CredAluga, a fintech specializing in financial solutions for the rental market, announced today that it has secured R$22 million in funding. This financing round, led by Caravela Capital with additional contributions from Honey Island by 4UM, Norte Ventures, Terracota Ventures, and FJ Labs, aims to strengthen CredAluga’s position in the property technology (PropTech) sector. With plans to enhance its technology platform, develop new financial products, and expand its commercial reach, CredAluga is poised to transform Brazil’s rental market through a collaborative B2B2C model, working directly with real estate agencies.

A Growing Market Opportunity

According to recent data from the Brazilian Institute of Geography and Statistics (IBGE), over 20% of the Brazilian population lives in rental properties, which equates to approximately 17 million households and a total yearly transaction value of R$340 billion. With renters increasingly seeking flexible, non-guarantor-based solutions, CredAluga recognizes an opportunity to provide real estate agencies with competitive financial options. This recent investment will support CredAluga in delivering these services through an enhanced platform that leverages credit intelligence to empower agencies and drive industry growth.

Commitment to Innovation and Collaborative Growth

In a statement, Guilherme Blumer, co-founder and co-CEO of CredAluga, expressed enthusiasm about the potential impact of this funding. "We believe in collaborative innovation between startups and the real estate sector. This funding will enable us to invest in cutting-edge technologies and grow our workforce, which will help us reach up to five thousand new real estate agency partners over the next four years," he said.

With over 500 existing agency partnerships across Brazil, CredAluga has already positioned itself as a key player in the market and is projected to close 2024 with R$30 million in revenue. By broadening its reach, the fintech aims to capture 15% of the Brazilian market share by 2029. This goal reflects the company’s commitment to supporting real estate agencies in enhancing their service offerings and competing with large online rental platforms, ultimately enabling more renters to access housing solutions tailored to their needs.

Empowering Real Estate Agencies with Financial Solutions

As rental guarantees remain a critical aspect of the leasing process, Daniel Santos, co-founder and co-CEO of CredAluga, emphasized the importance of offering more accessible and flexible options. "Real estate agencies have held their ground against startups that aimed to disrupt their role, proving their value to the industry. Our mission is to empower them by providing technology and financial products for their client base. Many renters face limited guarantee options, often having to rely on guarantors, high deposits, or costly insurance policies. CredAluga’s goal is to broaden the range of available financial products so agencies can offer renters and property owners greater security and convenience," Santos said.

The investment was spearheaded by Caravela Capital, which has backed companies such as Mottu, Logcomex, and Caju, alongside notable investors like Honey Island by 4UM, Norte Ventures, Terracota Ventures, and New York-based FJ Labs. Lucas Lima, a partner at Caravela Capital, shared his insights on the investment, stating, "We invested in CredAluga because of their exceptional team, which stands out in terms of market experience and strategic vision. The rental guarantee market is growing at an annual rate of about 30%, and we believe CredAluga has the potential to lead this sector while also establishing itself as a primary provider of financial products for real estate agencies and their clients."

Leadership with Deep Industry Roots

CredAluga’s leadership team brings a wealth of experience in real estate and financial technology. Daniel Santos joined the real estate industry in 2013 as rental director at Casa Mineira, one of Brazil’s largest real estate agencies with a history spanning nearly 40 years. During his tenure, Santos expanded the company’s rental management portfolio from 500 to 5,000 contracts. Meanwhile, Guilherme Blumer, co-founder and co-CEO, has held roles at major industry players such as ZAP Imóveis, Hypnobox, and Brasil Brokers. "By using advanced technology and credit intelligence, we simplify the rental process, providing real estate agencies, property owners, and tenants with security and efficiency," said Blumer.

Strategic Partnerships for Market Strength

CredAluga recently entered a strategic partnership with CUPOLA, a real estate intelligence consultancy. This alliance is expected to bolster CredAluga’s market presence and increase growth opportunities. As part of this collaboration, CUPOLA founder Rodrigo Werneck has taken on the role of Chief Marketing Officer and Director of Market Relations at CredAluga. The fintech also works with prominent real estate agencies, including Apolar Imóveis in Curitiba, Ivan Negócios in Uberlândia, Beiramar Imóveis in Brasília, Aliança Imóveis in Guarulhos, and Franciosi Imóveis in Itapetininga.

With its latest funding, CredAluga is well-positioned to drive innovation in Brazil’s rental market. By expanding its partnerships and developing technology-driven financial solutions, the company aims to empower real estate agencies, offering renters and property owners flexible, accessible options. As CredAluga continues its expansion, the company is committed to reshaping the rental landscape, supporting the growth of the real estate sector, and enhancing the financial well-being of renters across the country.