CEOS of Brazilian corporations show “moderated optimism” for 2024.
Gathered in São Paulo for the Valor 1000 awards, executives represented the largest companies in the country with combined net revenue of R$7.4 trillion.
Early-stage venture capital fund Atlantico released its 2023 LatAm Digital Transformation Report.
It brings the major trends that are transforming the region: “Latin America – the Engine of the World; Digital Democratization; Renewal of the Entrepreneurial Spirit; Money goes Digital; AI: The Greater Equalizer”.
Praso, a Recife-based company providing a distribution platform for small retailers, secured US$9.3 million in Series A funding co-led by Valor Capital Group and NFX, and joined by existing investor Base Partners, Formus Capital, Iporanga Ventures and Endeavor Scale-Up. It also announced the acquisition of the intellectual property of Floki, a company using artificial intelligence to automate the purchases of small bars and restaurants.
BayBrazil announced the first batch of speakers to be featured in the 11th edition of its annual conference on Oct 27th.
Pre-registration is open at https://www.baybrazilconference.org/#speakers
Principia, a fintech of credit solutions for educational institutions, raised a R$ 200 million Series A investment and announced the acquisition of Provi, a checkout and credit platform for professional courses.
Gympass, a leading wellness platform, raised $85 million in Series F funding at $2.4 Billion Valuation in a round led by EQT Growth, with participation from Neuberger Berman.
BTG announced acquisition of Magnetis, a digital asset manager that uses virtual consultants to define investment strategies, value was not disclosed. Acquisition is still subject to necessary regulatory approvals, including from the Central Bank.
Fintech Nomad lands Series-B round of $61 million (about BRL 300 million) led by investment fund Tiger Group with participation of Monashees, Spark Capital, Stripes and Global Venture. It is the largest fintech equity finance deal of the year in Latin America.
GeekHunter, Florianópolis-based startup specialized in recruiting technology professionals, was acquired by Howdy.com, an American talent management company in the same sector. The Brazilian platform, founded in 2015, will act as a subsidiary of Howdy.com.
Munai, startup that mixes features of healthtech and deeptech, was selected for the acceleration program of the Bill & Melinda Gates Foundation. It will receive an investment of US$ 85,000 to develop and validate the application, a virtual assistant that will automate hospital protocols, functioning as a support tool for clinical decision-making, helping physicians and prescribers in the rational use of antibiotics.
Industrial management startup Tractian raised US$45 million in an investment round led by venture capital firm General Catalyst, valuing the startup at US$205 million. The round was also joined by Monashees, Next47 and individual investors.
Serasa Experian buys majority stake in fintech Mova, Brazilian fintech that offers credit as a service focused on SMEs.
Headline fund, a partnership between XP Asset and Headline Global, announced an investment of R$17.5 million in the health startup Fiibo. Founded in 2022, the healthtech unifies all information related to health benefits, well-being and food safety in a single business. The investment also count on the participation of VOX Capital, responsible for managing the corporate venture capital fund (CVC) Arava, from Einstein.
News gathering by Thais Chertman