Oikocredit invests in Brazilian fintech BizCapital as part of a USD 15 million funding round
Social impact investor Oikocredit has acquired a minority stake in BizCapital, a leading online SME lender in Brazil
27 October 2020, Amersfoort, the Netherlands and Rio de Janeiro, Brazil – BizCapital, a digital lending platform for small and medium enterprises (SMEs) in Brazil, has completed a USD 15 million Series B funding round. The investment round began earlier this year with the participation of new investors: Oikocredit, DEG (German Investment Corporation), Mercado Libre Fund, 42K Investimentos, with follow-on investments from Quona Capital, Monashees, and Chromo Invest among others.
The proceeds from this round will accelerate BizCapital’s business expansion and enhance its distribution channels to serve even more SMEs. “In addition to continuing to help SMEs with credit, we look forward to expanding our financial services offering, and developing new products for entrepreneurs”, added Francisco Ferreira, CEO and cofounder of BizCapital.
BizCapital began operations in 2016 and has already served more than 9,000 businesses in more than 1,200 Brazilian cities. The company has been growing consistently since inception. Through its in-house developed technology, it offers entrepreneurs financial services to expand their businesses.
With this investment, Oikocredit reinforces its commitment to support financial inclusion of SMEs in Latin America, by supporting innovative and agile fintech companies. “At Oikocredit, we are excited to enter this new partnership and support the growth of BizCapital and the creation of jobs in Brazil. The company’s mission of responsible financial inclusion is well aligned with our goal of maximising social impact,” says Nicolás Arrosa from Oikocredit.
BizCapital provides online working capital loans to SMEs, through a fast and reliable process. The company, founded in 2016 by three seasoned entrepreneurs, makes it its mission to help Brazilian SMEs access working capital and other financial solutions. BizCapital is committed to creating relationships “from entrepreneur to entrepreneur”, offering the tools and resources to help them grow their businesses.
Social impact investor and worldwide cooperative Oikocredit has 45 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.
Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.
Oikocredit finances close to 690 partners, with total outstanding capital of € 947 million (June 2020). For more information see: www.oikocredit.coop.
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For more information or to request an interview, please contact Jasmin Panjeta, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: email@example.com.