Notable Tech Firms Hailing from Brazil You Should Be Aware Of
Brazil's tech sector is experiencing a significant surge, contributing to a diverse and sprawling startup ecosystem. This boom is particularly evident in the financial technology (fintech) sector, where companies like QI Tech, Juvo, Nubank, Stone, and PagSeguro are expanding their footprint.
QI Tech, a fintech company specialising in APIs to increase access to banking services, recently raised $63 million in Series B funding to develop financial infrastructure and expand embedded finance services. Juvo, on the other hand, secured $36.6 million to grow its AI-powered microcredit platform targeting underserved credit markets.
One of the standout success stories in this space is Nubank, a digital bank founded in Brazil. With over 110 million customers across Latin America, Nubank has surpassed traditional banks in market value. The company, which offers personal accounts, credit cards, loans, and life insurance, is now a major player in the region. Other fintechs such as Stone and PagSeguro are also expanding aggressively.
In the food delivery sector, iFood, a mobile food ordering and delivery platform, has announced a $3.1 billion investment plan for 2022-2026. The plan focuses on boosting platform use, technological innovation, and client credit offerings in Brazil.
These companies are backed by robust venture capital flows and are driving Brazil’s leadership in fintech innovation and digital consumer services.
In addition to fintech and food delivery, other tech companies are making their mark in Brazil. ZS, a management consulting and technology firm with an office in São Paulo, focuses on data analytics and global healthcare industry solutions. Dynatrace offers software development solutions, consolidating intelligent automation, continuous runtime application security, and observability. MongoDB is a NoSQL database platform, known for its multi-cloud database deployment and non-relational structure.
Wise, an international payment company, allows users to send money with real exchange rates and no fees. Adyen offers a wide range of business solutions and functions, including managing risks, optimizing revenue, preventing fraud, and accepting online, in-person, and app payments. Duda offers a web design platform with e-commerce functionality, account management elements, and drag-and-drop tools.
Luby, a bespoke software development company, works with clients in the United States and Europe. Work & Co collaborates with clients on building digital experiences that bolster their overall business and brand strategies. Magnite helps media companies manage and grow their advertising revenue through data-driven tools and automations.
Brazil is home to several thousand highly adaptable and multilingual tech professionals, making it an attractive destination for tech companies. Ascenty provides data infrastructure and cloud services throughout Latin America, while Datadog offers cloud monitoring and security solutions for organisations across various industries. UL Solutions offers comprehensive services and software solutions to help businesses prioritise security and sustainability.
Integral Ad Science specializes in verification and optimization solutions for advertising across various channels. Neon is a banking fintech company with over 30 million customers, most known for its consumer offerings.
Mondelēz International, a global consumer goods company, uses machine learning and artificial intelligence in its research, development, and manufacturing processes.
The tech boom in Brazil shows no signs of slowing down, with these companies and many more continuing to innovate and expand.
[1] VentureBeat, "QI Tech raises $63 million for embedded finance services in Brazil," 2021. [2] TechCrunch, "Nubank surpasses traditional banks in market value," 2021. [3] iFood, "iFood announces $3.1 billion investment plan," 2021. [4] Reuters, "Brazil fintechs Stone and PagSeguro expand aggressively," 2021.
- The fintech company QI Tech, known for its work in APIs and embedded finance services, raised $63 million in Series B funding to develop financial infrastructure.
- Juvo, another fintech company, secured $36.6 million to grow its AI-powered microcredit platform targeting underserved credit markets.
- In the business sector, ZS, a management consulting and technology firm, focuses on data analytics and global healthcare industry solutions.
- Adyen offers a wide range of business solutions, including managing risks, optimizing revenue, preventing fraud, and accepting online, in-person, and app payments.
