October 2022 Deals & Investments

Oct 26

Cortex acquired Geofusion, a company that operates in the geomarketing segment.

The deal comes in the wake of Cortex R$260 million series C round, led by Lightrock with participation of SoftBank Latin America Fund and Riverwood Capital.

Oct 21

Trocafone, a startup specialized in the purchase and sale of used smartphones and tablets in Brazil and Latin America, acquired Grupo PLL, a company that provides after-sales service to insurance, retail and mobile operators, for R$125 million.

Oct 20^th and 21st

BayBrazil gathered over 200 tech leaders from various regions in Brazil & the U.S. for the 10^th edition of its annual conference, held at Stanford University and the historic SRI International.

Stay tuned for the recording, which will be available here in a few days.

Oct 20

Traive, a fintech that connects the capital market with agricultural credit, raised US$10 million in a round led by Basf Venture Capital, the VC investment arm of the pesticide multinational. The startup had already raised US$ 17 million in Series A, in 2021, in which Syngenta, Minerva, Serasa, Astella, SP Ventures and Tiger Global participated.

Oct 19

Raízen, a Brazilian sugar and ethanol company, acquired fintech Payly from Grupo Cosan, for around R$ 80 million. With the purchase, the company now has its own financial services unit, able to sell insurance and credit cards. Operations should start with the potential to reach an ecosystem of around 8,000 service stations, 5,000 B2B customers, 50 million end customers, in addition to 17,000 customers in the electricity segment and 1,500 stores and proximity and convenience.

Oct 26

Vixtra, a foreign trade fintech focused on the importer, received an investment of R$ 16 million in a pre-Series A round led by Valor Capital with the participation of Fontes II, a QED Investors fund dedicated to seed investments in Latin America. The investment comes after a pre-seed round raised by Vixtra in 2021, when it raised another R$35 million between equity and debt, with angel investors.

Oct 25

Shoulder, a women’s fashion brand, announced an investment of R$ 18 million in Oriba, a sustainable men’s clothing brand that uses organic and recycled materials in its collections.

Oct 24

LivUp, the frozen food sales startup, is raising a R$ 26 million second extension of its Series D round, after raising R$ 180 million in the first tranche and another R$ 50 million in the first extension. The new extension is being carried out by the corporate venture capital of Minerva Foods.

Oct 7

Arco Educação bought 75.1% of isaac in a transaction that values the school cash flow management startup at around US$ 150 million.

Oct 6

“It’s a fund that is powered by the community”. Brazilians Pedro Dias and Pedro Sorrentino, co-founders of Atman Capital, explain their unique approach to the cross-border VC firm.

Oct 3

Tembici, a Brazilian bicycle rental startup, begins another stage of its international expansion. After Chile and Argentina, the company has just debuted its shared bike project in Bogotá, capital of Colombia. With an investment of over R$53 million and sponsorship from Itaú, Mastercard and Vant, the system will have 3,300 bicycles, 1,500 of which are electric, and 300 stations.

Oct 3 

Openbox, a  green fintech credit for SMEs, received R$ 20 million from SRM Ventures. It is estimated that with this partnership the fintech will have an increase in its operations by more than 300%, still in 2022, and starting to operate in all states of the country.