Issue link: http://endeavor.uberflip.com/i/971013
SERGIO FURIO Brazil, Creditas Spanish-born Sergio Furio (40) is a banker-turned-entrepreneur. After graduating with a degree in Business Administration in 2000, he started his career as an investment banker at Deutsche Bank. In 2005, Sergio left to join BCG Spain as a strategy consultant, specializing in financial services. He then transferred to the firm's New York office where he led a European bank's technology transformation by building the first integrated real-time core banking system in US. After 4 years, a $500M investment and 1K FTEs working on the project at one point, Sergio realized there had to be a cheaper and faster way to build modern financial services. Ready to apply his rising entrepreneurial ambitions to the right market, he began researching and discovered Brazil's consumer debt problem through his Brazilian wife. He quickly started referring to Brazil as the disruptor's paradise, and, before long, he packed his bags to make his way there. Built to restructure Brazilians' debt with lower interest rates and higher maturity, Creditas uses innovative analytics and borrowers' assets to offer loans charging one-fourth to one-half of what banks and unsecured domestic fintechs do. It funds loans using capital fro institutional investors or through partnerships with traditional financial institutions using houses and automobiles as collateral. The only digital platform for secured loans in the country, Creditas offers an end- to-end vertical platform that acquires customers, processes loans, manages the approval process and loan formalization.