Brazilian Fintech SuperSim, Which Focuses on Microlending, Secures $5.6 Million via Debt Financing

Source: Crowdfund Insider

Brazilian Fintech firm SuperSim, a microlending startup based in São Paulo, recently secured BRL 30 million (appr. $5.6 million) in capital through debt financing, so that it can improve the South American nation’s credit market.

Latin American consumers and businesses have expressed concerns about how difficult it can be to obtain loans, because the processes for determining an applicant’s creditworthiness may take too long and can be inefficient. The microlending firm mainly focuses on the C and D socioeconomic classes in Brazil. Like microlenders in other parts of the world, the company aims to democratize access to modern financial services, in order to promote financial inclusion.

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