FinanZero raises $1.5m to launch new financing products

By Delisha Fernandes

FinanZero, the online credit marketplace, has announced that it has raised $1.5 million in an investment round.

The company aims to use the funds to strengthen its position in the market by developing new online financing products for property and vehicle equity and increasing marketing efforts.

Olle Widén, CEO and founder of FinanZero said, “We had such great interest in our previous round that we decided to extend this with an additional 1.5 million dollars this year on the same conditions and valuation as in 2022. It’s encouraging to see our investors’ continued support; this additional funding will help speed up our continued growth and product development.”

FinanZero has seen 13 million customers register on its marketplace, with 1.2 billion in loan volume. In February 2023, the company announced that it had reached 40 million loan applications.

Through its fintech marketplace, consumers can access offers from over 70 partners, including traditional financial institutions and digital banks. Its flagship offering is personal loans, but the new funding will enable the further development of its secured credits offering through car and property equity.

Diversifying and developing its offering to consumers will help attract new target groups while aligning with FinanZero’s mission to make credit applications easier, more secure and accessible for everyone.

FinanZero, founded in Brazil in 2016 by Swedish entrepreneurs Olle Widén and Kristian Jacobsson, together with Swedish-Brazilian investment firm Webrock Ventures. The company employs a team of 75 and is headquartered in São Paulo.