Klavi attracts new investors in Brazil

Wednesday 23 November 2022 14:30 CET | News

Brazil-based SaaS platform for data aggregation, analytics and API services focused on Open Finance Klavi has attracted new investors for its USD 15 million Series A round, according to Finsiders



In August 2022, Klavi informed that the Series A round allowed an additional ‘closing’ and other ‘engaged investors’ already expressed interest to join. As reported by Finsiders, Klavi is now bringing BV Bank and RX Ventures , a Corporate Venture Capital (CVC) fund launched in 2022 by Renner, to the table. The ‘second closing’ list also includes the arm of a strategic investor, said sources familiar with the matter, as reported by Finsiders.

The latest batch of investors join a group that already has names like CIP, Vivo (through Vivo Ventures ), GSR Ventures, Iporanga Ventures, and Parallax Ventures. Klavi's reported goal is to become a leader in Open Finance solutions in Brazil, attracting companies such as banks, fintechs, and even companies from other sectors that offer financial services.

Klavi announced in the Series A press release from August 2022 that it has more than 30 customers and expects to grow this base to more than 100 by the end of 2022, reaching more than 500 by the end of 2023. Among its customers, Finsiders mention names like BV Bank itself and Serasa and fintechs like Gorila , SuperSim, Zippi Portocred, among others.

Klavi’s solutions feature data processing and intelligence technology, capable of connecting to financial institutions to capture, read and process financial data from individuals’ and companies’ accounts. So far, the fintech has reportedly processed more than 450 million transactions and has more than 4 million connections. It currently captures data from 35 sources, including the biggest retail banks, digital banks like Nubank, Inter, Original, and Agi, and brokerages like XP and NuInvest, among others, Finsiders reports.

In an interview with Finsiders, the company’s founder also said that Klavi is awaiting authorisation from the Central Bank (BC) to operate as an initiator of payment transactions (ITP), a license that two of its main competitors — Belvo and Quanto — already have. Prior to the Series A funding, in 2021, Klavi had made a seed round of BRL 6.5 million, in a fundraising led by Iporanga Ventures and accompanied by Parallax Ventures.

Live on the market since the beginning of 2020, Klavi was born from CrediGO, a financial management application created in 2019. The fintech pivoted its business model to B2B and, in April 2022, it launched the Klavi brand, Finsiders conclude.

Klavi has been included in the Global Mapping and Infographic of Players in the Open Banking and Open Finance Ecosystem 2022-2023. To find out more, we encourage you to download our latest report.

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Keywords: Open Banking, investment, fintech, SaaS
Categories: Banking & Fintech
Companies: Klavi
Countries: Brazil
This article is part of category

Banking & Fintech


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