SaaS-based data aggregation, analytics and API provider Klavi, which is based in Brazil, has scored $15m in its Series A funding round.
The capital injection was backed by GSR Ventures and Brazil-based Iporanga Ventures and Parallax Ventures. Commitments to the Series A also came from CIP SA and Vivo Ventures.
There is an additional 90 days to the financing, which could see more investors commit capital.
This capital will help Klavi bolster its position in the market by building new products.
Klavi is on a mission to be the leader in open finance. The company was founded in 2020 by Bruno Chan and Stone Zheng.
The company offers companies the tools to customise financial products and services based on relevant and accurate data. It claims to have helped process over 450 million transactions and made over four million connections with financial institutions, bureaus, FinTechs and startups.
It hopes to grow its base by over 100 assets by the end of 2022 and reach 500 by December 2023. Its current clients include BV, Telefônica, Mepoupe, CIP S.A., Gorila, Jeitto, Supersim, Simplic, Portocred and Zippi, among others.
Chan said, “With the maturation of Open Finance, we’re seeing a huge gap between the data received by companies, and their use thereof. With this investment, we will conquer more space and continue to grow, reinforcing our leadership as a solution provider for the industry.”
The FinTech company previously raised $1.25m in seed funding last year, with Iporanga Ventures and Parallax Ventures providing the capital.
Last month, Brazilian online credit marketplace FinanZero closed a $4m investment. The capital injection was backed by VEF, Dunross & Co, Atlant Fonder and Webrock Ventures among others.
Latin America has a strong FinTech sector, but the most-well funded company in the region is Brazil-based C6 Bank, which has raised a total of $2.3bn of funding.
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