Brazilian fintech platform Creditas scores $260m in Series F funding

São Paulo-based fintech Creditas has secured $260 million in a Series F funding round.

Creditas is now worth $4.8bn

The round was led by Fidelity and saw participation from Spanish fintech fund Actyus and Greentrail Capital.

Current shareholders QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightock, Headline, Wellington Management and Advent International also contributed to the raise.

Following this latest round of investment, the fintech is now valued at $4.8 billion, with its total funding raised to date standing at $829 million.

Founded in 2012, Creditas provides fintech solutions, digital insurance and credit lending solutions and marketplace offerings.

Its marketplaces include Creditas Auto (a car marketplace), Creditas Store (an e-commerce platform with a payroll-deductible BNPL model) and Voltz (the largest manufacturer of electric motorcycles in Brazil).

The cash will be used to expand its operations and invest in further product development. The fintech has set its sights beyond Brazil, as it expands further into Mexico and develops its new tech hub in Valencia, Spain.

Creditas CEO and founder Sergio Furio says Creditas can become a “true disruptor” in the Mexican market through democratising access to financial products and consumer solutions.

The fintech also intends to launch new products and selectively pursue strategic M&A opportunities.