Fintech CashGO, specialized in real estate credit, structured a FIDC (Credit Rights Investment Fund) worth R$120 million with Banco XP, Augme Capital, Arx Investimentos and RBR Asset Management. The operation aims to expand the startup’s rent advance offer and strengthen its performance as a kind of “real estate agents’ bank”.
Founded by João Victor Palhares, Luidi Andrade and Carolina Valdes, CashGO offers liquidity to property owners through partner real estate agencies. The solution allows you to advance up to 24 months of rent, with credit release within 24 hours.
Today, the startup already connects with more than a thousand real estate agencies across the country, who now offer the service to their clients as a way of attracting and retaining property owners. The company claims to have served more than 250,000 owners and anticipated more than R$200 million in rent since its founding.
Market vision
The new FIDC expands the company’s funding capacity. “This investment opens a new cycle of growth, with more funding to expand access to our product and strengthen the ecosystem of partner real estate agencies”, says João Palhares, CEO of CashGO, in a note.
Without revealing specific numbers, the executive states that the company has been doubling its portfolio year after year and keeping default rates under control. According to João, this performance is already reflected in the cost of capital, which has fallen by half in the last two years.
Estimates from CashGO itself indicate that Brazil generates around R$350 billion per year in rent. In this scenario, the startup expects to grow up to ten times in the next three years, combining the anticipation of rents with new financial solutions for the sector.
