Creditas, a FinTech based in Brazil, has reached a $4.8bn valuation following its recent funding round.
In Brief:
Creditas offers insurance, consumer loans and an online used car sales platform.
The business is backed by Softbank.
It's raised $260mn from new and existing investors.
What does this mean?
The investment forms part of significant growth in LatAm, which had an estimated $15.3bn worth of VC deals last year. Creditas, which has more than 4000 staff, has now raised a total of $829mn and intends to continue growing its customer base.
