Brazilian fintech Kanastra raised a $20M Series A led by Kaszek, with participation from Valor Capital Group, QED Investors, Quona Capital, and Atlantico. The funding comes a year after their $13M Seed round in June 2023.
Kanastra will use the funds to further develop its technology, and to double down on its M&A strategy after acquiring fund administration solution Limine DTVM earlier this year.
Kanastra is a tech-enabled capital markets infrastructure provider, serving funds and securitizations with back-office services, banking, and credit operation software.
“We could start generating cash, but to do that we would have to significantly slow down growth. The other option was to raise more money and keep growing. We chose the second path because we believe we are at a key moment in the industry to build the winning solution, and because we still see a high rate of return in organic growth,” said Gustavo Mapeli, founder and CEO of Kanastra.
Founded in January 2022, Kanastra surpassed $1.3B in assets under custody in 2023.
Read more on Brazil Journal.
