Cielo sets up receivables fund for MSMEs

Cielo sets up receivables fund for MSMEs

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Brazilian payment company Cielo said Monday that it structured a BRL529 million ($97.3 million) receivables investment fund, or FIDC, with national development bank BNDES to provide credit to micro-, small- and medium-sized enterprises (MSMEs). The FIDC will be managed by Oliveira Trust and provide credit to companies and individual entrepreneurs that are "fighting the effects of the coronavirus pandemic," Cielo said in a securities filing. BNDESPar, the investment division of BNDES, will provid

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