The company’s growth is expected to take off with this funding round; partnering with a leading Brazilian credit fund with considerable consumer finance experience
EmpreX announced that it had raised an USD 8MM debt round with SRM Asset. The transaction marks a fundraising milestone for EmpreX, a Brazilian Open Finance consumer solutions platform.
This capital will allow EmpreX to scale up significantly over the course of the next 12 months, enabling it to reach a portfolio size of over 50,000 loans.
EmpreX has been recognized as a pioneer in building solutions for its customers based on the recent regulatory Open Finance innovations in Brazil. Using new data sources and employing a redesigned, seamless borrowing experience for its customers, EmpreX has been able to offer its clients a unique value proposition in the form of better personal loans.
The consumer finance sector in Brazil offers unique features for investors. Although very high interest rates remain normal across multiple asset classes, the Brazilian Central Bank has been a world-leader in implementing Open Finance initiatives to improve the financial ecosystem. This year, Brazil overtook the UK as the biggest Open Finance market in the world, with over 28MM individuals sharing their financial data and with over 1.5 billion API calls recorded via the new infrastructure, a number three times as high as just last year.
EmpreX CEO Silvan Roth explains the significance of this transaction for the Brazilian fintech sector:
“After a long period of limited liquidity, this deal is evidence of investor interest returning to the market, with renewed faith in the Brazilian consumer.”
André Szapiro of SRM Asset highlights:
“Emprex is redefining access to credit in Brazil through innovative Open Finance solutions, promoting a disruptive shift in the market.”
In a strategic move, SRM Asset invested in the fintech, recognizing its potential to transform the financial sector with its unique approaches and ability to adapt and scale services effectively.
The company expects to be in the market later this year to raise a Series A equity round as a complement to their growth plans.
About EmpreX
Founded by an international team of scientists and financial professionals, EmpreX built the first financial services platform on the foundations of the new Open Finance infrastructure in Brazil. EmpreX has initially set its sights on better serving the long-ignored Brazilian working class with its personal loan solution, and will continue to expand its offerings across other financial services as it builds its customer base. The company has already registered significant interest from over 200,000 loan applicants on its platform since beginning operations in 2021.
About SRM Asset
With nearly 20 years in the market, SRM Asset is an investment fund manager focused on credit rights of large and medium-sized companies. It serves a diverse base of over 2,500 clients from various economic sectors throughout Brazil. The firm has over 300 professionals and manages about R$ 6 billion in assets.
