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BTG raises 49% stake in Fintech CredPago to increase its guarantee solution by credit card for the real estate market in Brazil

July 27, 2020
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Valor Econômico
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The company with solutions for the real estate market seeks to replace the guarantor in lease agreements.
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BTG Pactual entered into an agreement to increase its stake in CredPago to 49%, of solutions for the real estate market. The figures have not been revealed. The control of the company remains with the founding partners of the business.

According to Leonardo Felix, partner responsible for BTG's insurer, the bank has already seen expressive growth, in addition to greater potential for expansion, even with the pandemic.

"Our partnership started in January, when a fund managed by BTG Pactual bought 20% of CredPago, contributed to a 30% increase in the number of real estate companies linked to the company, including the adhesion of some of the largest in the country," he commented in notes the executive.

In June, the number of contracts generated by CredPago grew 173% compared to the same month last year. Today, there are already 60 thousand under management.

CredPago was founded in 2016 and developed a disruptive solution to replace the guarantor figure in the rental of real estate, allowing the tenant to do the process in a few clicks and pay with a credit card.

The conclusion of the current transaction is subject to approval by the Central Bank.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

BTG Pactual entered into an agreement to increase its stake in CredPago to 49%, of solutions for the real estate market. The figures have not been revealed. The control of the company remains with the founding partners of the business.

According to Leonardo Felix, partner responsible for BTG's insurer, the bank has already seen expressive growth, in addition to greater potential for expansion, even with the pandemic.

"Our partnership started in January, when a fund managed by BTG Pactual bought 20% of CredPago, contributed to a 30% increase in the number of real estate companies linked to the company, including the adhesion of some of the largest in the country," he commented in notes the executive.

In June, the number of contracts generated by CredPago grew 173% compared to the same month last year. Today, there are already 60 thousand under management.

CredPago was founded in 2016 and developed a disruptive solution to replace the guarantor figure in the rental of real estate, allowing the tenant to do the process in a few clicks and pay with a credit card.

The conclusion of the current transaction is subject to approval by the Central Bank.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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