FinanZero, a Vostok Emerging Finance portfolio company closes US$10.5mn Series B funding round

Stockholm, April 26, 2019 (GLOBE NEWSWIRE) --

VEF would like to congratulate the team at FinanZero on the successful closing and of their Series B funding round officially announced this week. FinanZero raised SEK 100mn / $10.5mn in the round. 

FinanZero's official press release

We are also very happy to welcome experienced Nordic and emerging market focused investors Dunross&Co and Atlant Fonder, amongst others, to the cap table, further deepening the capital bench and experience behind this fast growth Brazilian fintech.

Since inception, the business has gone from strength to strength, leveraging off its Scandinavian product and market experience, positioning itself as Brazil's leading digital loan broker. This funding round shows the market faith in the future of the business, while also providing the capital necessary for the FinanZero team to take the business to the next level.

As stated in the Company's official press release, Brazil remains our favored fintech market globally, and through FinanZero we have one of the best ways to play its extremely attractive consumer finance market. With a strong team, partnerships and growing traction, we are more than happy to continue to support team FinanZero on this exciting journey. Following the round, Vostok Emerging Finance has a 18% holding in the company.

For further information please contact:
Henrik Stenlund, CFO: +46 (0) 8-545 015 50

Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.

Vostok Emerging Finance's Certified Adviser on Nasdaq First North is Pareto Securities AB, +46 8 402 50 00, certifiedadviser.se@paretosec.com.

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