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