Brazil’s Cerc closes funding ahead of IPO

Brazil-based Cerc has reportedly raised $100m in funding as it gears up for an IPO.

The company hopes to expand its team from 150 and will explore potential startup acquisitions, according to a report from the Paypers.

Cerc is aimed at factoring deals, offering an alternative to notaries. It offers data analytics, access tools and secure data storage to help remove uncertainties in the use of receivables and the offer of credit to companies by financial agents.

The company also offers a range of risk management tools, including corporate governance, normative structure and compliance, information security and more.

Brazil has a strong FinTech sector. Earlier this year, cryptocurrency exchange Foxbit scored $21m in its Series A funding round.

Another recent deal in the country’s sector was a $300m funding round by Neon, a digital bank.

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