Divibank, a Sao Paulo, Brazil-based financing platform where LatAm businesses have access to growth capital via revenue-share financing, closed a $3.6M seed funding round.
The round was led by Better Tomorrow Ventures (BTV) with participation from Maya Capital, Village Global, Clocktower Ventures, Magma Partners, Gilgamesh Ventures, Rally Cap Ventures, Alumni Ventures Group, Sebastian Mejia (Founder/President of Rappi), Tayo Oviosu (Founder/CEO of Paga, who participated via Kairos Angels), Karim Atiyeh (Founder/CTO of Ramp), Josh Abramowitz and Daniel Simon (founders of Bread).
The company intends to use the funds to accelerate its product roadmap and ramp up hiring in engineering/tech, sales, marketing, credit risk, and operations.
Led by Jaime Taboada, co-founder and CEO, and Rebecca Fischer co-founder & CPO, Divibank is a data-driven financing platform where businesses have access to capital to finance their growth via revenue-share/non-dilutive financing. The company also offers marketing analytics software for clients to get more value out of the capital they receive.
The company is also working on a few additional financial products for its clients, targeting the $205B+ ecommerce and SaaS markets in Latin America with offerings such as inventory financing and recurring revenue securitizations.
Today, the team consists of 7 employees in Brazil.