Open Co was created earlier this year by the merger of Geru (an eight-year-old online lender) and Rebel (a four-year-old startup) to provide healthier consumer credit options in Brazil. The company offers a fully digital lending experience and tools aimed at improving customers' financial lives while avoiding extremely high interest rates. Open Co has provided nearly $405 million in credit to more than 200,000 people and helped consumers save over $500 million in interest expenses. The team projects nearly $196 million in revenues in 2022 (about 3x growth vs. 2021) and aims to allow customers to access over $616 million in financing in 2022. Executives say the business is profitable but currently investing heavily in growth, product and technology, resulting in cash needs above operating cash flow. The company is São Paulo–based and currently employs 230 people, more than half in tech and product.

Total raised

$115M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2021