Here are the highlights on Brazil’s tech and business scene in June:
Startup success isn’t determined by how much you raise; it’s about how much equity you keep, which means controlling your own destiny. According Tom Foremski, the San Francisco-based startup Arena is a great example of bootstrapping. Arena is a cloud-based media technology startup that, recently, received US$2.3 million in a round led by Redpoint eventures.
BayBrazil presented two more events within the special 2020 conference edition. On June 18 we discussed U.S. & Brazil Innovation Economies with a group of global investors and, on June 25, The Future of Real Estate, featuring Loft, Haus, Kaszek Ventures and Grupo Zap. Check the recordings & upcoming events!
Brazilian healthtech Conexa Saúde raised R$40 million Series B investment with General Atlantic, e.Bricks Ventures, as well as angel investors Luiz Fraga and Guilherme Fraga. Conexa telemedicine platform works as a marketplace, that users can talk to a variety of healthcare providers.
BizCapital, the Brazilian lending startup for businesses, closed a Series B round for US$12 million courtesy of DEG. Another investor was MELI Fund, the corporate venture arm of Mercado Libre. Participants from previous rounds contributed to BizCapital‘s latest investment as well.
Remessa Online, the Brazilian money transfer service, closed on US$20 million in financing from Kaszek Ventures, and Accel Partners’ Kevin Efrusy.
Brazilian logistics startup Cargo X, which connects cargo to carriers, received an investment of R$ 15 million from Pattac Empreendimentos. Pattac is one of the largest infrastructure investors in Latin America and has been operating in the sector for over 70 years.
Pipo, a health plan management platform for companies, raised US$ 4.6 million in its first round of seed capital. Investors are monashees, KaszeK Ventures, and ONEVC.
In “Brazil Really Might Be That Bad, But for How Much Longer?” Kenneth Rapoza highlight that, despite all the bad side, investing in Brazil is as attractive as ever. Markets are looking for a momentum shift.
XP Inc. acquired a majority stake in fintech Fliper, an automated investment consolidation platform. The conclusion of the transaction is subject to prior authorization by the Central Bank and the acquisition price has not been revealed. The business is part of the company’s growth strategy and aims to accelerate the movement of open banking in Brazil.
Cortex, a Brazilian Growth Intelligence SaaS startup, raised a US$22M Series B led by SoftBank’s Latin America fund. Redpoint eventures and Endeavor Catalyst also participated in the round.
Brazilian bike-sharing company Tembici has raised US$47 million. The round was led by venture capital investors Valor Capital Group and Redpoint eventures, besides existing investor Joa Investimentos. International Finance Corp, the private investment arm of the World Bank, has also invested in Tembici.