MICROCAPITAL BRIEF: Fintech Supersim Raises $6m in Debt for Microfinance in Brazil

Supersim Análise de Dados e Correspondente Bancário, a Brazilian financial technology (fintech) startup, recently entered into a securitized debt agreement with a cap of BRL 30 million (USD 5.7 million), arranged by Navi, a Brazil-based asset manager. The source or sources of the funds remain confidential. This is the first time Supersim has raised debt financing, and the move is expected to be followed by a Series A equity raise during 2021.

The firm reportedly is “rapidly growing” during the COVID-19 pandemic, although other fintechs in the country have suffered. Meanwhile, CEO Antonio Brito explains that Supersim “recently launched a fast-funding feature, where we deposit the loan proceeds in customers’ bank accounts within 30 minutes or less after approval or we do not charge interest.”

Supersim was founded in 2019 and offers collateral-free microloans as well as loans using mobile phones as collateral. Its loans are all digital and range in term from 4 months to 12 months. Each customer pays a registration fee of USD 75 before receiving her or his first loan. Data indicating the size of the firm are unavailable.

By Nathan Kiplagat, Research Associate

Sources and Additional Resources

BNamericas article
https://www.bnamericas.com/en/news/brazilian-fintech-supersim-raises-debt-financing-to-fund-rapid-loan-book-growth

Supersim homepage
https://www.supersim.com.br/

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