Business

Brazil's investment fintech Gorila raises BRL 100 million

According to the fintech, part of the funds received will be applied in technology, product, employees, and business growth - and in acquisitions

Reuters

02.Dec.2021 09:58 BRT
UPDATED 11:22 BRT

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The fintech plans to buy minority stakes in investment firms;
The fintech’s goal is to double its portfolio of individual clients by 2022.

The Brazilian investment platform Gorila announced on Thursday that it has raised a round of more than BRL 100 million, including funds Ribbit, Apis Partners, Iporanga, monashees, and 2TM.

Created in 2016, the company has an app in which the user can enter their investments or through integration with B3 to check profitability and quotes of the applications, data that are updated automatically, even having applications in different banks and brokers.

In addition to serving clients directly, Gorila also offers several of its services to brokerages themselves and investment advisors.

According to the fintech, part of the funds received will be applied in technology, product, employees, and business growth – and acquisitions. The company also plans to buy minority shares of investment firms.

Gorila recently became a partner in consultancy Vita Investments, which advises clients with more than BRL1.5 billion in assets.

According to the president and founder of Gorila, Guilherme Assis, the fintech’s goal is to double the portfolio of individual clients in 2022, to about 1 million, and triple the number of offices, to 300.

(Translated by LABS)