Here are the highlights on Brazil’s tech and business scene in February:
Feb 28:
Delivery startup Loggi raises $205 million. The company’s largest round to date was led by CapSur Capital and included renowned Brazilian hedge fund manager Luis Stuhlberger’s Verde Asset Management among the backers for the first time, the firm said.
Feb 24
Fintech Trademaster, specialized in B2B financial and credit solutions, will receive R$ 100 million from BV bank, in addition to an initial funding structure of R$ 500 million to support the growth of operations in 2021.
Feb 24
Alpha Capital announced it has closed its initial public offering of US$ 230 million on the Nasdaq Capital Market (“Nasdaq”). The special “Special Purpose Acquisition Company – SPAC” will use the funds to seek a merger with a technology company focused on Latin America. Alpha’s co-sponsors include Innova Capital, FJ Labs and Dr. Irwin Jacobs.
Feb 22
BayBrazil has announced its first Social Impact Program for startups. Together with our partners we’ll select and mentor three Brazilian social startups developing products/solutions to help reduce inequalities in three sectors: Education, Health, Diversity. Applications are now open!
Feb 18
Softbank Group led a R$ 450 million investment in Brazilian test-prep startup Descomplica, online learning services startup. Along with Softbank, investors in the round include Invus Group, the Chan Zuckerberg initiative and U2 guitarist The Edge.
Feb 11
Brazilian healthtech Alice raises US$33M Series B round. Launched in 2020, the startup aims to grow its client base to 5K, and expand partnerships. The company offers competitive individual health care plans. Consultations can be done through its app and in its own headquarters in Sao Paulo.
Feb 10
Startup Cortex announces its first acquisition, the company acquired the operation of the Brazilian ITB360, which specializes in collecting data about other companies. The value of the transaction was not disclosed. It happens one year after receiving a R$170 million in round led by SoftBank and Riverwood Capital.
Feb 9
Grão Direto, a digital platform for agricultural commodities trade, raised R$13,5 million, the largest investment in a platform of this kind ever in Latin America. The round was led by Lanx Capital, Barn Investimentos and the investment arm of Grupo Rendimento.
Feb 8
Igah Ventures reached a US$130 million final close for its third fund to invest in a total of 17 early stage companies in Brazil. Igah Ventures’s Limited Partners include SoftBank Group, Rodrigo Xavier (Bank of America), and Gilberto Sayao (Vinci Partners).
Feb 4
Monkey, a financial marketplace for receivables in Latin America, has raised US$6 million in Series A funding co-led by Quona Capital and Kinea Ventures. Monkey has developed what it describes as Supply Chain Finance (SCF) programs for small and medium enterprises.
Feb 3
Rocket.Chat, a startup and open-source-based platform of the same name used by banks, the U.S. Navy raised US$19 million. The Series A round of funding was led by Valor Capital Group, with Greycroft, Monashees and NEA giving strong backing and e.ventures, Graphene Ventures, ONEVC and DGF also participating. The Porto Alegre, Brazil-based startup has now raised $27 million to date.
