Merger of two largest personal credit fintechs redefines credit market in Brazil
RIO DE JANEIRO BRAZIL – In Brazil, the flag has been dropped for the consolidation of fintechs and the emergence of the great competitors of the future in the credit market. The two largest personal credit platforms, Geru and Rebel, yesterday announced a business merger, according to sources close to the subject.
In the resulting company, Geru will represent about 65% of the total and Rebel 35%. The company is born valued at R$1 billion and with a project to multiply credit origination tenfold, from an estimated R$900 million this year to over R$9 billion in 2025.
The company aims to be one of the main participants in extracting wealth from a market estimated at R$1.2 trillion, which will experience a whole new cycle, driven by Brazilians’ readiness in adopting new technologies and boosted by the new regulatory environment with open banking.
However, the brands remain separate, although businesses and partners will operate under a single holding company, Open Co. But together, the companies aim to raise revenues of R$3.4 billion by the end of 2025.
Source: Exame
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.
Brazil runoff, Sunday, October 25: When is the Brazil runoff election. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.