The investment will increase Omni's capacity to assist their existing as well as new clients, thus supporting the private sector's recovery in the wake of the pandemic.

By focusing on the SMEs segment, including women-owned businesses, IFC aims to help close the existing financing gap for these two segments.

Creditas’ products and services will be available on Nubank’s app in Brazil by the end of this year.

The financing package consists of $130 million from IFC's own-account and a $270 million syndicated loan from a group of 10 banks.

RecargaPay is a mobile payments platform and wallet for Brazil that is focused on simplifying everyday payments for banked and unbanked consumers in Brazil.

The partnership aims to support the development of the distressed small and medium enterprises assets market 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.

Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country easing an outright ban on the service imposed last month.

This loan to Daycoval is being granted as part of IFC’s global response to combat the economic impacts of the COVID-19 pandemic.