Vixtra receives BRL 16m from Valor Capital and QED Investors to expand foreign trade fintech solutions, co-CEO says

Breaking News 26 October

Vixtra receives BRL 16m from Valor Capital and QED Investors to expand foreign trade fintech solutions, co-CEO says

Vixtra, a Brazilian payment and credit provider for importers, has raised BRL 16m (USD 3m) in a pre-Series A round led by New York-based Valor Capital, co-CEO Leonardo Baltieri said. 

Alexandria, Virginia-based QED Investors  also joined the round through its Latin America-focused seed investment fund Fontes, Baltieri said. 

The Sao Paulo-based fintech plans to use part of the proceeds to strengthen its credit rights investment fund (FDIC, in the Portuguese acronym), the co-CEO said. Fresh funds will also be used to increase its payment transactions and credit solutions, leverage its technology, and enhance its product offerings, he added.  

Vixtra held talks with a pool of financial investors but opted to close a deal with Valor Capital due to its strong know-how about Brazil´s economic landscape and venture capital industry, Baltieri noted. QED Investors, for its part, was appealing due to its global outreach, he added.  

The fintech plans to launch a Series A round next year and is receptive to overtures from potential investors, especially global VC funds, the co-CEO said, without offering further details.  

Vixtra in October 2021 raised BRL 35m in a mix of equity and debt from undisclosed partners at Sao Paulo-based import trading company Sertrading and a few local asset managers, the co-CEO said. 

The company is currently focused on its domestic growth but plans to expand to other Latin American countries like Mexico, Colombia, and Argentina in 2023 or 2024, the executive said, adding that its digital platform is easily scalable. 

The fintech finances Brazilian importers’ purchases, allowing them to pay for imports in up to 120 days. It expects to increase its undisclosed volume of monthly transactions 20x by 1H23, the co-CEO said.  

Vixtra also enables importers to access various services related to international trade on a single platform, helping them consolidate their operations online, the executive noted. 

The fintech, which keeps its revenue figures private, serves customers in the tire, chemical, metals, and electronics sectors, among others. Most of its clients import from Asia, Baltieri said.

Brazil´s import market reached USD 220bn last year and has reported a growth rate of 30% year-to-date, according to the Ministry of Economy. And yet, imports still account for only 15% of Brazil’s GDP, compared with the world average of 29%, according to the World Bank.

“About 90% of the 42,000 Brazilian companies that buy from abroad import less than USD 10m per year and are small to medium-sized enterprises that struggle with very restricted access to credit and payment terms,” the co-CEO said.  

The ongoing digitalization of several international trade databases has also created good business opportunities for foreign trade-focused fintechs, he pointed.  

Baltieri co-launched Vixtra in July 2021 alongside co-CEO Guilherme Rosenthal and Commercial Director Caio Gelfi. 

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