April 26
QI Tech, a Brazilian fintech specialized in infrastructure for financial services, achieved unicorn status, reaching a market valuation above US$1 billion (R$5.1 billion) in its latest investment round. This milestone was reached after QI Tech received an additional contribution of US$50 million (R$256.3 million). This investment is an extension of the US$200 million (R$1 billion) series B made last year, with investors General Atlantic and Across Capital. QI becomes the first Brazilian unicorn in 2024.
April 18
Brazilian Banks estimate to invest R$47.4 billion in technology in 2024, according to Febraban. The first Banking Technology Survey 2024 shows that the amount invested doubled in eight years. Priorities are customer experience, technological innovations and customization of solutions.
The first volume of the research can be accessed at https://portal.febraban.org.br/pagina/3106/48/pt-br/pesquisa
April 16
The country’s sugarcane-based ethanol emerges as a promising contender for greener skies, highlighting the role of biofuels in reducing carbon emissions .
April 16
Investors are growing concerned as the Brazilian government seeks to relax its spending goals.
The real fell to its lowest against the dollar, trading at $5.27. The article discusses growing concerns about the use of leveraged loans in private equity deals, especially in the US. Regulators and investors worry about the heightened risk these loans pose to financial stability, urging increased oversight and transparency. Rising interest rates could exacerbate these risks, highlighting the need for careful monitoring of leveraged loan activities.
April 17
Vehicle rental company Turbi announces new fundraising worth R$45.5 million in equity, led by DOMO.VC and with participation from Reag Investimentos and Carbyne Investimentos.
Turbi promotes the use of its own shared cars among the community in a sustainable and affordable model. The round is the company’s second one this year. In January it raised R$150 million to acquire 1,625 new vehicles.
April 15
SRM Ventures invested R$40 million in EmpreX, a platform that uses open finance technology to offer financial services to the middle class. It intends to allocate a total of R$300 million this year to fintechs that operate in innovative segments.
April 14
Elon Musk x Brazil’s Supreme Court
The closely watched case raises questions on free speech, accountability, and the influence of social media on public discourse.
April 13
A SEBRAE project that is mapping impact startups in Brazil shows that most are creating products and solutions to address sustainability. These startups are classified based on their focus areas such as health, education, environment.
The initiative aims to provide insight into Brazil’s impact startup ecosystem, facilitating connections with investors and partners to foster growth and sustainability.
April 11
Spectra, which manages more than R$7 billion in alternative investments, reached an agreement with OutField Ventures, a manager focused on sports, to anchor its funds and become a minority partner in the firm. Spectra will invest R$50 million in OutField’s funds and gain an undisclosed stake in the manager’s equity.
April 9
DataStax, a North American company, acquired Logspace, a startup from Minas Gerais that specializes in assisting the development of AI-powered applications.
Investment will be in hiring people, infrastructure and research and AI development. The acquisition is accompanied by a significant investment of R$100 million in the Brazilian market by the acquiring company. This move signifies the growing interest and investment in Brazil’s technology sector, particularly in AI development. It also reflects the potential for collaboration between international companies and Brazilian startups to drive innovation and growth in the region.
April 5
InstaCarro raised R$55 million to sell used cars in installments.
The marketplace raised equity and debt round to strengthen the credit vertical with corporate partners. The round was led by American funds such as J Ventures, FJ Labs and Rise Capital, which were already investors in InstaCarro, and the British Fasanara Capital, a newcomer. To date, adding three other fundraisings, in 2015, 2017 and 2021, the platform has already raised the equivalent of R$250 million in equity.
April 4
The insurtech Akad raised US$22.5 million (around R$110 million), a valuation of US$120 million. The round was co-led by Valor Capital with Across, with participation from the Actyus, Endeavor Catalyst and Scale-Up Ventures funds. This is the first time that the startup has brought new investors since it was created, around two years ago, by GP Investimentos in partnership with Cyberlabs.
News gathering by Thais Chertman
