The Banco Votorantim-backed business finance provider has received $30m from Franklin Templeton that will support its growth in Latin America.
Asset management firm Franklin Templeton has provided $30m of funding for Weel, a Brazil-based business lending platform backed by financial services firm Banco Votorantim, Reuters has reported.
Weel allows businesses to borrow money against their accounts receivables, through an online platform that uses artificial intelligence technology to structure the loans. It will put the funding into expansion in Brazil as it prepares to enter the Chilean and Mexican markets.
Banco Votorantim had joined venture capital firms Monashees and Mindset Ventures…
