Brazil is known for the lush rainforests and for having a particular talent for football, but the country also has a rapidly growing startup ecosystem that is going from strength to strength each year. Some of the biggest Brazilian startups out there in the market at the moment are Agrolend, Nubank and Wildlife Studios. There are a number of reasons why the ecosystem is increasing in strength, with top startups carrying it.
Firstly, the presence of VC funding in the country is increasing. In 2022, the country's startups raised more than $1.16 Billion in seed stage funding alone, which increased 9% from the previous year. There are also more than 300 VC firms doing business in the country. There are also a range of incubators and accelerators for early-stage startups.
The Brazilian government is becoming increasingly proactive in helping its startups become successful. One such example of this is the Startup Outreach Brasil Program, which aims to connect Brazilian startups with innovation ecosystems around the world to improve their connections and access to opportunities.
1. Z1
Year Founded: 2020
HQ: São Paulo, Brazil
Size: 1-10
Founders: João Pedro Thompson, Matheus Craveiro, Sophie Secaf, Thiago Waddington Achatz
Z1 is a Brazilian startup that was founded in 2020 and is currently based in Brazil. The company operates in the FinTech market and has created a digital-only bank for teenagers and young adults in the country. This helps them with learning skills for financial literacy and independence.
The company has secured a respectable amount of startup funding since being founded, with the startup raising a total of $13.3 Million. This funding was achieved through four rounds of startup funding.
2. Gupy
Year Founded: 2015
HQ: Cerqueira César, Brazil
Size: 51-100
Founders: Bruna Guimarães, Guilherme Henrique Dias, Mariana Dias, Robson Ventura
Gupy is a Brazilian startup that was founded in 2015 and is currently based in Brazil. The company works in the HR market and is revolutionizing the space in the country. The company has created a digital platform to streamline the processes of recruiting and hiring, to save businesses money and headaches.
The business has secured a large amount of funding since being founded, with the total funding amount reaching $93 Million through a funding round supported by Softbank and Riverwood.
3. Cariuma
Year Founded: 2018
HQ: Rio De Janeiro, Brazil
Size: 11-50
Founders: David Python, Fernando Porto
Cariuma is a Brazilian startup that was founded in 2018 and is currently based in the city of Rio. The company operates in the fashion industry, creating sustainable, stylish and comfortable sneakers. The company even plants two trees for every pair of shoes it sells, helping to bring the rainforest back in Brazil.
The business has raised a large amount of funding since being founded, with $29.5 Million being raised across four rounds of startup funding. With the last funding round taking place in October 2022.
4. Buser
Year Founded: 2016
HQ: São Paulo, Brazil
Size: 101-250
Founders: Marcelo Coelho Vasconcellos
Buser is a Brazilian startup that was founded in 2016 and is currently based in Brazil. The company works in the transportation sector and has created a collaborative charter platform that helps customers to get low prices on bus tickets for journeys all across the country. This saves money for other expenses.
This startup has raised a massive amount of startup funding since being founded, with the company raising $138 Million, with support from LGT and Softbank to improve its offering and expand the business.
5. Rebel
Year Founded: 2016
HQ: São Paulo, Brazil
Size: 51-100
Founders: Andre Botelho Bastos, Paulo Asterio Nunes, Rafael Pereira
Rebel is a Brazilian startup that was founded in 2016 and is currently still based in the country. The business operates in the FinTech market and has created an alternate online lending platform that also has its own credit score, which aims to help customers to improve their financial literacy.
The business has secured a large amount of funding since being founded, with one of its most impressive funding rounds being a round in August 2019 when it raised $42.2 Million to fuel its expansion.
6. CloudWalk
Year Founded: 2013
HQ: São Paulo, Brazil
Size: 101-250
Founders: Arthur Macedo, Behzad Malek, Bruno Freitas, Eliezer Pimentel, Luis Silva
CloudWalk is a Brazilian startup that was founded in 2013 and is based in the city of Sao Paulo, Brazil. The company operates in the FinTech market and has developed a payment network solution which aims to improve market conditions in Brazil by providing fairer payment terms for merchants.
The company has been incredibly successful in raising startup funding, with a total of $345.1 Million being raised. The company's most recent round, its Series C was worth $150 Million in November 2021.
7. Privacy Tools
Year Founded: 2019
HQ: Porto Alegre, Brazil
Size: 11-50
Founders: Aline Deparis, Marison Souza
Privacy Tools is a Brazilian startup that was founded in 2019 and is currently based in Porto Alegre. The company works in the privacy and cybersecurity sector and has developed a Privacy Management Software that helps businesses to comply with local privacy regulations and can support a range of locales worldwide.
The business has been successful in raising startup funding since being founded, the company has managed to raise a total of $1 Million. This funding was achieved with the support of four investors.
8. Sallve
Year Founded: 2018
HQ: São Paulo, Brazil
Size: 51-100
Founders: Daniel Wjuniski, Julia Petit, Juliana Shor, Marcia Netto
Sallve is a Brazilian startup that was founded in 2018 and is currently based in Sao Paulo. The company operates in the cosmetics market and wants to change the market in Brazil by offering high-quality products that are safe and better on the budget for people in Brazil, where products can be insanely expensive.
The company has been successful in raising startup funding since being founded, with the company raising a total of $31.8 Million. This was achieved over four rounds of startup funding.
9. Piipee
Year Founded: 2015
HQ: São Paulo, Brazil
Size: 1-10
Founders: Ezequiel Vedana da Rosa
Piipee is a Brazilian startup that was founded in 2015 and is currently based in Sao Paulo, Brazil. The company aims to make better cleaning products by ensuring that they're biodegradable, with wonderful fragrances to eliminate common bad odours in the home.
The business has secured some startup funding since being founded, with the business raising a total of R$150,000 in funding.
10. Pier
Year Founded: 2018
HQ: São Paulo, Brazil
Size: 51-100
Founders: Igor Mascarenhas
Pier is a Brazilian startup that was founded in 2018 and is currently based in Sao Paulo. The company operates in the insurance market and provides easy cover for smartphones and vehicles. Insurance in Brazil can be complicated and difficult to deal with, Pier makes it easier for its customers.
The company has raised a large amount of startup funding since being founded, with $42.1 Million being raised, this funding was achieved through the support of eight investors. It is unclear if the business has further plans for funding.
11. Conexa Saude
Year Founded: 2017
HQ: São Paulo, Brazil
Size: 11-50
Founders: Fernando Domingues
Conexa Saude is a Brazilian startup that was founded in 2017 and is currently based in Sao Paulo. The company aims to make healthcare more convenient and accessible in Brazil, by creating a digital health platform that easily connects patients with the medical professionals they need.
Since being founded, the company has been very successful in raising startup funding, with a total of $45.5 Million being raised across three rounds of startup funding. This funding has helped the business to grow and expand its operations.
12. Cora
Year Founded: 2019
HQ: São Paulo, Brazil
Size: 101-250
Founders: Igor Senra Magalhaes, Leonardo Soares Barbosa Mendes
Cora is a Brazilian startup that was founded in 2019 and is currently based in Sao Paulo. The company operates in the FinTech market and aims to make it easier for smaller companies to do business in the country. They achieve this by providing a digital bank account for smaller businesses, to make it more convenient to access financial products and make payments.
Cora has secured a huge amount of startup funding since being founded, with a total of $254.8 Million being raised. The company's Series B round raised $116 Million with support from Sevenoaks Capital.
13. Ramper
Year Founded: 2016
HQ: São Paulo, Brazil
Size: 11-50
Founders: Henrique Machado, Ricardo Corrêa
Ramper is a Brazilian startup that was founded in 2016 and is currently based in Sao Paulo, Brazil. The company operates in the SaaS market and has developed a platform to assist the sales teams of various companies and help them to bring in more profit for their organization.
Since being founded, the company has been successful in raising startup funding, with $3 Million being raised in the company's Pre-Seed round. This funding round was led by Hashed.
14. Stillingue
Year Founded: 2014
HQ: Sao Paulo, Brazil
Size: 101-250
Founders: Rodrigo Helcer
Stillingue is a Brazilian startup that was founded in 2014 and is currently based in the city of Sao Paulo. The company has created a platform for social listening that allows businesses to generate better experiences between them and their customers. This is achieved through the provision of actionable data.
The company has been very successful in raising startup funding, with a total of $18 Million being raised from a pair of investors.
15. UOL EdTech
Year Founded: 2014
HQ: São Paulo, Brazil
Size: 11-50
Founders: Luis Novo, Raul Nichele, Ricardo (Rico) Katayama
UOL EdTech is a Brazilian startup that was founded in 2014 and is currently based in Sao Paulo, Brazil. The company works in the HR and education sector and has created an omnichannel platform to help companies that want to improve their access and implementation of intellectual capital.
The business has secured a respectable amount of startup funding since being founded, with $3.4 Million being raised from nine investors. It is unclear if the company will seek further funding in the immediate future.
16. Idwall
Year Founded: 2016
HQ: São Paulo, Brazil
Size: 51-100
Founders: Lincoln Ando, Raphael Melo, Renan Esposte
Idwall is a Brazilian startup that was founded in 2016 and is currently based in Sao Paulo. The company works in the security and compliance market, and helps businesses with creating processes for the storing and management of customer credentials in order to maintain security and compliance.
The startup has secured a large amount of startup funding since being founded, with a total of $51.8 Million being raised. The company's most recent round, a Series C netting $38 Million.
17. FitBank
Year Founded: 2015
HQ: Sao Paulo, Brazil
Size: 101-250
Founders: Unknown
Fitbank is a Brazilian startup that was founded in 2015 and is currently based in Sao Paulo, Brazil. The company operates in the FinTech market and builds the infrastructure needed for businesses to use payment solutions, which is a rapidly growing market in the country.
The business has secured a large amount of startup funding since being founded, with JP Morgan also backing the business in return for a minority stake, which highlights the effectiveness of their business model.
18. Klever
Year Founded: 2019
HQ: São Paulo, Brazil
Size: 51-100
Founders: Dio Ianakiara
Klever is a Brazilian startup that was founded in 2019 and is currently based in Sao Paulo, Brazil. The company operates in the cryptocurrency market and has created a platform for users to trade their crypto with lower fees and rates than competing platforms, making people's crypto go further.
Despite the success of the business, it has not yet sought out any startup funding. It is currently unclear if the business has any plans to raise funding in the near future.
19. Uello
Year Founded: 2016
HQ: São Paulo, Brazil
Size: 101-250
Founders: André Martins, Fernando Sartori
Uello is a Brazilian startup that was founded in 2016 and is currently based in Sao Paulo, Brazil. The company operates in the logistics market and uses smart technology to effectively manage a huge workforce of independent resources to create a better delivery experience.
Since being founded, the company has been successful in raising startup funding, with a total of $5.5 Million being raised from two rounds of startup funding. It is unclear if the business has plans for future funding in the future.
20. Omnichat
Year Founded: 2017
HQ: Curitiba, Brazil
Size: 11-50
Founders: Mauricio Trezub
Omnichat is a Brazilian startup that was founded in 2017 and is currently based in Curitiba, Brazil. The company helps businesses to add better personalisation in their sales messages on a wide variety of chat platforms. This helps businesses to improve their conversions and get more sales.
The business has secured a respectable amount of startup funding since being founded, with R$20 Million being raised. This funding was achieved with the support of three investors.
21. Bynd
Year Founded: 2014
HQ: São Paulo, Brazil
Size: 1-10
Founders: Abraão Barros, Gustavo Gracitelli, Leonardo Liborio
Bynd is a Brazilian startup that was founded in 2014 and is currently based in Sao Paulo. The company works in the transportation market and has developed a carpooling platform for use with businesses and individual users. This helps people to save a lot of money on associated costs.
Bynd has been successful in securing startup funding, with R$1.2 Million being raised from its funding rounds.
FAQs
How Many Startups Are There in Brazil?
There are more than 12,000 startups actively working in Brazil.
What is the Average Investment in Brazil?
The average Seed Round in Brazil is worth $432,000 and the average Series A is worth $4.8 Million.
What Startup Industries Are The Strongest in Brazil?
The strongest startup industries in Brazil are FinTech, E-commerce and Transport.
