The Rockaway Ventures start-up division has sold its share in the Brazilian fintech company Creditas. The value of the share increased nearly 10 times over the past three years.
Creditas (BankFacil), based in São Paulo, Brazil, is an innovative digital lending platform focused on secured lending. Core products include a first-lien product version of home equity and auto loans, secured by the borrowers’ real estate or automibles. BankFacil partners with leading Brasillian lenders to create a lending network that implements cutting edge technoclogy to deliver a client driven, efficient and healthy way to access credit and financial services. BankFacil funds its customer loans both through investors and financial institutions, a proven approach creating efficiency for the entire industry. (The exit was in 2017.)