Le Lézard
Classified in: Science and technology, Business
Subjects: OFR, VEN

10 times in 10 months: REBEL announces funding of R$ 167 million


SAO PAULO, Aug. 13, 2019 /PRNewswire/ -- REBEL, an online personal loan platform, announces its second public offering of regular debentures. The Brazilian startup raised R$ 167 million via securitization of financial loans, which amount is ten times greater than the R$ 16.6 million it raised in 2018. Issued by the securitizer VERT Capital, the papers were purchased by XP Asset Management, Franklin Templeton, and other players.

In addition to the higher volume, the cost of raising capital was lower in this second offering: CDI rate plus 5.75%, compared to 6% for the previous offering. For the CFO of REBEL, André Botelho Bastos, "The size of growth in the amount of the issuance in such a short period of time is a rare occurrence in the Brazilian market, and shows investor confidence in REBEL and in the quality of the assets that we are creating."

The securitization allows the startup to service more consumers: "It is the fuel for us to continue accelerating. We have very advanced loan-analysis models that use Machine Learning and Artificial Intelligence. This allows us to assess and price every loan request precisely in just a few minutes, which guarantees us a default rate that is substantially lower than that of the market," Bastos explained.

The second issuance is just the beginning of a new phase for REBEL, with a focus on improving the client's experience. The company innovates so that it can offer even lower rates and more benefits to the consumer, in addition to offering profitability with governance for investors. "Banks usually say they are obligated to charge high interest rates because non-payment is high, causing a vicious and negative cycle. We want to create a virtuous cycle that inspires more confidence, security, and improved loan proposals in Brazil," Bastos concluded.

About REBEL 

The mission of REBEL is to lead a transformation of financial services in Brazil. The company uses Machine Learning and Big Data to offer personalized loan proposals, and it is the only fintech in the Brazilian market to use blockchain to certify contracts. With the start of its operations in 2017, REBEL has already accumulated R$ 4 billion in loan applications, and in 2018 it raised US$ 7 million with investors, led by the Monashees fund. In the second half of 2019, the company is preparing a new round of capital-raising, series B. www.rebel.com.br.

Telephone for contact: +55 11 2344-9100.

SOURCE Rebel


These press releases may also interest you

at 20:40
Osisko Development Corp. ("Osisko Development" or the "Company") reports its financial and operating results for the three and twelve months ended December 31, 2023 ("Q4 2023"). Q4 2023 HIGHLIGHTS Operating, Financial and Corporate Updates: 2,090...

at 20:39
TSX VENTURE COMPANIES BULLETIN V2024-0926 VALLEYVIEW RESOURCES LTD. ("VVR")BULLETIN TYPE:  Resume TradingBULLETIN DATE: March 28, 2024TSX Venture Tier 2 Company Reference is made to our bulletin dated March 26, 2024 with respect to the listing of the...

at 20:30
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Sonder Holdings Inc. resulting from allegations that Sonder may have issued materially misleading business...

at 20:00
"We are even more clear that we must focus on building sustainable, predictable, and enterprise with stable growth. " Speaking at the 2023 annual results conference on March 28th, Fosun International Chairman Guo Guangchang said, "We are even more...

at 20:00
The "Finland Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2024 Update" report has been added...

at 19:53
The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for 2023.  Passenger activity significantly increased by 9.2 million, or 25.8 per cent, from 35.6 million to 44.8 million in 2023, when compared to...



News published on and distributed by: