Brazilian fintech Divibank raises $3.6M for SMEs financing services

LatamListDivibank, a Brazilian financing platform, raised a $3.6M funding round led by Better Tomorrow Ventures. MAYA Capital, Magma Partners, Village Global, ClockTower Ventures, Gilgamesh VenturesRally Cap Ventures, and Alumni Ventures Group also participated in the round, as well as multiple angel investors.

Divibank is a data-driven financing platform aimed at giving businesses access to growth capital. The startup is particularly focused on e-commerce and SaaS companies, although also counts edtechs, fintechs and marketplaces among its customers.

“We are changing the way entrepreneurs scale their online businesses by providing quick and affordable capital to startups and SMEs in Latin America,” said Jaime Toboada, co-founder and CEO of Divibank.

The platform recently launched a new marketing analytics software to help clients better manage their digital ads and attract customers. In the past six months the company has signed 50 new clients and seen a 5x increase in revenue.  

The new funding will enable Divibank to accelerate growth and increase hiring, specifically in sales, marketing, engineering and tech, credit risk, and operations. 

Read more on TechCrunch.

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