Brazilian fintech Magie raised a $5.1M seed round led by Lux Capital, marking the fund’s first investment in Brazil. Canary also participated in the round.
Magie will use the funds to acquire new clients, strengthen its security infrastructure, and implement new features like facial recognition.
“The partnership with Lux Capital was very natural. [Lux] recognized the opportunity in Brazil to use artificial intelligence in a sector full of inefficiencies and misalignment between clients and institutions, but with a favorable regulatory environment and heavy use of WhatsApp for distribution,” said Luiz Ramalho, Magie’s Co-Founder and CEO.
Magie allows customers to carry out financial transactions like payments and Pix transfers through text and voice message commands on WhatsApp.
After its launch in 2024, Magie acquired over 12,000 clients that have transacted more than $18M in the platform.
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