Ride better and safer with Honda's RedRider program

Honda is committed to offering its customers the best experience with their motorcycles, that's why we created the RedRider program. The Honda RedRider program was developed so that riders can enjoy their motorcycle much more safely, helping them to develop their riding skills. But RedRider goes further: the Honda program … Continued

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Creditas receives US$ 260 million and gains gas to go public in the US

Creditas, a Brazilian secured loan startup, has been valued at US$4.8 billion (R$26.2 billion) in a new series F round of US$260 million (R$1.4 billion), Valor Econômico reported. . The company is planning to go public on the US Stock Exchange sometime this year.

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The round included new investors, such as Fidelity Management & Research, the Spanish fund Actyus and Greentrail Capital; and former, such as QED Investors, VEF, SoftBank Latin America Fund and Kaszek Ventures. Creditas' previous contribution was in December 2020, when it raised US$ 255 million (R$ 1.3 billion) and was valued at US$ 1.75 billion – that is, it gained unicorn status.

In the third quarter of last year, Creditas achieved revenue of US$ 46.9 million (R$ 256 million), a growth of 233% compared to the same period in 2020. On the other hand, at the same time it suffered losses from US$ 14.8 million (R$ 80.8 million).

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Creditas plans to aim for a market value of between $7 billion and $10 billion (Image: Reproduction/jcomp/Freepik)

Between losses and gains, the startup continues with its plan to seek a market value between US$ 7 billion and US$ 10 billion (R$ 38.2 billion to R$ 54.6 billion) in the IPO (public offering of shares, in English). The market estimate is that this will be the biggest initial offer of a Brazilian company in the year. CEO and founder Sergio Furio expects Creditas to have closed revenue of US$ 200 million (R$ 1.1 billion) in 2021.

According to Valor, the resources of the new contribution should be used mainly to maintain the growth and gain of customers, in addition to investing in more technology and planning mergers and acquisitions with other companies. Founded in 2012, the company currently has 4,000 employees spread across São Paulo, Curitiba, Porto Alegre, Recife, as well as Valencia (Spain) and Mexico City — in the latter, since 2019. In addition to credit, it offers renovation solutions selling used cars online (Creditas Auto) and electric motorcycles.

Read the article on Canaltech.

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