SAO PAULO, April 11 (Reuters) – Brazilian financial
solutions platform Stark Bank said on Monday it has received a
$45 million investment led by funds such as Ribbit Capital,
Lachy Groom and Bezos Expeditions, led by Amazon.com Inc
founder Jeff Bezos.
The announcement comes about four months after the fintech,
created in 2018, raised $13 million from venture capital
investors in an initial round, at a time when investments in
Brazilian startups are waning as their dispute with large banks
grows.
Founders of Airbnb, Kavak and executives from DST,
Visa and Coinbase also took part in the
investment round.
The company did not disclose its valuation after the round,
but its founder, Rafael Stark, said the transaction puts it
“close to unicorn status,” referring to startups valued at over
$1 billion.
The firm said it has more than 300 customers, both medium
and large-sized, most of which are also technology-based
businesses, including Quinto Andar, Loft, Buser and Bitso, in
addition to Colgate.
According to Stark, the amount raised will allow the fintech
to increase its products portfolio.
($1 = 4.7079 reais)
(Reporting by Aluisio Alves, Writing by Carolina Pulice;
Editing by David Gregorio)
This news is republished from another source. You can check the original article here
Be the first to comment