unico becomes Brazil's newest unicorn

Thursday 14 April 2022 10:34 CET | News

unico, a Brazil-based startup that develops digital identity protection solutions, has announced a USD 346.3 million funding round led by General Atlantic and SoftBank.

Also participating in the round were Micky Malta, partner at Ribbit Capital, and Big Bets. With the investment, unico becomes the newest Brazilian unicorn, with a market value exceeding USD 1 billion.

The new investment comes less than a year after unico received another round of USD 123.6 million, also led by General Atlantic and SoftBank.

unico’s second round shows how the demand for biometrics solutions is growing rapidly in various sectors. unico, formerly known as Acesso Digital, has grown driven by companies that have also taken off in the online medium. Currently, the company has about 800 client companies, including Magazine Luiza, Pernambucanas, C6Bank, Banco Original, and B2W.

As part of its acquisition strategy, in 2020 unico bought Meerkat, and in 2021 it has already acquired the digital process management startup for car sales Vianuvem and CredDefense, specialised in biometrics for vehicle commerce.

unico is the fourth Brazilian company to join the unicorn club in 2021 – the others were Madeira Madeira, the first of the year; Hotmart, which is now preparing for an IPO, and Mercado Bitcoin, Brazil’s first crypto unicorn.

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Keywords: Unicorn, startup, digital identity, funding, biometrics
Categories: Fraud & Financial Crime
Companies: General Atlantic, SoftBank, unico
Countries: Brazil
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Fraud & Financial Crime

General Atlantic





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