Business

Brazilian Fintech Trigg is acquired by Vector investment fund

The market has been growing at a fast pace in the country, increasing competition with players such as the decacorn and Latin America's biggest fintech, Nubank

Brazilian fintech Trigg credit card
Trigg is a Brazilian fintech focused on online credit. Photo: Trigg

Vector, an investment fund owned by the Brazilian financial institution Omni, has acquired the total shares of the fintech Trigg. Vector already had part of the fintech and this Wednesday, 5th, as announced by Trigg according to Valor Econômico newspaper, has acquired the totality of shares of the other shareholders, the founders Marcela Miranda and Guilherme Muller

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The fintech was also in conversation with other funds to the operation, as also reported by Valor: G5 partners, Riverwood Capital, General Atlantic, and XP Investimentos. Launched in 2017, the fintech was valued at BRL 250 million and offers services such as online credit, including a credit card with an annual fee of BRL 9.90 and cashback service of up to 1.3% of the credit card bill. 

“We were looking for investors to further accelerate Trigg’s growth and reinforce the young public’s first-choice image for credit cards. With the excellent results of 2019, we were surprised by a proposal from Vector investors to acquire 100% of the business”, said Marcela Miranda to Gazeta do Povo newspaper, without disclosing the figures of the deal.