Contbank, a Brazilian fintech focused on credit solutions for SMEs, has initiated an investment round that could reach BRL$6.25 million. The equity crowdfunding campaign is available on Captable, with investments starting from BRL$1,000.
According to Captable, GJL Real Estate, a German investment company with global operations, is anchoring the offering to strengthen its investment portfolio in Latin America.
The entry of the European group was facilitated by Ilumina Private Advisors, the company’s representative in Brazil.
Contbank was created with the aim of meeting the specific needs of SMEs through a network of associated accounting offices.
Using artificial intelligence, Contbank analyzes anonymous information and offers suitable credit products for each business, along with providing better interest rates to companies.
With funding from Captable, the company plans to accelerate the growth of its digital platform, based on the use of artificial intelligence to provide credit options to small and medium-sized enterprises through a network of associated accounting offices.
This expansion is essential to meet the growing demand for more accessible and efficient financial services for SMEs in Brazil. The fintech’s proposal is to advance in a segment overlooked by large banks.
Launched on Tuesday morning, the crowdfunding had already secured 67.9% of the capital by 2:00 PM.
“We see in Contbank an engine of transformation in the SME credit market,” declared Luciano de Salles, CEO of Illumina Private Advisors.
Contbank: An Alternative for SMEs
The Brazilian startup began its operations in 2021 with the goal of becoming the best choice for micro, small, and medium-sized enterprises to connect with the financial market.
The founders saw an opportunity to start their fintech due to the difficulties SMEs face in accessing quality financial services at fair costs, whether it be loans, payment services, cards, or other necessities for their day-to-day operations.
“The main differentiator of Contbank is to act through the know-how and relationship of the community of accountants in Brazil. With extensive knowledge of the peculiarities of each company, these professionals can suggest the best alternatives and financial solutions,” details the startup.
