Venture Funding In Brazil Soars To $1.3B In 2018
Brazil’s startup scene is on fire as according to LAVCA, the Association for Private Capital Investment in Latin America, venture funding in Brazil exploded in 2018 to $1.3 billion, representing nearly two-thirds of all venture money raised in Latin America as a whole last year. That’s 52 percent more than the $859 million invested in 2017, and a staggering 369 percent increase from the $279 million raised in 2016.
Some of 2018’s biggest deals included Brazilian fintech startup Nubank raising $150 million and then $180 million from DST Global, Tencent, and others. Also last year, Sao Paulo-based Movile raised a $500 million round of financing for iFood, led by Naspers, with participation from Innova Capital.
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