Torqi, a Brazilian fintech focused on agribusiness logistics, received a $12 million investment round led by Galapagos Capital. Allowing Torqi to explore new territories in the transportation market and improve credit and collection processes and policies.
The transportation market in Brazil is facing significant changes with digitization, resulting in a drop in informal freight carriers’ usage.
Eduardo Arnoni, Torqi’s CEO, highlighted the startup’s transparent and agile approach in a historically neglected industry by the financial sector. Torqi has earned the respect of agribusiness customers in Brazil by significantly reducing ownership costs.
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