.
Fund usage
The additional funds will allow the startup to surpass the $100M mark and expand into Mexico and...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...