Open Co is a consumer credit company that creates innovative, flexible and accessible products that transform credit into what it should be: a tool for growth, not debt.
Open Co aims to “finance consumption for Brazilians in a healthy way.”
Open Co was born in 2021 from the merger between two of the most innovative personal credit companies in Brazil - Rebel and Geru. The company is headquartered in São Paulo, Brazil.
Open Co provides clients with access to credit and access to tools that are designed to improve their financial lives, not make them worse. The process is 100% digital, with no bureaucracy involved; it claims to be fast, and the rates are lower than those of traditional banks.
Open Co has helped consumers save more than $500 million in interest expenses over the years and has been increasingly establishing partnerships with merchants, retailers and service providers to be closer to its clients’ point of need when requesting credit.
Open Co has provided nearly $405 million in credit to more than 200,000 people so far.
Open Co is backed by Goldman Sachs, IFC, SoftBank Latin America Fund, Raiz Investimentos, LTS, and others. The company raised $115M in a new roud on Dec 15, 2021. This brings Open Co's total funding to $140M to date.