FinanZero is a leading marketplace for consumer loans in Brazil. The business is an independent broker for loans, negotiating the customer’s loan application with several banks and credit institutions, to find the loan with the best interest rate and terms for the consumer. FinanZero handles the lending process from start to finish.
The Series A round was led by Swedish publicly listed investment company, Vostok Emerging Finance, with participation by other Swedish investors, including Webrock Ventures and Zentro Founders.
“Brazil remains our favored fintech market globally, and through FinanZero we have one of the best ways to play its extremely attractive consumer finance market. With a strong team, partnerships and growing traction, we are more than happy to continue to support team FinanZero on this exciting journey,” says David Nangle, CEO of Vostok Emerging Finance.
With this USD 3.6 million investment, FinanZero will invest in continued expansion and marketing while also develop its online platform, to ensure a better user experience, and the digital loan broker is highly welcomed by Brazilian banks and consumers.
“Both banks and borrowers are rapidly becoming more and more digital in Brazil and our online platform offers a win-win solution where we increase the efficiency of the banks while reducing consumers’ borrowing costs,” adds Olle Widén, CEO and Co-founder of FinanZero.
Since its launch in 2016, FinanZero has handled more than 1,000,000 loan applications and over the next 12 months the expectation is to grow the volume of intermediated loans 10 times. The Brazilian fintech was founded by a group of Swedish entrepreneurs and has a partner portfolio of 24 banks and credit institutions.