The series A round was led by venture capital funds Iporanga Ventures and Parallax Ventures and included GSR Ventures. The banking infrastructure provider CIP S.A. and Vivo Ventures also entered the round, marking their first investment in a fintech. The funding also allows for an additional closing within 90 days, and other already engaged investors will also enter.
Klavi plans to use the financial resources to strengthen its technology area, through opportunities for innovation in business-to-business (B2B) services and its data processing sector, in addition to facilitating the creation of new products. The fintech is also aggregating information from a number of sources with CIP S.A. and is already developing the first score with bank slip data.
The contribution will give Klavi a boost for developing more solutions, facilitating the sharing of financial data. The goal is for their partners to be able to have a 360º view of their customers' information, with everything centralised in one place, always with user consent, that can be shared with any company.
Klavi was founded in 2020 and is generating insights from Open Finance data in Brazil, offering solutions for any size of business. The company's target audience is financial and non-financial institutions that need a solution for information portability and processing, in addition to C-level, directors, product managers, credit, and innovation.
According to the official press release, Klavi expects to grow its base to more than 100 active clients by the end of 2022, and to reach more than 500 by December 2023.
Klavi is a SaaS platform that helps companies with Open Finance solutions, such as data aggregation, analytics, and more services via API. This makes it possible for the fintech to get to know its customers better and to be able to create more opportunities for innovation in products and services. Its clients include BV, Telefônica, Mepoupe, CIP S.A., Gorila, Jeitto, Supersim, Simplic, Portocred, Zippi, and others.
Over the last 12 months, Brazil has moved at a rapid pace as it continues to build its Open Banking and now Open Finance ecosystem. So far in 2022, Brazil’s National Monetary Council, together with the Central Bank of Brazil, issued a resolution that officially launched an Open Finance project in the country and Mercado Pago became a payment initiator in Brazil.
Moreover, in Brazil, the Open Finance project also covers what has been called Open Insurance and Open Investments. In other words, it’s not only about the customisation of banking services and products, but the possibility of offering innovative solutions in other important aspects of people’s financial lives.
Since the beginning of the implementation of Open Banking, which began in early 2021, the open circulation of information has allowed financial institutions to learn in a more precise and comprehensive way about the behaviour and context of each individual in order to offer products and services that are much more customised to their profile. Today, more than 3 million Brazilians have already shared their data seeking benefits.
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