- 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.

– Kavak, a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced that it has raised a massive $700 million in a Series E round that more than doubles the company’s valuation to $8.7 billion.
– Cambridge, Massachusetts-based General Catalyst led Kavak’s Series E, which brings the company’s total raised to over $1.5 billion since its 2016 inception.
– Tiger Global, Spruce House, D1, SEA, Founders Fund, Ribbit Capital, SoftBank and others also participated in the latest financing.

– Vouch is an insurance platform for startups.
– Company raised $90M in Series F funding.
– The round was led by Redpoint Ventures, Silicon Valley Bank Capital, Ribbit Capital, Allegis Group, Sound Ventures, and SiriusPoint.
– The new investment will be used to expand the company’s operations and line of insurance products.

– Wave, a U.S. and Senegal-based mobile money provider, raised $200m in Series A funding.
– The investment is the largest-ever Series A round for the region, and it values Wave at $1.7bn.
– The round was led by Sequoia Heritage, an endowment-style fund and a separate entity that operates independently under the Sequoia brand; Founders Fund; payments giant Stripe; and Ribbit Capital.
– Other investors include Partech Africa and Sam Altman, the former CEO of Y Combinator and current CEO of OpenAI.

– Offchain Labs is a NYC-based provider of scaling solutions for Ethereum.
– The company raised $120m in Series B funding.
– The round was led by Lightspeed Venture Partners with participation from Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, Mark Cuban and others.
– The new funding will be used to scale the team, further develop the Arbitrum One ecosystem, build out new scaling solutions in its pipeline and invest in R&D.

– Balance is a San Francisco, CA-based payments experience platform for B2B eCommerce.
– Company raised $25m in Series A funding.
– The round was led by Ribbit Capital, with participation from Avid Ventures as well as existing investors Lightspeed Ventures, Stripe, Y Combinator Continuity Fund, SciFi VC and UpWest, and individuals Jacqueline Reses (formerly Head of Square Capital) as well as additional early employees and executives from Square, Plaid, Coinbase, Stripe, and PayPal.
– The new investment will be aimed at expanding the company’s business reach.

– Brazilian digital lender Cora raised $116m in Series B funding.
– The round was led by Greenoaks Capital and joined by Tiger Global and Tencent.
– Existing backers Kaszek, QED and Ribbit Capital also participated.
– The company declined to comment on valuation.

– QuintoAndar, a Brazilian proptech, raised $120m in Series E funding.
– The round was led by Greenoaks Capital and Tencent, and joined by Ribbit Capital, and others.
– It brings QuintoAndar to a valuation of $5.1 billion.
– The company plans to enter the Mexican market as its first expansion outside of its home country.

– Ualá, a Buenos Aires, Argentine-based fintech company, raised $350M in Series D funding.
– The round was led by SoftBank Latin America Fund and Tencent with participation from funds managed by Soros Fund Management LLC, funds managed by Goldman Sachs Asset Management, LP, Ribbit Capital, Greyhound Capital, Monashees, Endeavor Catalyst, D1 Capital Partners, 166 2nd, along with angel investors such as Jacqueline Reses and Isaac Lee.
– The company, which reached a valuation of $USD2.45b, intends to use the funds to expand operations, with plans to have a team of 1,500 employees by the end 2021, and its business reach, developing new business verticals, providing innovation and technological development in Latin America.

– Chipper Cash is a San Francisco, CA-based cross-border payments services company.
– The company raised $100m in Series C funding.
– The round was led by SVB Capital and attracted new investor – Deciens Capital as well as existing backers – Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital and Brue2 Ventures.
– The new investment will be used to expand operations and business reach.

– QuintoAndar, a proptech startup, raised $300m in Series E funding.
– The round was led by Silicon Valley-based Ribbit Capital and joined by SoftBank’s LatAm-focused Innovation Fund, LTS, Maverick, Alta Park, an undisclosed U.S.-based asset manager fund with over $2 trillion in AUM, Kaszek Ventures, Dragoneer and Accel partner Kevin Efrusy.
– The company plans to use the funding to expand its services to include mortgage, title, insurance and escrow services.

– Figure Technologies, Inc. (Figure™) announced it is closing a $200 million Series D funding round at a $3.2 billion valuation.
– The round was led by 10T Holdings and Morgan Creek Digital and joined by new and existing investors including DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures, the partners at DST Global and others.
– The company also announced that Sachin Jaitly, General Partner at Morgan Creek, and Stan Mironshik, Partner and Co-Founder of 10T, will join the board.
– Figure is using Provenance, a public, open source, permissionless, decentralized blockchain, for its digital asset marketplaces including home lending, capital table management, fund management and administration, banking and payments.

– Vise is a NYC-based AI-powered investment management platform built for advisors.
– The company raised $65m in Series C funding.
– The round was led by Ribbit Capital, with participation from existing investors Sequoia Capital.
– The new investment will be used to continue to expand operations and rollout of new product features.

– German startup Vivid Money has raised a new $73m Series B funding round.
– The round was led by Greenoaks and joined by existing investor Ribbit Capital.
– Following this funding round, Vivid Money has reached a valuation of $436m.

– Warren has consolidated its position among Brazil’s top financial institutions by announcing a R$ 300m Series C round.
– The round was led by Singapore’s sovereign wealth fund GIC, a long-term global investor with investments in large groups such as Nubank, Sankhya, VR Benefícios and Hotmart.
– This funding round, which, at twice as much as the two prior rounds, was a record for the company, also included participation from Ribbit Capital, Kaszek and Chromo Invest – investors since Series A – and from QED Investors, Meli Fund and Quartz – investors since Series B.
– The fundraise reinforces Warren’s place as a pioneer in disrupting Brazil’s financial market, offering a transparent model aligned with the client.

– French startup Alan has raised a $220m funding round at a $1.67bn valuation.
– Coatue is leading the round with Dragoneer, Exor, and existing investors Index Ventures, Ribbit Capital and Temasek also participating.
– Alan has been building health insurance products from scratch.
– The company now covers 160,000 people.
– Overall, Alan generates over €100m in annualized revenue.
– The company has some capital requirements to comply with health insurance regulation.
– Alan managed to meet its goals and international expansion finally started to take off.

– Indonesian investment app Ajaib raised $65m in Series A extension.
– The extension was led by Ribbit Capital, the fintech investor that also led Robinhood’s $3.4 billion funding last month.
– Ajaib is Ribbit Capital’s first investment in Southeast Asia.
– The extension will be used to expand Ajaib’s product development and engineering capabilities.

– Chainalysis, the blockchain analysis company, has secured a $100m Series D financing led by Paradigm.
– Previous investors Addition and Ribbit increased their investment in the company; and TIME Ventures, the investment fund for Marc Benioff, also participated.
– Chainalysis’s proprietary cryptocurrency data powers its industry-leading investigations and compliance software, which enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering.

– Fireblocks, a cryptocurrency custody company, raised $133m funding.
– The round was led by Coatue, Ribbit and Stripes.
– BNY and Silicon Valley Bank are also participating in the funding round.
– Existing investors Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures are investing once again.
– Overall, Fireblocks has raised $179m since day one.
– The company doesn’t have a consumer-facing product.
– Instead, it sells its products to banks, fintech startups and other financial institutions.

– Robinhood is a Menlo Park, California-based provider of an online trading app.
– The company raised $3.4bn in funding.
– The round was led by Ribbit Capital with participation from existing investors including ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA.
– The new investment will be used to continue to invest in customer growth and build and enhance products that give more people access to the financial system.