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Goldman Leads $270 Million Credit Line for Brazilian Fintech

  • Open Co plans to use financing to pursue growth opportunities
  • Brazil’s fintechs are consolidating amid fallout from pandemic
Raphael Zagury
Raphael ZagurySource: Open Co

Open Co, a Brazilian fintech that specializes in unsecured loans to individuals, is raising 1.5 billion reais ($270 million) through a credit line led by Goldman Sachs Group Inc.

The Wall Street bank is providing 1 billion reais and the rest will come from local investors, according to Raphael Zagury, Open Co’s chief financial officer. The funds will help the firm start to expand again after fallout from the Covid-19 pandemic forced it to pull back on lending, he said.