Fidelity Investments led a funding round for Brazilian digital lender Creditas in a private fundraising that valued the firm at $4.8 billion, making it one of Latin America’s most valuable financial upstarts.
Creditas raised $260 million in a Series F financing round led by Fidelity, said Sergio Furio, founder and Chief Executive Officer of the Sao Paulo-based lender. Other existing investors, such as SoftBank Group Corp.’s Vision and Latin America funds, also took part, Furio said.
The deal frenzy helped mint new billionaires and turned startups into some of the region’s largest companies. The latest fundraising vaulted Creditas to the region’s top 5 most-valuable privately-held startups, ranking below digital used car reseller Kavak (valued at $8.7 billion), delivery services provider Rappi ($5.25 billion) and real-estate marketplace QuintoAndar ($5.1 billion).
Read more: Yahoo Finance
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