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Brazilian Fintech iugu receives US$14M investment to explore new avenues for growth in the region

November 7, 2023
Por
Fintechsbrasil
Fintechsbrasil
Notícias e negócios
📷
LinkedIn
This deal comes in a new series of senior installments in FIDC iugu, with Bradesco BBI leading the deal.
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iugu, a financial services platform for cash management and payment automation, announces a contribution of R$71.25 million in a new series of senior installments in FIDC iugu, with Bradesco BBI leading the deal. In an interview with Fintechs Brazil in October, iugu CEO Renato Fairbanks had previewed the move. In addition to the new FIDC, the executive said iugu is preparing to close a new investment and explore new "avenues for growth".

Targets

In a note, iugu reports that the fintech aims to direct the fund to the credit card receivables advance process. Currently, FIDC iugu has assets of more than R$180 million to advance its clients' agendas. The transaction was advised by Bradesco BBI SA as lead arranger, BEM DTVM as administrator, Banco Bradesco SA as custodian of FIDC, H2 Kapital SA as structurer and administrator of FIDC and Trench Rossi as legal advisor.

Founded in 2012, iugu has achieved significant growth in its operations. This year, the pioneer in cash management and payment automation solutions expects to grow by 80% over 2022.

"The capitalisation of FIDC represents another important step in iugu's strategy to access different sources of capital competitively. Through it, we will be able to guarantee our customers a source of working capital, which will be essential for the continuity of their business," says André Luiz Gonçalves, iugu's CFO.

Other financing

This is iugu's second FIDC financing. Last year, the fintech raised R$1.00 million with the first series of FIDC iugu, also supported by Bradesco BBI, to diversify its products and services. The first series of the iugu FIDC surpassed the R$1 billion mark in anticipated transaction volume.

In 2020, iugu raised R$ 120 million in investments with the Goldman Sachs Group and received a licence from the Central Bank to operate in Brazil as a regulated Payment Institution.

"With the second series of our FIDC, we will be able to continue to monitor our clients' growth and, consequently, continue to provide them with a competitive and predictable source of funding," concludes the executive.
Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

iugu, a financial services platform for cash management and payment automation, announces a contribution of R$71.25 million in a new series of senior installments in FIDC iugu, with Bradesco BBI leading the deal. In an interview with Fintechs Brazil in October, iugu CEO Renato Fairbanks had previewed the move. In addition to the new FIDC, the executive said iugu is preparing to close a new investment and explore new "avenues for growth".

Targets

In a note, iugu reports that the fintech aims to direct the fund to the credit card receivables advance process. Currently, FIDC iugu has assets of more than R$180 million to advance its clients' agendas. The transaction was advised by Bradesco BBI SA as lead arranger, BEM DTVM as administrator, Banco Bradesco SA as custodian of FIDC, H2 Kapital SA as structurer and administrator of FIDC and Trench Rossi as legal advisor.

Founded in 2012, iugu has achieved significant growth in its operations. This year, the pioneer in cash management and payment automation solutions expects to grow by 80% over 2022.

"The capitalisation of FIDC represents another important step in iugu's strategy to access different sources of capital competitively. Through it, we will be able to guarantee our customers a source of working capital, which will be essential for the continuity of their business," says André Luiz Gonçalves, iugu's CFO.

Other financing

This is iugu's second FIDC financing. Last year, the fintech raised R$1.00 million with the first series of FIDC iugu, also supported by Bradesco BBI, to diversify its products and services. The first series of the iugu FIDC surpassed the R$1 billion mark in anticipated transaction volume.

In 2020, iugu raised R$ 120 million in investments with the Goldman Sachs Group and received a licence from the Central Bank to operate in Brazil as a regulated Payment Institution.

"With the second series of our FIDC, we will be able to continue to monitor our clients' growth and, consequently, continue to provide them with a competitive and predictable source of funding," concludes the executive.
Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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País de origen:
Headquarters:
São Paulo
Monto inversión:
14
M
Ronda financiación:
Equity Financing
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