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Business deals

SoftBank leads $231m funding round for Brazilian fintech lender

Tech investor looks to cash in on Latin America's consumer finance market

The SoftBank Group is betting that Brazil's now inefficient credit market will provide growth opportunities.   © Reuters
YUMIKO OSHIMA, Nikkei staff writer | Latin America

NEW YORK -- Japan's SoftBank Group has led a $231 million funding round for Brazil's Creditas, the fintech lender announced on Wednesday.

The SoftBank Vision Fund and existing Creditas shareholders joined the round. The SoftBank stakes will be held by the Latin America-focused SoftBank Latin America Fund.

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