Participated · Series C · Oct 2024

Agrolend operates a lending platform that provides credit at the point of sale for agricultural inputs (seeds, crop protection, crop nutrition) using CPR-F contracts signed via farmers’ WhatsApp. The company leverages a distribution network of more than 150 partners—retailers, industries, and cooperatives—and operates in over 15 Brazilian states across crops including soybeans, corn, coffee, sugarcane, fruits, vegetables and livestock. Agrolend finances loans through issuance of time deposits targeted to agribusiness (LCAs) distributed on major investment platforms. The company has nearly $100M in total funding and reports a capital base of approximately $100M following the latest round. Management says the capital increase will let Agrolend expand credit offerings to industries, retailers and cooperatives without raising its leverage ratio, continuing a history of low‑risk growth. Its stated goal is to grow the credit portfolio to $600M and serve about 10,000 small and medium‑sized farmers. Agrolend is a São Paulo-based financial institution that provides credit to small and medium-sized farmers in Brazil through a digital platform. Led by CEO Andre Glezer, the company originates and formalizes loans in a digital environment via smartphone, partnering with input and equipment distributors, industries and agtechs to finance technology. It operates in more than ten Brazilian states across crops and sectors including soybeans, corn, coffee, sugar cane, fruits, livestock and dairy cattle. Agrolend is targeting expansion to serve up to 10,000 small-to-medium sized farmers and increase its loan book to R$2 billion for the 2023/24 crop season. The company expected its loan book to reach R$250 million by the end of 2022 and will increase equity to R$220 million after the Series B. The business combines digital origination with partnerships and capital markets solutions to scale agricultural credit across Brazil. Agrolend offers a 100% digital credit product for small and medium agricultural producers, with a fast, low-friction underwriting process that completes in under five days and typically does not require physical collateral. The company uses advanced technology to enable an innovative credit model focused on financing diverse agricultural productions and investments in equipment and new technologies. Agrolend emphasizes ESG and social impact by targeting underserved producers across more than 10 Brazilian states and roughly 100 municipalities. Founded in December 2020, the startup says it is currently doubling in size every month. The recent capital will support growth of the credit portfolio, expansion of the team, and improvements to the platform and credit model. Management aims to scale the loan book to R$1 billion and reach 5,000 customers within two years. Agrolend offers an online loan origination platform for small and medium-scale farmers, using advanced technology and innovative credit analysis to underwrite loans without physical collateral. The company partners with traditional agricultural inputs players and supply-chain participants to originate loans and reach growers. Loans range from 50,000 to 300,000 Brazilian reals, run for up to one year, and are repaid after harvest; some loans can be issued as soon as 24 hours after request. Agrolend says it offers lower interest rates than traditional banks and operates the entire process digitally. Founded in December 2020 and based in São Paulo, the startup raised seed capital to scale lending and build its team. It plans to structure a fund that will receive and hold originated loans, with Agrolend selling loans to that debt investment vehicle to enable much larger lending capacity.

Participated · Seed · Jul 2024

Splight is a San Francisco–headquartered grid technology company that deploys machine-learning solutions through its Dynamic Congestion Management™ (DCM) product. DCM ingests real-time grid data and uses a proprietary ML algorithm to turn Fast-Responding Assets (FRAs) such as battery storage and data centers into operational tools that can reliably unlock up to 100% more transmission capacity versus traditional approaches. The company reports over 3 gigawatts of grid assets under management and has offices in Texas, Chile, and Spain. Splight plans to accelerate DCM deployments across the U.S. and Europe and to launch new technical capabilities including AI-Enabled Electrical Studies for Data Centers, enhanced DCM algorithms, a DCM Sandbox modeling tool, and Real-Time Simulation (RTS). It will also expand its San Francisco headquarters along the Embarcadero and grow its Bay Area technology and product teams. Commercially, Splight targets utilities, renewable developers, and large loads to reduce curtailment, shorten interconnection timelines, increase reliability, and maximize use of existing transmission infrastructure. Splight is a San Francisco, CA-based AI startup developing AI-based technology for advanced grid operations that tackles congestion using inverter-based resources (IBRs). Its platform aims to reduce curtailment and accelerate the connection of utility-scale renewable power plants as well as the deployment of distributed energy resources (DERs) and batteries. The company was founded by Thomas Vadora, Fernando Llaver, and Carlos Caldart. Splight raised $12M in Seed funding. It intends to use the funds to expand its North America and EU presence and to grow its development, implementation, and leadership teams.

Led · Seed · May 2024

Ruedata offers a SaaS platform that analyzes fleet data and uses automated learning algorithms to help fleet managers optimize tire usage, plan maintenance and compliance, and identify abnormal wear and cost overruns. The software targets heavy vehicles such as cargo trucks and buses. The company operates across Latin America and the US. Ruedata plans to use its recent funding to expand its team and build a marketplace that connects fleet managers with vehicle repair and tire shops to simplify tire purchases. The business emphasizes reducing emissions and improving efficiency through data management. Ruedata was founded in 2017.

Participated · Series A · Mar 2024

Marco is building an operating system for Latin American SME exporters engaged in cross-border trade, providing them with easier access to financing and operational support. The platform offers a suite of products including LLC creation, bookkeeping, banking, FX payouts, cargo insurance, and financing tools such as factoring and asset-based lending. Founded in 2020 by Jacob Shoihet and Peter D. Spradling, Marco is headquartered in Miami with additional offices in New York City and Montevideo, Uruguay. The company employs over 50 people across its offices. Marco has established itself as a key player in the trade finance sector serving historically underserved SMEs. It intends to use the funds from this round to further enhance its ESG efforts within the LatAm region. Marco provides a tech-enabled trade financing platform that acts as an operating system for SMEs engaged in trade across LatAm and the U.S. The company was founded in 2020 by Peter D. Spradling (COO) and Jacob Shoihet (CEO) and is based in Miami with offices in Montevideo and New York. Marco intends to use the funds to expand its trade finance platform and suite of trade services across target segments in the U.S. and Latin America, including Mexico, Ecuador, Colombia, and Peru. The company reported rapid growth: it lent $100M last year, has financed over $254M with zero losses since inception, and saw 1,500%+ CAGR in funding between 2021 and 2022. Marco aims to fund $750M by the end of 2023. Marco Financial offers a tech-enabled risk assessment and factoring platform to provide working capital to small and medium exporters across Latin America. Its product underwrites lines of credit based on future potential and customer-provided data, shortening loan origination from over two months to about one week and enabling funding within 24 hours. Since launching its product in January 2020, Marco has processed thousands of invoices across 20 countries totaling more than $18 million and now lends as little as $25,000 per month up to $10 million. The company aims to simplify cross-border payments, improve risk assessment by productizing unstructured data, and enable large logistics providers to originate export financing. Marco was founded in 2019 and is based in Miami with offices in New York, Dallas and across Latin America. The company also announced senior hires including Prajwal Manalwar as chief product officer and named Sabrina Teichman chief growth officer (editor's note: as of September 2021, Sabrina Teichman no longer works for Marco Financial). Marco Financial is a tech-enabled financing platform that provides financing to small and medium-sized Latin American exporters selling to U.S. buyers. The company uses an innovative due diligence process that leverages real-time data to dynamically assess risk and mitigate capital loss. Marco intends to use the new capital to continue expanding operations and its business reach across the region. The company was founded in 2019 by Peter D. Spradling and Jacob Shoihet and is headquartered in Miami, FL, with offices in New York and across Latin America. The financing package includes both an equity component and a credit facility, indicating a mix of growth capital and lending capacity to support originations.

Participated · Equity · Dec 2020

Trocafone operates a platform for buying, refurbishing and reselling used smartphones and tablets, performing rigorous hardware and software quality checks before listing devices for sale. The company also offers device insurance against accidental damage, theft and loss, and supports leasing programs that allow consumers to pay in installments and return or buy out devices at contract end. With plans to expand its service offering in Brazil, Trocafone is preparing a new express repair service to fix smartphones and tablets in a few hours. The startup employs about 400 people and says it will increase headcount by 50% with the new capital. Trocafone has sold more than 1.4 million devices, saw sales double during the pandemic year versus the prior year, and expects an 80% increase in device sales by year-end. It sells refurbished phones at discounts of roughly 35–40% and distributes through its site and retail partners including Casas Bahia, Americanas.com, Ponto Frio, Magalu, Samsung, Fast Shop and Vivo. Trocafone is an online marketplace focused on buying, refurbishing, and reselling used consumer electronics, primarily smartphones. The company accepts devices from consumers, repairs them, and retails them at roughly 50–60% of market price. It currently operates in Brazil and Argentina and counts more than 1 million buyers and sellers on its platform. In its three-year history it has signed six deals with phone makers and telecommunications companies to power trade-in programs. With recent funding, Trocafone is targeting expansion into Russia and additional countries that lack carrier subsidies or loan programs. The company has now raised nearly $40 million in total funding. Trocafone operates a certified refurbished smartphone marketplace that buys back, refurbishes and resells used phones across Latin America. The company partners with major brands, manages buyback programs and sells directly to consumers through its web portal. Certification and GSMA IMEI checks are central to its model, helping prevent the resale of blacklisted or stolen devices. Trocafone launched a trade-in program with Samsung two years prior and claims to be the largest reseller of certified used phones in Brazil. It is currently selling about $3 million worth of phones per month and expects to reach a $70 million annualized run rate by November. The company began operating in Argentina in March 2016 and says it will use new funding to continue international expansion across Latin American and other markets. Trocafone acquires used mobile phones, refurbishes them, and resells them with the same features as a new device for about 40% of the new-device price. The startup raised $1.1M in a funding round that included Quasar Ventures, the incubator Wayra and NXTP Labs. Proceeds from the round are intended to support regional development, with an initial launch in Brazil followed by expansion into Argentina and the rest of Latin America. The company positions its service as a lower-friction, lower-risk way to buy and sell phones. The article frames this against a growing market, citing projections of 225 million mobiles in the U.S. and 241 million in Latin America by 2017 and noting that phone prices in Latin America can be up to five times those in the U.S. The funding round was announced on November 17, 2014.