Leader in Brazil’s agri-freight financing and digitization, Brazilian log-fintech goFlux, secured USD 6 million (about R$ 30 million) in Series A funding.
Capria Ventures, a Global South-focused venture capital firm that specialises in applied Generative AI investments, led the round. The company that had headed the initial round in 2021, SP Ventures, also made a follow-on investment in this round. Along with other US and Swiss-based investors, new overseas investors included The Yield Lab Latam (Argentina), Blue Impact Global, Reflect Ventures, and Arrebol Capital.
Rodrigo Gonçalves, Founder and CEO of goFlux, said: “The success of this oversubscribed funding round gives us the confidence that we are on the right path. Our investors see immense potential in our unique business model, execution capacity, and our sustainable growth trajectory in Brazil and Latin America. The main highlight of this round is the interest from the international market, with 90% of investors from outside Brazil.”
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The capital raised by goFlux will be used to expand its sales team, strengthen its finance capabilities, enhance platform features, maintain security and compliance, and make investments in artificial intelligence (AI) to predict goods.
Will Poole, Managing Partner, Capria Ventures, said: “From the outset, we were impressed with the team’s vision and execution capabilities to revolutionize the agricultural freight landscape in Brazil and beyond. We see a huge opportunity for goFlux to not only promote access to underbanked SME carriers through its factoring product but also to apply Generative AI to enhance productivity and help their customers with easier decision-making and strategic planning in a complex data-rich domain.”
The platform operated by goFlux handled 42 million tonnes of freight in 2023, or almost USD 1.5 billion. The company’s current goals include growing its market share in non-agribusiness-related major areas like steel, food, paper and pulp, and civil construction.
About goFlux
goFlux digitalize the entire logistics process, managing everything from contracting freight from shippers to the payment process to carriers.
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