Klavi Raises $15M for Its Open Finance Solutions that Help Empower Companies

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on August 12, 2022

Open Finance is all about the sharing of financial data with trusted APIs, with the end goal being better financial products and services, greater control, and the ability to make better financial decisions. To that end, Klavi is empowering companies with Open Finance solutions, offering easy access to financial data that is turned into useful analytics and insights. In addition, Klavi’s various tools and models help companies get exactly what they need. Learn more about the company and its plans for this funding in the press release below.

Klavi — a leading SaaS platform in data aggregation, analytics, and API services, who aims to empower companies with its Open Finance solutions, has just received an investment of USD 15 million. The Series A investment round included investors like GSR Ventures and two Brazilian companies, Iporanga Ventures and Parallax Ventures. Klavi also received investments from CIP SA and Vivo Ventures (Vivo’s CVC). For both companies, this is the first operation of its kind. The financing includes an additional closing of up to 90 days, which will bring in more investors.

With the goal of becoming an Open Finance solutions leader in mind, Klavi aims to use the funds to bolster its technology sector, data processing, and the creation of new products focusing on B2B. “This is an important moment and the investment will foster and create solutions so that our clients can generate value from Open Finance”, explained Bruno Chan, CEO of Klavi.

The startup, founded in 2020 by Bruno Chan and Stone Zheng, attracted investors because of its pioneering technology in generating insights from Open Finance data and potential growth, offering products to businesses of any size. Klavi hopes to grow its base to over 100 assets by the end of 2022, and to reach 500 by December 2023. Its current clients include BV, Telefônica, Mepoupe, CIP S.A., Gorila, Jeitto, Supersim, Simplic, Portocred and Zippi, among others.

“With the maturation of Open Finance, we’re seeing a huge gap between the data received by companies, and their use thereof. With this investment, we will conquer more space and continue to grow, reinforcing our leadership as a solution provider for the industry”, said Chan.

With its classification operations of over 90% accuracy, the platform has already processed over 450 million transactions and made more than 4 million connections with financial institutions, bureaus, fintechs, and startups. In 2021, it received a seed investment of USD 1.25 million, led by Iporanga Ventures, along with participation from Parallax Ventures.

The original press release can be found on PR Newswire.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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