Here are the highlights on Brazil’s tech and business scene in April:
Some new Brazilian names have joined the global superrich, and their ascent to fortune amid bleak times is a tale of a nation in transition. New faces at the top are part of an emerging economy built on digital technology and fueled by customers from the neglected classes.
Singapore’s sovereign wealth fund GIC is leading a R$ 300 million funding round in Brazilian financial startup Warren. Existing investors such as Ribbit, Kaszek and Quartz also participated in this new round. In total, Warren has raised R$ 445 million in three funding rounds.
Brex, San Francisco based startup founded by Brazilians, announced that it has raised a US$ 425 million Series D investment round led by Tiger Global. The round values Brex at over US$ 7.4 billion. It includes participation from new investors TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management and Base10, with participation from all existing major investors.
Some weeks after raised a US$ 425 million Series D funding led by New York-based D1 Capital Partners, Loft has announced an extension to the Series D with the closing of US$ 100 million in additional funding that values the company at US$ 2.9 billion. Baillie Gifford led the Series D-2 round, which also included participation from Tarsadia Capital, Flight Deck, Caffeinated and others.
Hash payment infrastructure fintech company has just received a US$ 15 million investment led by QED Investors. The Canary and Kaszek funds, which have invested in the company, followed the round.
Petlove, the largest digital ecosystem for pet owners in Brazil, and Health for Pet, a branch of the Porto Seguro business group and leader in the animal health insurance segment, announced the conclusion of an agreement that will combine their operations within the Brazilian market. After this transaction, Porto Seguro will hold a 13.5% interest in Petlove.
Kaszek led the R$ 16 million round in Zapt, a Brazilian discount offer social commerce platform. The round also included the participation of General Catalyst, the American venture capital fund. Other investors include Y Combinator and angel investors.
XP Investimentos closed a new fundraising of US$ 1.2 billion for 10,000 investors, forming a new venture capital fund, focused on investments in startups and over-the-counter companies in Brazil.
Brazilian e-commerce marketplace integrator Olist raised US$23 million. The round led by Goldman Sachs Asset Management brings the startup Series D total to US$ 80 million. Existing backer Redpoint eventures, which first put money in Olist in 2015, also participated in the latest round.
Magazine Luiza announced the acquisition of Jovem Nerd, the largest multimedia platform aimed at the nerdy and geeky public in the country. The values of the transaction were not informed.
Brazilian healthtech Beep Saúde raises R$ 110 million Series B. The startup offers in-home care, including vaccination and lab exams to clients in Brazil’s most populous states. The round was led by Valor Capital Group, joined by Endeavour Catalyst.
Ribbit Capital leads US$ 26.7 million round in a series A for Brazilian fintech Cora, technology-enabled lender to small and-medium-sized businesses. Kaszek Ventures, QED Investors and Greenoaks Capital also participated in the financing