ClickCash raises € 900,000 in equity and starts FIDC fundraising for €8,500,000.
Clickcash, our first loan originator from Brazil, has raised €900,000 in equity during April, from Tolaram group´s fintech investment arm. Tolaram is a family-run Singapore based conglomerate with a strong presence in many emerging markets. The funds are used to strengthen ClickCash, and help raise funding from the FIDC (Fundo de Investimento em Direitos Creditorios). The FDIC is a financial instrument widely used in Brazilian credit markets, and traded frequently by international investors.
ClickCash announced its entry into the FIDC during May, in partnership with CPD Capital, and the company aims to raise €8,500,000 and deploy the funds until 2022. With the funding, Click Cash will be able to originate 5 to 10 times more loans, expanding its credit offer to customers all over Brazil. In addition to the participation of assets in the Fund, Click Cash will also own part of FIDC’s products, which reinforces how confident the company is in the success of this strategy.
“The structuring of this FIDC will allow us to attract funding, and subsequently, allows the expansion of Click Cash personal loans in Brazil”, highlights Daniel Cianciarulo, chief operating officer at Click Cash.
Responsible for the entire operation and structuring of the FIDC, CDP Capital is a company specialized in offering funding to fintechs and lendtechs throughout Brazil.
In the last 5 years, CDP Capital has structured and invested in more than 10 funds for fintechs, that add up to more than €114 million (in assets and more than € 815 million in operations.
For Delano Macêdo, CEO of CDP Capital, the partnership with Click Cash is in line with the company’s mission to democratize credit using technology, always aligned with ESG conduct (Environmental, Social and Governance).
“We want to evolve our presence in the personal credit area with the help of big data and the Click Cash experience”, explained the CEO.
Since the launch of the mobile app, ClickCash has had more than 440 thousand downloads on Google Play Store, with a 4.4 out of 5 rating – one of the best in the segment, and is currently available for smartphones with the Android operating system.
As of now, 30% of loan applications in the app are used to pay bills, 18% for investment purposes, and 13% for home renovations.
The ability of ClickCash to raise funding from the market from institutional investors is a strong sign of the teams competence and the company´s business plan. Despite raising institutional funding, ClickCash has agreed to keep a small amount of loans listed on Income to allow our investors to participate in its success.
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