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InstaCarro , a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. InstaCarro plans to use its new capital in part to capitalize on the shift and “aggressively” expand its reach within Brazil. Notably, U.S.-based
Zeely’s users are so far spread across the US, UK, and emerging markets such as Brazil and Mexico. Zeely’s team of 11 consists of Bondarenko and co-founders Dmytro Samoiliuk (CEO) and Yaroslav Samoiliuk (COO). It’s a great product and already has very convincing traction.” It’s a great product and already has very convincing traction.”
Childhood friends David Grandes and Andres Andrade, both originally from Ecuador, started Mimic in 2018 in Brazil as a dark kitchen-as-a-service, specializing in producing food at scale with online channel sales. The funding enables us to round out our product and our teams. We are also moving to be an embedded finance company.”.
These partners include the Norwegian Library of Talking Books and Braille (NLB), the Hoerbuecherei des OSBV Talking Book Library in Austria, and the Dorina Nowill Foundation in Brazil.? Our Bookshare team has also been working on a special project with Qatar’s Mada Assistive Technology Center to add Arabic-language books to the collection.
Digital banks have enormous potential in the region. Today, a newly launched one, Telda is announcing a $5 million pre-seed round to digitize how Egyptians save, send, and spend money. However, a fter his experience using N26 while visiting a friend in Berlin in 2015, his eyes opened to the possibilities of digital banking in Egypt.
He’d brought on two co-founders, assembled ambitious engineering and operations teams, raised $2 million in seed funding from Sequoia and Kaszek, rented a tiny office in São Paulo, and was armed with a mission to deliver the kind of banking services that customers in a market as large and lucrative as Brazil’s should expect.
Its more than 300 clients include 10 unicorns, two out of the three biggest banks in Brazil and companies such as iFood, Claro, Cielo, Loggi, Ebanx, QuintoAndar and OLX, among others. The more digitized companies become, the more client expectations grow — and market competition grows stronger,” Ando said. “Our Image Credits: idwall.
Brazil’s new fintech startup Cora raised $10 million on the strength of its founding team. Last year, Cora got its license approved from the Central Bank of Brazil, making it a 403 bank. With the checking account, customers have the ability to sending and receive money as well as pay bills digitally.
Nubank co-founder and CEO David Velez and Cedar co-founder and CEO Florian Otto (and former CEO of Groupon in Brazil) also joined in the round. million to bring healthcare benefits management services to Brazil. In the medium to long term, Mitchell said the team views Pipo as a local business rather than a global one.
Our theme this month is educational nonprofits like The Luciano Bareto Júnior Institute in Brazil. Back to School in Brazil. Now that TechSoup’s Local Impact Map has officially launched , let's discover one of great new organizations featured there. Education Is a Major Nonprofit Activity. Even in the U.S.,
But in Brazil, where no MLS exists, the challenge of digitizing real estate is even greater. This morning, digital real estate platform Loft announced it has closed on $425 million in Series D funding led by New York-based D1 Capital Partners. Latin America’s digital transformation is making up for lost time.
Brazil is a country riven with economic contradictions. Financial transactions that would take days to process in the United States through ACH happen instantaneously in Brazil. According to an HBS case study , “in December 2018 the interest rate in Brazil for corporate loans was 52.3%, for consumer loans it was 120.0%
The feature is powered by Novi, Meta’s digital wallet that launched as a pilot six weeks ago , with payments made using Pax Dollars (USDP) , a stablecoin pegged to the US dollar issued by Paxos. There's a new way to try the @Novi digital wallet. This would integrate with a Facebook-developed digital wallet called Calibra.
OlaClick, a young startup that is helping these restaurants sell online and collect money digitally, announced on Thursday it has received backing from scores of investors, including Gradient, Meta and Delivery Hero. “In Brazil, Instagram is very popular, too, so many restaurants are using Instagram as a channel with us,” he said.
But in markets like Brazil, the idea is still considered relatively novel. We spent two months studying possible paths, talking to people and investors in the United States, Brazil and Mexico, until we came up with the idea of creating an insurance company that can modernize the sector, starting with auto insurance.”. Here in the U.S.
He was previously the founder of Canary and Peixe Urbano, and was Facebook’s first employee in Brazil. Latin America’s second wave of digital transformation. Latin America’s digital transformation is making up for lost time. Distinctively, Latin America has not suffered through this hangover from digital adoption.
The round was co-led by Brazil-based Echo Capital and Oria Capital , with participation from TPG Capital , Argonautic Ventures , and others. Talking to TechCrunch, Balbinot explained that the startup plans to use the proceeds to boost the digitization arm of its business, for which it sees a strong need across Latin America.
It has backed companies across the region including in Brazil, Mexico, Chile, Colombia, Argentina and Ecuador. Managing Partners Shu Nyatta and Paulo Passoni run the region’s investment team. Operating Partner Alex Szapiro, also head of Brazil for SoftBank, leads the fund’s operations team.
This caught the attention of second-time entrepreneurs Bruno Ballardie and Fernando Zanatta, who started ZAX in 2019 to develop a platform that unites freight, delivery and payments tools to connect sellers and buyers in Brazil. ZAX’s addressable market for B2B transactions, just in Brazil, is estimated to be BRL 2.4 trillion, or $445.6
IDC Ventures, Digital Bridge and IDB Invest co-led the round, which also included participation from MGM Innova Group, Celtic House Venture Partners, Palm Drive Capital and previous shareholders. It currently operates in more than 25 cities in Colombia, Mexico and Brazil and has over 600,000 users. Image Credits: Merqueo.
For now, Divibank is focused on Brazil, considering the country is huge and has more than 11 million SMEs “with many growth opportunities to explore,” according to Taboada. As in many other sectors, the COVID-19 pandemic served as a tailwind to Divibank’s business, considering it accelerated the digitalization of everything globally.
Pipefy was originally headquartered in Brazil, and since much of the startup’s R&D is still located in the country, and it has a significant presence there, the company was still considered for the SoftBank Latin America Fund, officials say. Since it originated in Brazil, it already has strong brand visibility in the country.
With more people in Latin America getting used to making purchases digitally, the company has experienced a major surge in business over the past year. Nuvemshop has seen the number of merchants on its platform surge to nearly 80,000 across Brazil, Argentina and Mexico compared to 20,000 at the start of 2020. billion in 2023. “In
Rounding out the team are Nicolas Berman, former VP at MercadoLibre, Santiago Fossatti, Andy Young and Mariana Donangelo. Also, Connecticut-based Wesleyan University is an LP with Chief Investment Officer Anne Martin describing the founding team as “internet pioneers.”.
It is, in particular, good for agencies who want to deliver faster results or for non-technical departments that need to iterate faster but depend on centralized engineering teams to implement everything, according to Costa. With the COVID-19 pandemic, every business has had “to go somewhat digital.”.
Convertedin’s revenues from these businesses have been growing in “double-digits” month-over-month, Fergany said. The three-year-old Egypt-headquartered company also has offices in Saudi Arabia and Brazil; it just recently opened one in the latter. Fergany also said Convertedin is eyeing South Africa and India too. “We
The team surveyed over 177 startups and 33 investors across Africa, Latin America, and India. Latin America is home to a growing base of digital users, enabling regulation and reforms, and vibrant small businesses. The next two funded fintech categories are credit and digital banking. Let’s dive in. India is one.”
It does things like allow customers to launch products for cards and payments, digital banking, digital wallets and marketplaces. To this point, it has invested with no sales team and very little marketing effort, according to Josua. One year ago, the central bank [of Brazil] launched an instant payment solution.
The company has already expanded to Brazil. We offer tools where people can monitor their progress and have regular check-ins with our medical team.”. George and his team have the clarity of vision and the skill to make Manual a leader in this exciting and important area.”. Manual launched a month earlier than them). In the U.S.
At the time, Zubale was slightly different, looking to connect big corporations with workers to take on tasks, like market research to earn mobile phone credits or other kinds of digital rewards. So imagine what we have achieved, and now our execution is laser focused with Brazil and Chile, which have been very huge opportunities for us.”.
Put simply, Kushki aims to help make it easier, cheaper and more secure for businesses across LatAm to send and receive/process digital payments. The end goal is to help these businesses — such as digital banks — grow faster online and drive consumer adoption of digital payments. Europe, APAC and Brazil. billion. .
That’s a path that has already produced one multi-billion-dollar business in Nubank, Brazil’s wildly successful fintech company, which planted a flag for a new generation of Latin American startups. .” Sahagún said the money will be used to expand into lending and insurance products the range of services albo offers.
million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. Bfree is now on a massive recruitment drive for the 16 new markets in which it is setting up operations, including Ghana, India, Uganda, Brazil, Colombia, Mexico, Russia, Poland, Pakistan and Indonesia.
Merama , which acquires or launches Latin American digital brands, hit a $1.2 The investment follows a $225 million Series B investment , announced in September, that put the Mexico- and Brazil based-company at an $850 million valuation. At the time, the company touted it as “the largest Series B round ever raised in Latin America.”.
With products like FinanZero and Nubank – Latin America’s largest digital bank – Brazilians are starting to see more economic mobility and independence from the legacy institutions that dictated their lives for so long. The founder of Lendo was a childhood friend of mine,” said Widen, of his close ties to the Swedish fintech.
Volpe also received a “large anchor investment” from its management team. Andre Maciel, Gregory Reider and Milena Oliveira are the fund’s founding partners, and are based in Sao Paulo, Brazil. So far, it’s backed Uol Edtech, a subsidiary of Grupo Uol that aims to redefine the digital learning experience in Brazil. . “We
For decades, Brazil has had a huge credit problem. To give you an idea of just how bad it is, reports indicated that in 2019, credit card interest rates neared a staggering 300% in Brazil. The process is 100% digital, with no bureaucracy involved; it claims to be fast, and the rates are lower than those of traditional banks.
The National Supply Company (CONAB) from the Brazilian Ministry of Agriculture estimated corn production in Brazil at 102.6 As its startup market accelerates, Brazil could be in for an IPO bonanza. We are on the ideal timing and we have the perfect team to lead this movement in agribusiness.”.
P.S. Speaking of words, the Equity team had a heck of a good time this week , in case you wanted a chatty dive through recent startup happenings. Fintech and insurtech innovation in Brazil set to take off on regulatory tailwinds. Nubank’s present day headquarters in Sao Paulo, Brazil. The TechCrunch Top 3. Big Tech Inc.
The global growth of these digital currencies and their applications in emerging markets have savvy financial services investors like the firm QED Investors (founded by the masterminds behind Capital One) intrigued. A visual representation of digital cryptocurrencies, Bitcoin, Ripple, Ethernum, Dash, Monero and Litecoin.
The company, based in Bogotá, Colombia and currently sporting a team of 13, is working to bring digital transformation to the smallest of enterprises: namely single-operator small stores. By offering what is, for many users, their first digital tool, Trenita is helping many small companies stay afloat.
Merama partners with e-commerce product sellers in Latin America by purchasing a stake in the businesses and working with their teams to help them “exponentially” grow and boost their technology while providing them with nondilutive working capital. It is currently focused on Mexico, Brazil, Argentina and Chile.
Truora participated in Y Combinator’s Winter 2019 cohort and soon after expanded into digital identity and authentication technologies. The company has offices in Colombia, Mexico, Brazil, Chile, Peru and San Francisco. Eventually, it also wants to expand further in Brazil. That March, it raised $3.5
Brazil-based Kinea and G2D Investments also participated in this round. We are helping global enterprises on their digital journey, so they can grow and scale without economically prohibitive upfront costs while empowering their talent to focus on driving their business forward. Image Credits: Digibee.
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