Trace Finance, a Sao Paulo, Brazil-based fintech startup, raised $4.3M in Seed funding.
The round was led by HOF Capital with participation from Circle Ventures, The Chainsmokers,
Stellar Development Fund, 2TM (the venture arm of Mercado Bitcoin), BlockFi Ventures and its CEO Zac Prince, Marcelo Sampaio of Hashdex, Miguel Fernandez of Capchase, Oliver Jung (who invested into Nubank, Brex and Airbnb), and founders of Rappi, Coinmarketcap and Quantstamp.
The funding will be used to create a US-based bank account for LatAm startups, expand operations in both Brazil and the United States, and further streamline the process of exchanging capital across borders.
Founded in early 2021 by Bernardo Brites, Rafael Luz, and Leone Parise, Trace Finance is a fintech platform which has extensive experience in crypto and fintech businesses. The company works with startups and investors to improve the experience of moving money across borders and enables them to have a seamless banking experience in each of the jurisdictions they operate in, with an interconnected financial platform.
The company currently has over 30 enterprise clients including Noh, Condoconta, Pomelo, Zippi, The Coffee and Big Bets and a big waitlist for the US banking product.
FinSMEs
21/02/2022