RIO DE JANEIRO, BRAZIL – The impact of fintechs in the financial system is occurring in several ways. Increased competition and the consequent reduction in consumer costs are two of the main aspects.
But startups are also broadening the alternatives for those seeking a financial product or service and those looking to do business in the sector.
This is the case of fintechs that operate in the modality known as peer-to-peer lending (P2P). These startups provide technology for credit analysis and digital platforms for intermediation between the two potential contracting parties.
This modality is now starting to gain scale in Brazil, little more than 3 years after it was regulated by the Central Bank.
Bulla is one of its pioneers and largest, which began operating in September 2019. The fintech has surpassed the R$3 million (US$575,000) mark in credit granted, with over 150,000 individuals registered.