Portfolio
We invest in great companies, back our best companies harder and watch them compound – portfolio concentration is a goal not a risk.
Creditas is Latin America’s leading digital lending company with a focus on leveraging collateral to offer loans to consumers at more affordable rates.
Brazilian consumers pay some of the highest interest rates in the world, with average unsecured loan rates comfortably north of 100%. Secured lending remains highly under penetrated with 70% of all homes and cars, valued north of $3tln, owned debt free – this is Creditas opportunity space.
Konfío builds digital banking, payments and software tools to boost SME growth and productivity.
Over 7 mln Mexican SMEs continue to be underserved by traditional banks with poor access to financial services – only 3 out of 10 have access to formal credit. With a credit-first approach, Konfio has become the go to house for small business credit in Mexico. A full financial services offering for Mexico’s SME base is the roadmap from here.
Juspay is one of India’s leading payment companies.
India has one of the most advanced and complex electronic payment infrastructures globally and was an early mover on mandatory two factor authentication. This has resulted in friction and challenges unique to India which Juspay has been solving for some of India’s largest merchants and banks. Juspay has created a unifying layer of products and value-added services that improves conversion rates for merchants and other stakeholders in the payment value chain. Juspay has had more than 200 mln downloads of its SDK and facilitates more than USD 100 bln of annualised payment volume for some of India’s largest merchants including Amazon, Flipkart, Uber, Swiggy, Ola and Cred.
Solfácil is a renewable energy investment platform that allows people to invest in solar energy.
Solfácil is building a full ecosystem for solar energy adoption in Brazil, where electricity market dynamics, cheap labor, high levels of home ownership, a favorable regulatory environment, and ideal climate conditions contribute to a significant TAM as solar adoption is forecast to rise from 0.8% to a conservative 5% by 2025.
TransferGo is a rapidly growing, low-cost, digital money transfer business.
Global remittance volume is USD 670 bln+ annually and growing. Within this, digital transfers are becoming increasingly prominent. TransferGo is a leader in their segment of focus, blue-collar migrant workers across European flow corridors, while continuing to expand their product suite to include small business cross border flows and remittance as a service. TransferGo dramatically cuts transactional costs for blue-collar workers sending money cross border to families back home.
Rupeek is India’s fastest-growing asset-backed digital lending platform focused on gold-secured loans.
Over 90% of Indians do not have access to formal credit, and for those who do have credit, 60% is in the form of expensive unsecured loans. At the same time, 95% of their net worth is held in some form of asset, with Indian households holding over 25,000 tonnes of gold. Starting with gold-backed lending, Rupeek is solving for this paradox by building products to make credit accessible to the masses in a fair and convenient manner and is contributing to the financial inclusion of the Indian population.
Abhi is a financial wellness company offering early wage access to employees in Pakistan.
In a country where less than 2mln people have access to formal credit, Abhi allows employees to access their earned income and avoid expensive payday loans when they need it most. Modernizing the pay cycle is the most fundamental transformation a company can make to its relationship with employees, and as a result, Abhi’s partner companies benefit from a more motivated workforce with higher satisfaction and retention of employees.
FinanZero is a digital marketplace for consumer loans in Brazil.
Acting as an independent broker, FinanZero negotiates the customer’s loan with several banks and credit institutions at once to find the loan with the best interest rate and terms for the consumer. FinanZero handles the lending process from start to finish, with the customer and the bank fully integrated into their digital platform.
BlackBuck is the largest online trucking platform in India, driving 90%+ market share of all online trucking activity.
BlackBuck has a globally unique, vertically integrated approach to build the trucking marketplace. BlackBuck digitizes fleet operations for truckers (providing predominantly payments solutions around tolls and fuel) and operates a marketplace matching trucks with relevant loads. The platform has close to 700k+ truckers and 1.2mn+ trucks on its platform, and it sees over 15mn+ in monthly transactions.
Nibo is the leading accounting SaaS provider in Brazil, transforming the way accountants and SMEs interact in one of the most complex and regulated accounting and tax environments in the world.
The Nibo platform uses technology to offer a suite of financial management tools to accountants and SMEs, including accounts and bank reconciliation, payment of bills, cash flow projection tools and issuance of invoices and boletos, empowering accountants to better and more profitably serve their customers and cross-sell additional value-added services.
Finja is a digital lending platform focused on the financial wellness of businesses and their employees in Pakistan.
Finja offers credit products to small businesses and salaried professionals. Operating through various partnerships and data sources, Finja promotes the financial wellness of both businesses and consumers to gradually transition Pakistan to a cashless society.
Mahaana is Pakistan’s first digital wealth manager.
Mahaana is a digital wealth manager that aims to improve the financial wellbeing of Pakistanis through savings and investments. Starting by focusing on the pension opportunity at some of Pakistan’s largest
corporations, Mahaana aims to first become the Vanguard of Pakistan, offering a digital platform for
corporates to provide pensions to employees and broaden the offering from there.
Minu is an employee financial wellness company and the market leader for salary on demand in Mexico.
Minu solves for the liquidity gap experienced by employees in between paychecks by offering 24/7 instant access to employees’ earned wages for a USD 2 fixed fee. In doing so, Minu’s solution reduces financial stress and allows users to avoid expensive loans in a country where 75% percent of workers live paycheck to paycheck, 33% take loans to cover their recurring basic expenses, and only 12% have a savings account.
Tinkoff Bank is the largest independent digital bank in the world, providing innovative online retail financial services through its high-tech branchless platform to customers in Russia.
Founded in 2006, Tinkoff Bank is based in Russia and is part of London-listed TCS Group Holding PLC.
iyzico facilitates the online shopping experience by providing secure payments solutions to both buyers and sellers in Turkey.
Founded in 2013, iyzico is based in Turkey and is now part of PayU, the fintech group of Naspers.
BlackBuck is the largest online trucking platform in India, driving 90%+ market share of all online trucking activity.
BlackBuck has a globally unique, vertically integrated approach to build the trucking marketplace. BlackBuck digitizes fleet operations for truckers (providing predominantly payments solutions around tolls and fuel) and operates a marketplace matching trucks with relevant loads. The platform has close to 700k+ truckers and 1.2mn+ trucks on its platform, and it sees over 15mn+ in monthly transactions.
VEF exited 40% of its initial stack in BlackBuck in the companies IPO in Nov-24
blackbuck.com
Founded in 2020, Gringo is a one-stop shop for drivers in Brazil.
Gringo is building a “super-app” for drivers in Brazil with the ambition of becoming the drivers’ best friend. Vehicle ownership in Brazil is a cumbersome journey where owners face pain points driven by analogue processes, massive paperwork and broken legacy systems. Gringo’s vision is to become the “super-app” for drivers and has started by offering vehicle-documentation related services such as payments, BNPL solutions for drivers to pay for renewal of driving licenses, taxes and fines amongst other things. In less than two years, Gringo reached over 5 mln drivers on the platform, doubling the number in only four months.
