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Brazilian fintechs raise more than BRL 500 million in February, says Sling Hub

The volume of funds raised by fintechs in February was four-fold greater than the amount raised in February 2020

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Seven rounds and BRL 521.6 million raised – this was the balance achieved by Brazilian fintechs, according to the Sling Hub intelligence platform data.

The volume of funds raised by fintechs in February was four-fold greater than the amount raised in February 2020, of BRL 126.5 million. Since the beginning of 2021, Brazilian fintechs have raised BRL 2.8 billion – January was an exceptional month, with BRL 2.3 billion raised.

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Considering the entire startup ecosystem, BRL 1.71 billion was raised in February. That is, fintechs snapped up 15.2% and tied with edtechs, lagging behind healthtechs, which accounted for 17.4% of rounds in the month.

Image: Sling Hub report/Screenshot

In February, RecargaPay, mobile payments and digital financial services startup in Brazil, performed best by raising BRL 385 million in its Serie C led by IDC Ventures and Fuel Venture Capital, followed by ATW funds, LUN Partners, and Experian’s corporate venture.

The Sling Hub report also provides information on the merger and acquisition operations that shook the market in February. A highlight for the acquisition of Credisfera and Dooca Commerce, by Locaweb, which operates web services. And also for the triple acquisition made by Modalmais, which bought Eleven Financial Research, Proseek, and Ela Vence.

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