Brazilian retail group Via keeps advancing the strategies of financial services for its digital wallet banQi. After obtaining authorization from the Brazilian Central Bank for its financial solutions platform to operate under the Direct Credit Society license in July, banQi intends to offer BRL 300 million in credit concession until the end of the year.
André Calabró, CEO of banQi explains the initial funding was allocated from Via’s own capital. Formerly known as Via Varejo (parent company of brands such as Casas Bahia and Ponto). However, starting in 2022 the fintech is expected to raise funds through credit rights funds (FDICs).
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banQi’s credit portfolio adds to the BRL 4.7 billion of Via’s own credit portfolio. With 2.6 million active customers, banQi plans to launch credit cards and personal lines of credit next year, Calabró said.
Since the purchase of fintech Celer, banQi has extended digital account services to small and medium-sized businesses.
(Translated by LABS)