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VEF AB ( (SE:VEFAB) ) has shared an announcement.
Creditas, a major portfolio company of VEF AB, has successfully closed its acquisition of Andbank Brazil and initiated a Series G funding round, raising USD 108 million. This strategic move, approved by the Brazilian Central Bank, enhances Creditas’ market position by integrating banking services with its existing credit, insurance, and investment offerings. The funding round, led by Andbank, values Creditas at USD 3.3 billion and positively impacts VEF’s financial metrics, reflecting an 8.2% increase in their reported NAV. Additionally, Creditas strengthens its leadership team by appointing Ricardo Forcano as CTO/COO, leveraging his extensive experience from BBVA to drive technology and operational advancements.
More about VEF AB
VEF AB is an investment company listed in Sweden, focusing on growth stage private fintech companies. They take minority stakes and actively participate with board representation in their portfolio companies, investing across various financial services such as payments, credit, mobile money, and wealth advisory, particularly in emerging markets.
Average Trading Volume: 1,417,363
Technical Sentiment Signal: Buy
Current Market Cap: SEK2.42B
For an in-depth examination of VEFAB stock, go to TipRanks’ Overview page.