Zentro Founders launches an online marketplace for consumer loans in Brazil.
Brazil is one of the fastest growing Internet markets in the world with a population of over 200 million. The Swedish VC-firms Zentro Founders and Webrock Ventures are now investing in the consumer loan marketplace FinanZero.com.br. Co-investor is listed Vostok Emerging Finance.
Zentro Founders will launch this consumer loan marketplace world wide, now we are happy to present FinanZero.com.br, our first LatAm-launch.
Vostok Emerging Finance Managing Director Dave Nangle comments:
“I am very happy to announce our first investment of 2016 and our inaugural investment in Latin America. We are very excited by the large opportunity in Brazil and in due course the broader continent for this model. It is the combination of the structural market opportunity, combined with a dynamic experienced team behind what is a proven business model elsewhere that convinced us to back FinanZero.”
Webrock Ventures focuses on taking successful Scandinavian Internet companies to the Brazilian market. The company is now investing in FinanZero.co.br, which utilizes technology and knowledge from pioneer Fintech companies in Sweden.
– The Brazilian market for financial services on the Internet is taking off right now. Many banks have recently launched their online presence and several of them offer the opportunity to apply for loans online. Online marketplaces for loans have had great success in Sweden for a number of years, and now is the right time to take a position in Brazil, says Joakim Pops, Managing Partner at Webrock Ventures.
FinanZero is one of the first marketplaces for online consumer loans in Brazil. The business is an independent broker for loans, negotiating the customer’s loan with several credit institutions to find the loan with the best terms and interest rate. FinanZero handles the lending process from start to finish, with the customer and the bank integrated into FinanZero’s system. The business combines aspects of loan comparison, lead generation and consumer loan brokering. FinanZero has a partnership with Brazil’s largest e-commerce site, OLX.com.br, that delivers qualified loan applications to FinanZero.
About Webrock Ventures
Webrock Ventures offer Scandinavian IT companies a quick and efficient establishment in Brazil and the opportunity to expand further into Latin America. Through joint ventures and necessary adjustments, Webrock Ventures creates opportunities for Scandinavian companies to rapidly expand into new major markets. Founders of Webrock Ventures are the IT-entrepreneurs Joakim Pops, Per Bystedt, Magnus Lindahl and Patrik Axelsson, all with long experience from starting and running Internet companies and doing business in Brazil.
About Vostok Emerging Finance
Vostok Emerging Finance is an investment company with the goal of investing in early-stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB. Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.