Presença raises R$300M in credit-rights funds to expand consigned lending
What's the deal? PresençaDealroom has a profile for this one. Try Dealroom →, a São Paulo-based payroll-lending fintech, has raised R$300 million through the issuance of shares in a Fundo de Investimentos em Direitos Creditórios (FIDC), a credit-rights investment fund. The company said the money will finance credit operations for beneficiaries of Brazil's private consigned-loan segment.
What's the endgame? With the new fund, Presença expects to disburse R$1 billion by next year. Its plan includes new technology and investment in artificial intelligence to strengthen sales through partner banking correspondents, known as corbans, cutting steps and speeding up approvals.
The firm already lends to beneficiaries of the National Social Security Institute (INSS), the FGTS severance fund, the federal SIAPE payroll system, and public-sector agreements.
Why now? The consigned-loan market has faced major changes since last year. Rule changes to the FGTS cut nearly 80% of birthday-withdrawal advances, according to the Brazilian Banks Association (ABBC).
Presença is betting on a more conservative stance. "The private consigned loan is like a new INSS, only more technological. It's a product that already has good public uptake, is extremely digital, and is still maturing," said João Guerra, director of partnerships (translated from Portuguese).
What could go wrong? The market is under strain from rising defaults. "The market has faced high delinquency, driven by credit models that take on high risks and charge very high interest rates. Presença does it differently: we offer credit consciously and more efficiently," said Adão Cruz, chief executive officer of Grupo PresençaDealroom has a profile for this one. Try Dealroom →.
The signal: Guerra argues the private consigned segment will become one of the category's volume leaders in coming years, and Presença is positioning for it by chasing "capilarity of funding to structure large operations and a secure back-office to support the product's longevity." The FIDC raise reflects how Brazilian fintechs are tapping structured-credit vehicles to scale lending as the payroll-loan market resets.
Read more: valor.globo.com
Image credit: Generated with Gemini
