Vixtra, a trade finance fintech based in Brazil, raised $3 million in a pre-Series A round led by Valor Capital, with participation of Fontes. Valor Capital is a VC fund founded by Clifford Sobel (who has already invested in unicorns such as Gympass, Olist, CloudWalk and Merama), while Fontes is a QED Investor’s fund dedicated to seed stage investments in LatAm.
Vixtra is a foreign trade fintech that works as a payment method between importers and exporters, allowing international suppliers to offer extended payment terms and importers to pay their purchases over time. The platform allows importers to release working capital, get confidence and data related to its suppliers, in addition to providing other financial services and visibility of the import processes.
The fresh funding will allow the fintech to accelerate the transaction volume in its payment and credit solution for international trade.
“Importers in Latin America have a very high working capital requirement, as they cannot get payment terms with their international suppliers. They also need a variety of services to make an international purchase. We have transformed the reality of many businesses by offering a complete platform of international trade services and specialized credit for international trade, in a less bureaucratic way”,explains Leonardo Baltieri, co-founder of Vixtra.
Founded by Leonardo Baltieri, Guilherme Rosenthal and Caio Gelfi in July 2021, Vixtra works as a payment method mainly in the tire, chemical, metal and electronics segments — primarily coming from Asia.
According to Baltieri, the company expects to increase the volume of transactions by 20 times by the first half of 2023 and expand to new markets, keeping very low delinquency levels.
This investment comes after a seed investment of $10 million in equity and debt, one of the highest amounts for an early-stage startup in Latin America.