Brazilian agriculture fintech startup Traive raised $20M in funding from Banco do Brasil and existing investors. The round comes 15 months after its $10M Pre-Series B in October 2022, totaling $47.8M raised to date.
Traive will use the funds to advance its technology, expand operations in Brazil, and launch a credit platform connecting the agriculture supply chain to capital markets.
“The contribution aims to generate efficiency and a positive impact in the credit granting process for agriculture, and in the production activity of our clients in the sector,” said Rodrigo Vasconcelos, Director of Digital Business at Banco do Brasil.
Traive’s solution offers complete management of the credit process, employing artificial intelligence to assess risk profiles in the agribusiness sector.
“Our next step would be to expand to other countries, with the goal of consolidating our risk diversification thesis,” said Fabricio Pezente, CEO of Traive.
Founded in 2017, Traive reports processing over $1.7B in credit transactions on its platform.
Read more at Latam Fintech