XP invests in Direcional’s startup and enters the mortgage market

Direcional Engenharia and XP Inc. signed this Thursday (9) an investment agreement in the real estate loan startup Direto. The agreement marks the entry of XP in the business created by Grupo Direcional with the acquisition of 49.9% of the capital.

The operation is subject to a few steps, among which is the approval of the negotiation by Cade (Economic Administration Council). Values ​​were not disclosed.

“This deal [acordo] marks XP’s entry into the mortgage loan market, offering innovative financial products for this sector that have total synergy with our customer base. For this, we are going to rely on Direcional’s expertise,” said José Berenguer, executive president of Banco XP, in a note.

With independent operation of the two associated groups and its own team in São Paulo and at its headquarters in Belo Horizonte (MG), Direto will offer three complementary initial solutions. The first will be the granting of loans, including in partnership with other financial institutions, for the acquisition of new and used properties by individuals.

Another line of action will be home equity, a modality in which the property is used as a loan guarantee. In addition to these, for construction companies and developers, Direto will work with the acquisition of receivables portfolios, shortening the companies’ cash cycle and freeing up working capital in the operation.

Under the agreement, Direcional will act in the origination of clients, mapping their origins, and in the formation of a team with expertise in the real estate market and in credit analysis. XP will handle the structuring of funding solutions, as well as assist in attracting customers and developing strategies and technological tools for relationship and service journey.

“Our intention is to maximize financing opportunities that the market already offers, but on a new scale and capacity of relationship with customers that XP’s technology and distribution network can provide”, said Ricardo Couto, an executive at Direto.

“On the one hand, we have property buyers or owners and, on the other, companies in the sector looking for resources for their projects, as well as investors looking for safe opportunities, with real estate guarantees. And we will bring them together in an innovative way”, said Ricardo Ribeiro, president of Direcional.