– Citcon received $30m in Series C financing led by Norwest Venture Partners and Cota Capital.
– The new funding will support the rapid addition of world-class staff and global expansion that builds on the company’s international presence on four continents.
– The company’s annualized payment volume is more than $1 billion, representing 300%+ year-on-year growth.
– Citcon’s global enterprise payments gateway allows merchants to participate in global commerce by enabling secure online or in-store transactions with more than 100 different payment methods, including mobile wallets, local payment schemes, and traditional credit cards — all through one single integration and reconciliation platform.
– Justos, a startup that says it will be the first insurance company in Brazil to use data when determining rates, has raised a $35.8 million Series A round of funding led by Ribbit Capital.
– SoftBank’s Latin American Fund and GGV participated as new investors, in addition to existing backers Kaszek, BigBets, Nubank CEO David Velez and Kavak CEO Carlos Garcia Ottati.
– The process to get insurance in the country, by any accounts, is a slow one. It takes up to 72 hours to receive initial coverage and two weeks to receive the final insurance policy. Insurers also take their time in resolving claims related to car damages and loss due to accidents, the entrepreneurs say. They also charge that pricing is often not fair or transparent.
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