Having recognized the opportunity represented by Brazil’s growing mortgage market, Marcelo Prata launched Canal do Crédito in 2009. In 2008, middle-class families in Brazil had been granted US$15 billion in credit. While this number seemed meager in comparison to U.S. and European markets, it was 10 times greater than in 2004. In this, Prata saw an opening for an online channel where consumers could get answers to their questions about real estate financing and find credit options as well.
Now, in 2012, it looks as though he was most certainly on the right track.