Funded Financial Services Startups in Brazil
Across these 50 recently dated financial services rounds, one disclosed outlier stands above the rest: BDMG raised $220M on 2024-12-10, while the next-high…
Across these 50 recently dated financial services rounds, one disclosed outlier stands above the rest: BDMG raised $220M on 2024-12-10, while the next-highest disclosed amounts are $61M (Nomad, 2023-08-22) and $41M (Conta Simples, 2024-01-09). Most disclosed rounds cluster in the low-to-mid single digits and tens of millions, with several entries at $30M (Kanastra on 2025-10-03, Azos on 2025-02-19) and $27M (Capim on 2025-02-26), but few in the same range as $220M.
The geography is heavily concentrated in São Paulo (overwhelmingly listed as “São Paulo, Sao Paulo, Brazil”), with a smaller set of cities elsewhere such as Barueri (CredAluga, 2025-10-03, $11M), Rio de Janeiro (Malga, 2025-02-25, $6M), Belo Horizonte (BDMG, 2024-12-10, $220M; Prosas, 2023-12-08, $810K), and Recife (Bloxs, 2024-05-09, undisclosed). Temporally, the window runs from 2023-05-02 (Calcme, undisclosed) through 2025-10-03 (CredAluga and Kanastra), and multiple “Series Unknown” classifications plus “undisclosed” amounts show up repeatedly: 14 rows are either “Series Unknown” or “undisclosed” (11 “Series Unknown” and 5 “undisclosed”, with one overlap).
Most recent rounds
50 shownRelated listings
Frequently asked
Which disclosed round is the clear outlier, and how does it change the scale of this list?
BDMG’s $220M round on 2024-12-10 dwarfs the rest of the disclosed amounts. The next-largest disclosed entries are $61M (Nomad, 2023-08-22) and $41M (Conta Simples, 2024-01-09), keeping nearly all other disclosed rounds well below those levels.
Do the most recent financings cluster in a tight date range?
Several of the latest dates are concentrated in Q3–Q4 2025: CredAluga ($11M, 2025-10-03), Kanastra ($30M, 2025-10-03), Kamino ($10M, 2025-09-13), and ASAAS ($6M, 2025-09-12). Earlier in the list, additional concentrations appear around September 2024 (e.g., Oxpay $4M on 2024-11-06 is outside, but Base39 $1M and others are dated 2024-09-13).
Is São Paulo over-represented compared to other Brazilian cities in this sample?
São Paulo dominates the city field, with many entries explicitly listed as “São Paulo, Sao Paulo, Brazil,” including Kamino (2025-09-13, $10M), Divibank (2025-04-02, $8M), and Conta Simples (2024-01-09, $41M). Outside São Paulo state capital listings, notable non-São Paulo cities include Rio de Janeiro (Malga, 2025-02-25, $6M), Belo Horizonte (BDMG, 2024-12-10, $220M; Prosas, 2023-12-08, $810K), and Recife (Bloxs, 2024-05-09, undisclosed).
How often are stage labels unclear, and what does that imply for diligence work?
Stage clarity is limited: “Series Unknown” appears 11 times and “undisclosed” appears 5 times in the dataset, with one overlap between those categories. Examples include ASAAS on 2025-09-12 listed as “Venture - Series Unknown” with $6M, and Avra on 2024-09-13 labeled “Series Unknown” with an undisclosed amount.
What stage mix stands out among disclosed rounds versus the full sample?
Disclosed “Seed” and “Series A” rounds are common in recent dates, such as Nexa Finance (Seed, 2025-07-17, $5M) and CredAluga (Series A, 2025-10-03, $11M), while “Series B” includes larger disclosed checks like Kanastra ($30M, 2025-10-03) and Azos ($30M, 2025-02-19). Still, the presence of “Series Unknown” entries like Lara (2025-05-08, $4M) complicates any strict mapping from stage to dollar size.
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