Jan 29
Moove, a mobility fintech company backed by Uber, has acquired Brazil’s Kovi, a vehicle subscription startup, in a deal that increases Moove’s annual recurring revenue to $275 million.
The strategy aims to expand the company’s presence in Latin America, enhance its fleet management capabilities and strengthen Moove’s position in the mobility fintech sector.
Jan 29
Turbi, a vehicle rental startup, secured a total of R$322 million in funding. This amount comprises a R$72 million Series D equity round from existing investors and R$250 million through debenture issuances—the largest in the company’s history. The capital infusion is intended to double Turbi’s fleet and expand its operations, following the company’s achievement of breakeven in the last quarter of 2024.
Jan 28
Itaú Unibanco has made a minority investment in NeoSpace, a startup developing foundational generative AI models aimed at enhancing customer experience.
Leading an $18 million funding round, Itaú contributed $15 million, with the remaining $3 million coming from angel investors Martín Escobari (General Atlantic), Micky Malka (Ribbit Capital), Nigel Morris (QED), and Hans Morris (NYCA Partners).
This investment was made directly from the bank’s balance sheet, not through its investment arm, Kinea Investimentos.
NeoSpace aims to revolutionize customer relationship management by creating AI models that anticipate and meet customer needs more proactively
Jan 22
The investment will be utilized to expand commercial operations, develop new products, and initiate international expansion.
Jan 22
Company Hero, a São Paulo-based startup, acquired Duca Saúde and Segure.Me, thereby incorporating health plans and insurance into its portfolio.
These strategic acquisitions aim to provide a comprehensive suite of services to support the growing needs of professionals operating as legal entities in Brazil.
Jan 21
The financial terms of the deal were not disclosed. This acquisition allows both companies to diversify their services and revenue streams while maintaining independent operations. The transaction also facilitated the exit of Nexpon, the investment arm of NSC Comunicação, which had been an investor in BuscaÔnibus since 2021.
Jan 20
In January 2025, Sem Parar acquired Gringo, a superapp offering services to drivers.
While the exact transaction value remains undisclosed, VEF, a Swedish investment fund and 9.3% stakeholder in Gringo, announced it will receive $15.2 million from the sale, matching its total investment in the company over the past two years. This suggests an approximate valuation of Gringo at $163 million.
The acquisition aligns with Sem Parar’s strategy to expand its mobility ecosystem beyond toll payment services.
Jan 10
The commerce platform VTEX announced the acquisition of Newtail, a Brazilian retail media company serving over 400 clients, including prominent retailers like Casas Bahia, Panvel, KaBuM!, and Leroy Merlin.
The financial terms of the deal were not disclosed. This acquisition aims to enhance VTEX’s retail media capabilities by integrating Newtail into its existing Ad Network, thereby expanding its advertising solutions across all markets where VTEX operates, including the United States and Europe.
Jan 7
BTG Pactual announced the acquisition of Julius Baer Brasil, the Brazilian wealth management unit of the Swiss bank Julius Baer, for R$615 million.
As of November 2024, Julius Baer Brasil managed assets totaling R$61 billion. This strategic move significantly enhances BTG Pactual’s presence in Brazil’s wealth management sector, increasing its assets under management to over R$100 billion. The transaction is expected to close in the first quarter of 2025, pending regulatory approvals.
Jan 3
In January 2025, Rhino, a São Paulo-based startup offering armored car transportation services, secured an additional R$10 million through a ‘media for equity’ deal with 4Equity Media Ventures. This agreement provides Rhino with media exposure and marketing services in exchange for equity.
The round follows a previous R$19 million seed investment in November 2024, which was allocated directly to the company’s capital. The new partnership aims to accelerate Rhino’s growth and expand its service area.
News gathering by Thais Chertman
