Brazilian Fintech ‘SuperSim’: A Brazilian company named Supersim has gained about $30 million through debt financing. It is a micro money lending startup based company which is located in Sao Paulo. This will also help in improving the condition of the credit market of South America.
It is difficult for the business and peoples to get loans in South America. Because if a business or an individual has to take a loan they have the verify the process of the Creditworthiness which is too long and complicated too.
There is a statement on Brazilian Fintech SuperSim that it has gained about $30 million through debt financing. It is a micro money website that is this company is born out of dreams which are shared by all the members of its team: sayings yes to the people of Brazil, in a fast, simple, and safe way.
The people who are from the lower socioeconomic classes ( C and D ) will be benefited by this firm. They also said that firm will provide all the services like the other micro-lending companies in the world.
Loan procedure and Collateral
It offers loan service having a repayment period of 4-12 months. SuperSim also states that borrowers will pay back their loans keeping their valuable materials like Cars, phones, etc as collateral.
The President (Daniel Shteyn) of the company stated that no other Fintech micro-lending company has giving loans to new customers but we are taking this step for the lives of the people in this time of COVID-19 pandemic. We are taking mobile phones from people as collateral.
Navi has invested a big in the company apart from that, two investors have also invested their money in the SuperSim which are Distrito Ventures and 2 angels.
SuperSim also had plans to increase their loan lending capacity at the end of August 2020. Fintech also states that as compared to April 2020 there is an increment of 4% in the overall loan lending capacity in August 2020.