Here are the highlights on Brazil’s tech and business scene in April:
Brazil’s Magazine Luiza agrees to buy retailer Netshoes for US$62 million. The acquisition is aligned with the retailer’s efforts to increase its footprint in Brazilian e-commerce.
According to LAVCA, VC funding into LatAm nearly doubled in 2018, co-investments between global and Latin American investors are on the rise and transaction sizes are also growing. Brazil led the region across all stages of VC investment, capturing 55.9 percent of VC investment dollars in 2018.
A group of investors, led by entrepreneur Horacio Lafer Piva, Klabin’s chairman, invested US$ 5 million in brain4care, a Brazilian startup who developed a noninvasive device for measuring intracranial pressure.
Omiexperience, Brazilian startup focused on small businesses, raises a new round. Menlo Park-based Riverwood Capital LLC, investor of ride-sharing 99 among others, is investing US$20 million. Brazilian firm Astella Investimentos invested US$7 million last year.
The fintech FinanZero received a new round of investment of R$ 42 million from the Atlant Fonder, Dunross & Co, Vostok Emerging Finance. With the new round, the company reaches a total of R$ 62 million raised.
Optimism in Canada, China, India. Pessimism in Russia, Argentina. A new survey by The Conference Board reveals the global consumer confidence index. Confidence in Brazil and the US remained unchanged. “Consumers are likely to sustain spending, but more cautiously, amid a slowing global economy.”
Brazilian investors joined a special program organized by BayBrazil on Silicon Valley VC scene and tech trends.
Franklin Templeton has invested US$30 million in Brazilian-Israeli fintech Weel. The fintech is backed by monashees and Mindset Ventures and lends money to small-business clients by anticipating their receivables.
Linx acquired the company Hiper Software for R$ 17.7 million, however, the transaction can reach R$ 50 million. Hiper is a software developer focused on solutions for micro and small retailers.
Escale, startup which provides customer acquisition services to companies in telecommunications and healthcare across Brazil, raised US$ 22,6 million. The round was led by QED Investors and Invus Opportunities and the company’s previous investors, Kaszek Ventures, Rocket Internet’s GFC and Redpoint e.Ventures, also participated in the funding.
Stone announced a US$ 800 million follow-on as a partial exit to some shareholders after share prices raised more than 70% since the IPO.