Vostok Emerging Finance invests into FinanZero, a marketplace for consumer loans in Brazil (Nasdaq OMX)
Stockholm, 2016-03-24 08:00 CET (GLOBE NEWSWIRE) --
Vostok Emerging Finance (VEF) today announces that it has concluded its first
investment of 2016 and its first in Latin America into FinanZero.com.br. VEF is
investing USD 1.2 mln for a minority stake of the company. The investment is
made in parallel with the Swedish VC-firm Webrock Ventures, which is
specialized in rolling out internet companies in Brazil.
FinanZero is a pioneer marketplace for consumer loans in Brazil. The business
is an independent broker for loans, negotiating the customer’s loan with
several banks and credit institutions, to find the loan with the best interest
rate and terms for the consumer. FinanZero handles the lending process from
start to finish, with the customer and the bank fully integrated into
FinanZero’s system. The business combines aspects of comparison, lead
generation and consumer loan brokerage.
This is a business model we have seen scale and succeed in other markets.
FinanZero has a very strong founding team with a successful track record and
experience from a leading consumer loan broker in Sweden.
Vostok Emerging Finance Managing Director Dave Nangle comments:
“I am very happy to announce our first investment of 2016 and our inaugural
investment in Latin America. We are very excited by the large opportunity in
Brazil and in due course the broader continent for this model. It is the
combination of the structural market opportunity, combined with a dynamic
experienced team behind what is a proven business model elsewhere that
convinced us to back FinanZero.”
Dave Nangle, Managing Director
For further information please contact:
Björn von Sivers, Investor Relations, Tel +46 (0)8 545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in
early stage modern financial services companies across emerging and frontier
markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto