Klavi bags $15 million to improve access to Open Finance solutions in Brazil

Oluwajuwonlo Afolabi -

Klavi, a Brazil-based software-as-a-service (SaaS) startup that is offering open finance solutions to improve services for B2B enterprises, has raised $15 million in its Series A funding round led by Iporanga Ventures, Parallax Ventures and GSR Ventures, venture capital funds.

  • The fund will be invested in strengthening its technology stack, creating opportunities for B2B services and the data processing sector, and launching new products, the SaaS platform claims.
  • Founded by Bruno Chan and Stone Zheng in 2020, Klavi generates insights from Open Finance data in Brazil, for solutions to all business sizes. The startup targets financial and non-financial companies that need a solution for information portability and processing, including executives, directors, product managers, credit, and innovation.
  • The SaaS platform empowers companies with Open Finance Solutions, including data aggregation, analytics, and more services through its APIs. These services make it possible for fintech and businesses to know their customers better and advance innovations in products and services.
  • It aims to increase its client base to 100 by the end of 2022 and 500 by the end of 2023. It focuses on using insights from Open Finance data for businesses and helping new entrant businesses accelerate in the data space using its SaaS technologies.
  • CIP S.A, a banking information provider and Vivo Ventures, Vivo's Corporate Venture Capital (CVC) participated in the funding round. The round is still welcoming investors for up to 90 days more, Klavi claims.