Finance
Fidelity-Backed Fintech Targets 30% Growth, $1 Billion Revenue
- Sao Paulo-based Creditas plans to issue another bond this year
- Founder Sergio Furio has plans of a US IPO in about two years
Creditas Financial Solutions Ltd., one of Latin America’s most-valuable fintechs, emerged from the tech downturn with losses halted and half its staff.
The Sao Paulo-based firm, which was valued at $4.8 billion in January 2022 in an investment round led by Fidelity Management & Research Co., was one of the few fintechs in the region able to reach the global debt markets in 2023 with an unsecured plain vanilla bond. And it has plans to do more this year, according to founder and Chief Executive Officer Sergio Furio.