Here are the highlights on Brazil’s tech and business scene in October:
Grin, the Mexico City-based electric scooter company backed by Y Combinator, is merging with São Paulo-based Ride to further the company’s expansion across Latin America. This comes shortly after Grin raised a $45 million Series A round.
Innova Capital led a R$22 million Serie A investment in the Brazilian fintech Bom Pra Crédito.
Veronica Serra, Founder of Innova Capital, had a conversation with BayBrazilians, last Sep 20, at Silicon Valley Bank.
Brazilian credit card processor Stone Pagamentos priced its IPO above its initially suggested price range, raising $1.5 billion. Shareholders include 3G Capital partners and Madrone Capital Partners, majority owners of Walmart.
Visa Inc. invests in Brazilian digital payment company Conductor. Backed by Riverwood Capital LLC in 2014, Conductor currently handles 69 million accounts in Brazil.
Axxon Group, a venture capital fund based in Rio de Janeiro, acquired a majority stake in Westwing, an e-commerce home, and decoration company. The value of the investment was not disclosed.
Brazilian co-founder of Brex talks about the challenges of being an immigrant and entrepreneur in Silicon Valley
Last May, Henrique Dubugras participated in BayBrazil’s evening with Brazilian startups, in San Francisco.
SoftBank Group Corp.’s Vision Fund invested $100 million in Brazil-based delivery startup Loggi, betting on the county’s rapid e-commerce growth.
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China’s Tencent invests $180 million in Brazil fintech Nubank boosting the company’s valuation to $4 billion. Tencent is investing through a $90 million capital increase and is also paying $90 million to acquire partial stakes from current Nubank shareholders.
Brazilian co-founder of Brex just raised a $125 million Series C. The corporate credit card startup is now at $1.1 billion valuation.