Traive raises US$20 million in round with Banco do Brasil | Business

Traive raises US$20 million in round with Banco do Brasil | Business
Traive raises US$20 million in round with Banco do Brasil | Business
-

The startup Traive announced the raising of US$20 million in an investment round with the participation of Banco do Brasil and current investors. BB made the contribution via the BB Impacto ASG I Fund, managed by Vox Capital.

The fintech trained Artificial Intelligence (AI) to evaluate more than 2,500 data points, generating a risk profile analysis more consistent with agribusiness.

The methodologies were screened by a technical panel from the prestigious Association for Computing Machinery (ACM) and were compared to those currently used by the global financial system.

Fabricio Pezente, CEO of Traive, states that the resources will be used to improve technology, expand operations in Brazil and launch a credit negotiation platform between the input chain and the capital market.

“The next step would be to expand to other countries, with the aim of consolidating our risk diversification thesis”, says Pezente. Created in 2017, the startup is based in the USA and operates in Brazil.

Credit risk automation and intelligence solutions based on this technology can accelerate the digital transformation process of the financial institution, assesses Rodrigo Vasconcelos, director of digital business at Banco do Brasil.

Improvements are expected in the bank’s products and services that support the entire agricultural sector chain, complementarity and expansion of credit solutions, increased availability of financing and promotion of environmental practices. “The contribution aims to generate efficiency and positive impacts in the concession process of agro credit and in the productive activity of our clients in the sector”, says Vasconcelos.

BB Impacto ASG, Banco do Brasil’s corporate venture capital fund managed by Vox Capital, targets startups that generate a positive impact on society and the environment, mainly companies in the Seed and Series A stages.

-

-

PREV Federal Institute of Roraima competition opens registration with 46 immediate vacancies
NEXT MPMS adopts measures to regularize oncology services in the Capital