Creditas
Creditas is the leading secured lender in Brazil’s enormous consumer credit market.
Creditas set out to radically reduce the outrageous interest rates that Brazilian consumers pay due to the traditional banking oligopoly there. Rather than go head-to-head with the big banks, Creditas took a different approach: they offered customers much lower interest rates if they would collateralize their loan with an un-levered asset such as a house or car.
Today, Creditas has a loan book of more than $1 billion across home equity, auto equity, and payroll loans, and is the leading independent provider of secured debt in Latin America’s largest economy.