BTG Pactual, Latin America’s largest investment bank, has officially announced the acquisition of a significant stake in the digital credit platform meutudo. The transaction involves purchasing up to 48% of the fintech, valuing the company at approximately R$ 1 billion (≈ $193 million) while signaling a major push into the retail sector. This strategic move combines a primary capital injection with substantial funding capabilities to accelerate the platform's growth trajectory.
Strengthening Retail Strategy
Roberto Sallouti, CEO of BTG Pactual, emphasized that this acquisition reinforces the bank's strategy to expand its footprint in the competitive retail market. The deal aims to broaden the institution's capacity to offer accessible, responsible, and high-quality credit to millions of Brazilian consumers. Subject to regulatory approvals, this partnership marks a pivotal evolution in the bank's diversification efforts beyond traditional investment banking.
The collaboration between the two financial institutions is not new, as they have been building a robust relationship over the past few years. BTG Pactual was previously responsible for providing more than 80% of the funding used in meutudo’s credit origination processes. This historical synergy ensures that the new equity structure is built upon a foundation of established stability, governance, and scalability.
Operational Growth and Metrics
Founded in 2019, meutudo has rapidly scaled its operations to originate over R$ 20 billion (≈ $3.86 billion) in credit while serving a massive base of 19 million customers. The fintech currently originates approximately R$ 2.5 billion monthly (≈ $483 million), focusing heavily on private payroll loans and INSS consignment credit lines. According to company data, more than R$ 10 billion (≈ $1.93 billion) of the total volume was generated specifically through the new private payroll modality.
Márcio Feitoza, CEO and co-founder of meutudo, highlighted that well-designed credit serves as a crucial tool for individuals to achieve their financial goals efficiently. The platform initially operated as a marketplace for third-party bank loans before shifting its business model in 2020 to originate its own loans. This pivot allowed the company to utilize Investment Funds in Credit Rights (FIDCs) to secure necessary capital for expansion.
Transaction Details and Ownership
The financial terms of the agreement facilitate the exit of Goldman Sachs Asset Management, which had acquired a 10% stake in the company during a previous funding round in 2021. Meanwhile, the venture capital firm DOMO.VC will retain a minority shareholding, continuing its support alongside the new majority partner. This restructuring consolidates the capitalization table while bringing in a strategic heavyweight to drive future development.
BTG Pactual has indicated a clear intention to potentially acquire full control of the fintech should the partnership evolve favorably in the coming years. The deal underscores the bank's confidence in meutudo's digital origination capabilities, pricing structure, and overall asset quality. By integrating these digital strengths, the investment bank secures a vital channel for distributing credit products to a broader demographic.
This acquisition represents a significant consolidation in the Latin American fintech landscape, merging traditional banking capital with agile digital lending platforms. As BTG Pactual integrates meutudo’s extensive customer base and technological infrastructure, the market anticipates a more aggressive expansion into consumer credit. Ultimately, this transaction highlights the growing trend of established financial giants absorbing successful digital challengers to secure retail market share.