Brazilian payments startup Tuna raises $3 million in two Seed rounds

Lead by former Peixe Urbano executives, Tuna aims to optimize digital payments in LatAm

Tuna Team
Tuna co-founders, from lef: Juan Pascual, Paul Ascher, and Alex Tabor. Photo: Fernando Freitas/Tuna/Courtesy
Ler em português
  • Founded by former Peixe Urbano executives, Tuna bets on the expansion of e-commerce in LatAm;
  • The startup’s solution helps merchants A/B test credit card processors and anti-fraud providers.

Tuna, a Brazilian startup that aims to make payments easier for merchants in Brazil and Latin America, raised $3 million from two Seed rounds, led by Canary and Atlantico. The company has come up with a solution to help e-commerces manage their payment providers.

Founded in 2019 by Alex Tabor, Paul Ascher, and Juan Pascual, Tuna bets on the expansion of digital payments in LatAm, driven by growing online purchases in the region. The trio was part of the engineering team of Peixe Urbano, a Brazilian version of Groupon.

READ ALSO: Tax reform can make the Brazilian innovation ecosystem take a step back

Tuna’s solution uses A/B test credit card processors and anti-fraud providers as a way to integrate payments processing. The Brazilian startup also helps merchants with data on performance, approval rates and, this way, choose better fees.

Among Tuna’s customers is Riachuelo, one of the biggest fashion chains in Brazil. Its platform also integrates with other e-commerce solutions, such as the ones provided by VTEX, Magento and WooCommerce.

“Each part of the payment structure charges a small fee for its task. Many companies, in turn, offer solutions for all tasks, but this is not always efficient. In some cases, we have already increased the net result of online payments by 10% with our optimization. Other companies can achieve similar results using the same methodology,” Tabor says.

READ ALSO: Sweden’s proptech Tmpl to launch a joint venture in Brazil with Webrock Ventures

The executives now look forward to expanding Tuna’s services. The company has plans to develop new services and moving to other countries in Latin America, such as Mexico, Argentina and Colombia.

“There’s a lot of money being left on the table and we want to help our customers put it in their pockets, earning some along the way,” Ascher explains.

Get the best insights about Latin America market in your inbox