Brazil's Banco Votorantim, which recently rebranded as Banco BV, said it has acquired online personal loan platform Just, which will help the bank tailor digital credit products to clients' needs.
The financial terms of the transaction were not disclosed.
Just was created in 2016 by Guiabolso Finanças Pessoais S.A., the creators of Guiabolso, a financial management and product curation app with six million users. According to a news release, Just is "strongly committed to fighting high market interest rates" and has already overseen the origination of about 500 million Brazilian reais of credit operations through 65,000 loans.
Guiabolso will continue as a partner of Banco BV, originating credit lines for Just and the bank on its platform.
As of Dec. 18, US$1 was equivalent to 4.06 Brazilian reais.