Accion’s Frontier Investments Group and Redpoint eventures Invest in BankFacil (Latin America)

Source: Accion, Redpoint eventures

Accion’s Frontier Investments Group, a venture equity initiative focused on the financial sector in emerging markets, and Redpoint eventures, a Brazil-focused venture capital firm, have invested BRL10 million (approximately US$2.9 million) in a Series A round of funding for Brazil-based consumer lending company BankFacil. The company secures its loans with assets, such as real estate or vehicles, and uses digital channels rather than physical branches to reach customers.