Business

Brazil's retailer Via invests in credit fintech Uffa

The investment, the amount of which was not disclosed, is part of the Via Next program to accelerate the retailer's digital transformation

Brazilian retail group Via will have imported products with delivery within 15 days in its marketplace — Photo: Via/Courtesy

LABS

18.Nov.2021 09:29 BRT

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In September, Via began an investment program in startups and announced a minority investment in fintechs GoPublic, Poupa Certo, and Byebnk;
The amount of the investment was not disclosed.

Brazil‘s retailer Via announced the minority investment in fintech Uffa of debt renegotiation, credit application, and account opening.

With the investments, the owner of brands such as Casas Bahia, Ponto, and Extra.com, which is one of the largest retailers in Brazil, continues the Via Next program of investments and acceleration of startups, developed in partnership with the innovation platform Distrito.

The objectives are to speed up Via’s digital transformation and promote innovative solutions to improve the customer experience throughout its purchase and relationship journey. It is part of Via Next’s strategy to invest up to BRL 200 million in startups over the next five years through Corporate Venture Capital (CVC).

In September, the company kicked off the program and announced a minority investment in fintechs GoPublic, Poupa Certo, and Byebnk, which focus on intelligence to give credit, education, and financial inclusion, and cryptocurrencies.

Uffa is a marketplace that provides a positive journey for customers in solving financial problems, whether negotiating a debt or applying for credit.

The fintech has developed a cashback platform that encourages users’ financial education and recently launched Uffaencer, a portal aimed at the digital influencer, which offers a new monetization opportunity to the channel, helping followers get out of the red. In addition, the platform accepts diversified means of payments and offers credit to pay debts or purchase consumer goods by users. The startup currently has more than 14 million people in its base.

“Open innovation is the path we have chosen in partnership with Distrito, Brazil‘s largest hub for innovation and startups. We believe in the union between business and technology to improve the experience and expand the points of contact with our customers. Our doors are open to innovation to unlock value in our ecosystem, generate business that goes beyond retail, and in parallel leverage many startups,” says Helisson Lemos, CINO/ Marketplace of Via.