Investing app Warren said to close $54.95m funding round

Investing platform Warren has reportedly raised $54.95m in a funding round from Singapore sovereign wealth fund GIC.

The investment was also supported by existing Warren backers Ribbit Capital, Kaszek and Quartz, according to a report from Reuters.

With this capital, the FinTech hopes to deepen its technology and make additional acquisitions.

Launched in 2017, the Brazilian company offers a mobile app to help consumers access various types of investments. Users can build and customise wallets and build a portfolio of more than a thousand products.

The app also empowers users to buy and sell shares without brokerage. Users can track real-time performance to help them with their buying and selling decisions.

The company previously raised $22.8m in its Series B round in 2020. The investment was supported by QED Investors, Kaszek Ventures, Chromo Invest, Ribbit, MELI Fund, WPA and Quartz.

Total investment volume in Latin America hit a new record in 2020, FinTech Global’s data shows. There was $2.8bn invested across 178 deals, compared to $2.7bn deployed through 171 transactions in 2019.

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