Fenwick Advised Open Co in $115 Million Series D Financing with Softbank

Softbank Latin American Fund investment was joined by Raiz Investimentos, IFC and LTS Investments.

Fenwick advised Open Co, a Brazilian Fintech which offers low credit interest rates to consumers, in a $115 million investment round led by Softbank Latin American Fund with participation of Raiz Investimentos, IFC and LTS Investments.

Created earlier this year by the merger of the two leading consumer credit platforms in Brazil – Geru, Brazil’s first credit fintech, and Rebel, the first credit fintech to use AI to assess clients financial health – Open Co aims at providing a fair credit environment for consumers in need of credit, helping to solve the country’s long lasting credit problem. Brazil has one of the highest interest rate spreads in the world. 

The proceeds will be used to boost Open Co’s expansion plans, with significant investments in technology and product development.

About Fenwick counseling of Open Co.

Fenwick & West LLP advised Open Co. in its $115 million investment from Softbank Latin American Fund and the original investors.

The Fenwick transaction team was led by corporate principal Eli Curi and associate Eugene Karlik. 

Fenwick & West LLP is a California based law firm with offices in Mountain View, Santa Monica, San Francisco, Washington, Seattle, New York and Shanghai.

Beyond the Law.News was not informed of nor could it verify the name of the law firms representing or acting on behalf of the other parties.