Business

Creditas revenue rose 56% in 2020's Q4 surpassing BRL 100 million

In 2020's last quarter, Creditas reached a record new loan origination of BRL 312.7 million

Photo: Sergio Furio, CEO and founder at Creditas/Courtesy
  • Contribution margin (discounting funding costs, servicing costs, credit provisions and taxes) ended the quarter at 51.1%;
  • In Q4-20, Creditas completed 4 securitizations for a total of BRL 239 million with Debt Capital Markets.

Creditas, a Brazil-based online collateral loan platform announced on Monday the results corresponding to the 4th quarter of 2020: its revenue rose 56%, surpassing BRL 100 million due to the growth re-acceleration started in Q3-20 and expansion of its credit portfolio, as the CEO and founder Sergio Furio told LABS in December.

Source: Creditas IR

According to Creditas results report, the continued quality of its credit portfolio and resilience of debt capital markets enabled the fintech to continue the accelerated growth path that its had prior to COVID-19 and resulted in a record new loan origination of BRL 312.7 million in the quarter.

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Contribution margin (discounting funding costs, servicing costs, credit provisions and taxes) ended the quarter at 51.1% as we increased the leverage of the credit portfolio. Net loss fell 18% from Q4-19 despite increase in SG&A (Selling, General and Administrative Expenses) as Creditas gained scale through the expansion of its credit portfolio and the related boost in revenues.

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In Q4-20, Creditas completed 4 securitizations for a total of BRL 239 million with Debt Capital Markets, “showing high resilience for Creditas as investors increase appetite to our unique asset class,” it said. “We issued a new FIDC (FIDC Auto III) in which S&P reaffirmed the AAA local rating for the senior quotas.”

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