Endeavor

6 2 Regulators and incumbents have embraced disruptive technologies in the sector as consumers become increasingly comfortable managing their money online, boosting fintech start-ups globally. In 2017, Endeavor Catalyst made four new investments into financial services companies, led by a trio of later stage fintech investments in Brazil. e banking sector has lagged behind other industries when it comes to a meaningful customer-centric transformation. Fintech has capitalized on this shortcoming, offering customer- centric solutions that are often faster, cheaper, and more accessible than existing offerings. In Brazil, companies like GUIABOLSO, founded by Benjamin Gleason and iago Alvarez (below), and CREDITAS, founded by Sergio Furio, are offering consumers new and more transparent ways to secure credit products that match their needs and risk profile. is is all happening in a country with increasing consolidation in the banking sector and with some of the world's highest interest rates. GuiaBolso is the leading Brazilian personal finance platform which democratizes consumers' financial information by giving them greater control over their data, as well as access to appropriate credit products. Secure online lending platform, Creditas, was 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 Brazilian lenders do. Both companies raised large growth rounds in 2017—$39M and $50M, respectively—from Europe's Vostok Emerging Finance and a number of other leading fintech focused funds. Other companies are facilitating global e-commerce by providing unique incentives and decreasing the purchase barriers. Brazilian company, EBANX, founded by João Del Valle, Wagner Ruiz, and Alphonse Voigt is allowing Brazilians to use domestic payments for transactions with merchants anywhere in the world. Why so much activity in Brazil? Brazil is the largest fintech market in Latin America with over 200 startups, a six fold increase over the past few years. A lack of banking services, high Financial Technology—now commonly known as "fintech"—has continued to hold an important place within the Endeavor Catalyst portfolio, representing about 20% of total investments. F I N T E C H : C O N T I N U E D I N V E S T M E N T G R O W T H I N T H E S E C TO R y Benjamin Gleason and Thiago Alvarez of GuiaBolso

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