SoftBank said to be talks to invest in Brazilian online lender Creditas

Pedestrians walk past a SoftBank Group Corp. store in Tokyo, Japan. Photographer: Tomohiro Ohsumi

SoftBank Group Corp. is in talks to invest about $230 million in Brazilian online lender Creditas as the firm expands investments in Latin America, according to people familiar with the matter.

SoftBank is planning to do the deal via a joint investment from its Vision Fund and newly created Innovation Fund, according to the people, who asked not to be identified as the details aren’t public. No final decisions have been made, and SoftBank may still decide against the transaction, they said.

SoftBank and Creditas declined to comment.

SoftBank’s Innovation Fund was launched this month to invest a $5 billion pot across Latin America. The fund is also close to putting as much as $1 billion in Colombian food delivery startup Rappi, people familiar with the matter have said.

Creditas, which raised 250 million reais ($63.4 million) through two fundraising rounds in 2017, claims to offer secured loans at interest rates as little as 25 percent of what Brazilian banks charge. It also says it has default rate of less than 1 percent, according to startup advisory firm Endeavor. Creditas has lent more than 500 million reais since it was created in 2012, according to its website.

Creditas’s investors include Banco Santander SA’s InnoVentures, Amadeus Capital Partners, Quona Capital and Vostok Emerging Finance.

Also read:

India Dealbook: Cash Suvidha, Creditas, The Ken, UrbanPiper raise funding

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.