On December 18, 2020, Brazilian lending business Creditas raised $255 million in new financing, valuing the company at $1.75 billion. Investors in the round included new investors like LGT Lightstone, Tarsadia Capital, Wellington Management, e.ventures, and an affiliate of Advent International, Sunley House Capital. Previous investors SoftBank Vision Fund 1, SoftBank Latin America DFund, VEF, Kazsek, and Amadeus Capital Partners also participated in the round.

Creditas has plans to use the cash to expand its home and auto lending as well as a payday lending service based on customers’ salaries and a retail option to sell through buy now, pay later loans based on a customer’s salary. The company is also looking to expand to other markets, with an eye toward establishing a foothold in the Mexican market.

The Wilson Sonsini Goodrich & Rosati LatAm practice team that represented LGT Lightstone in the transaction includes Matt Squires, Vanessa Heck, Maurice Guttmann, and Aletha Tarn.

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