The Brazilian platform a55 has received a Series B investment of US$16.3 million dollars. The round was led by Movile, with the participation of Mouro Capital. In addition, the company has the support of other institutional capital and debt investors such as Accial Capital, BTG Pactual and Empírica Investimentos.
With this amount raised, the Brazilian fintech seeks to continue its promise to simplify access to credit for Latin American digital companies. By not having physical assets and, in many cases, starting operations, it is difficult for these companies to obtain traditional credits.
What a55 offers is a digital credit based on the monthly income of a digital company. According to its own website, a55 understands the needs of these types of companies. This is why they do not require a real estate or car guarantee to give them the capital they need to grow.
The Brazilian company also has the Movile fund. With this fund, it has invested in startups such as Zoop and MovilePay to expand its portfolio within the fintech sector. a55 currently operates in Brazil and Mexico and is growing with more than US$55 million in loans granted to more than 500 companies.
It is precisely in these two countries where a55 will focus its growth. The company will dedicate more resources to advancing its technology and recruiting more talent in Brazil and Mexico, as well as looking to grow its client base inside and outside of the online subscription and e-commerce verticals.
Growth plans also include improving its platform, developing new technologies that are based on blockchain and data science, and continuing international expansion.
The fintech sector continues to grow exponentially in the region. According to data from LAVCA (Association for Private Capital Investment in Latin America), fintechs have received the majority of private capital investments in the region in the last six years.
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