Creditas acquires Bcredi to boost its real estate vertical
Today we announce the acquisition of Bcredi, a digital platform focused on real estate financing.
São Paulo, January 5, 2021.
Today we announce the acquisition of Bcredi, a digital platform focused on real estate financing, with the objective of strengthening the structure of Creditas’ real estate vertical and increasing our commitment to partnerships as a way to democratize access to home equity in Brazil.
Home equity was our first product and we managed to become a benchmark in Brazil not only because of our ability to grow at an accelerated pace but, more importantly, to create a home equity underwriting process that became a benchmark in Brazil. Now with Bcredi, we will accelerate even further and move forward in creating a real estate ecosystem for both Creditas customers and companies that want to offer our product to the Brazilian consumer.
Founded in 2017 by Maria Teresa Fornea Caron (“Tete”), Bcredi is a fintech company specialized in home equity and mortgage financing, focused on B2B2C channels and a new “LaaS” solution (lending-as-a-service). We have known Tete personally since 2016, when we were still at the small house on Avenida Nova Independência, in Sao Paulo, and we are very proud to bring her to our leadership team. She brings incredible real estate expertise and her approach both human and energetic has everything to do with our way of entrepreneurship.
Tete now becomes our new VP of real estate credit and consolidates the leadership of Creditas’ home equity product and Bcredi’s real estate business. Along with her, Bcredi’s leadership will play an essential role in the development of the real estate vertical at Creditas. “Our purpose of making mortgage loans uncomplicated and positively impacting the economy is further strengthened by this new step with Creditas”, comments Tete.
Viviane Sales, our previous VP of Home Equity, takes over the Creditas @work business unit, which groups all the employee benefits products for our partner companies: payroll loans, salary advance, benefits card and pension funds, as well as the coordination of the @work channel for our other Creditas products, including our innovative e-commerce (Creditas Store). Banco Bari, current partner and co-founder of BCredi, sells its stake in the company. The Brazilian investment fund eBricks (now Igah Ventures), becomes a shareholder in Creditas, adding its expertise to the other fintech investors.
The Bcredi brand will continue to operate in the coming months and we expect the integration of the teams to happen progressively during 2021. The transaction has yet to be approved by CADE. With the integration of Bcredi, we reinforce our position as a customer platform focused on three ecosystems: real estate, auto and salary.
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