The Venture Codex

Led · Debt Financing · Apr 2026

CloudWalk, which owns the InfinitePay payments platform, focuses heavily on financing credit-card receivables for micro and small entrepreneurs. The company says its receivables financing is a core growth pillar and reported revenue of R$5,440 million last year (up 104%) and net income of R$602 million (up 90%). CloudWalk has deployed FIDC financing at scale, raising about R$20 billion since 2021 and allocating prior issuances in full; its CloudWalk Bela fund held R$7.94 billion in net assets with no delinquency at the end of March. The firm reported that more than 6 million clients had used the service by October and had previously stated it had extended over R$2 billion in loans to more than 400,000 customers in two years. In June the company obtained a new central bank license enabling an expanded range of credit products, and leadership expects the active entrepreneur base to grow from roughly 3 million to about 6.3 million by 2025.

Led · Debt Financing · Feb 2026

99Pay, the fintech embedded within ride-hailing company 99, offers both payment services and direct-lending products under Central Bank licenses for Sociedade de Crédito Direto (SCD) and Instituição de Pagamento (IP) obtained in 2024. Since launching its credit operation in November 2022, the platform has originated approximately R$ 6 billion (≈ US$1.16 billion) in loans and now manages an active credit portfolio of about R$ 1.8 billion (≈ US$350 million). The service leverages 99’s large transportation user base to distribute financial products, positioning credit as a key growth pillar within the broader DiDi Chuxing ecosystem in Brazil. With more than 26 million customers reported for Q4 2024, 99Pay aims to deepen engagement by tailoring credit solutions to user needs. The fintech has repeatedly tapped structured credit markets to fund expansion, establishing three FIDC vehicles since inception. The latest raise strengthens liquidity for further loan origination while consolidating its standing in Brazil’s digital financial services landscape.

Participated · Debt Financing · Feb 2026

Zippi designs credit products specifically for Brazil’s 21 million micro-entrepreneurs, tying credit limits and repayment schedules to the actual retail cash flow captured through Pix transactions and other data sources. The company’s product supplies revolving working capital that adapts to daily sales patterns, aiming to replace one-size-fits-all consumer loans traditionally offered to small merchants. Management plans to double the business in 2025 and, by the end of 2026, expects to process about R$10 billion in cumulative transactions while managing R$350 million in its credit fund (FIDC). Previous FIDC issuances totaled R$66 million in 2024 and R$80 million in 2025. The newly strengthened capital structure is intended to widen the active customer base and grow per-client volume while maintaining portfolio quality and lowering funding costs. Zippi is led by CEO and co-founder André Bernardes and CFO and co-founder Bruno Lucas, and remains focused exclusively on the Brazilian market.

Led · Series B · Dec 2022

Docket offers a SaaS platform that automates operations reliant on documents, providing infrastructure to optimize processes from due diligence through formalization. The solution centralizes operations across locations and is used by more than 150 large companies. The company reports doubling in size each year and is reinforcing its leadership team with senior hires. Management says the market has accelerated adoption of SaaS and plans to further improve deliveries to partners. The recent financing will be used to consolidate growth strategy, increase operational efficiency, and attract new executives. Docket provides a subscription SaaS platform that automates document search, issuance, payment, quality control and pre-analysis for companies using AI and machine learning to speed validation. The platform gives customers visibility into each stage of the document process and notifies users when files are available for download. Docket targets large enterprises across more than 20 industry segments, including financial services, agribusiness, construction, retail, energy and telecom. Its technology is used to streamline operations such as credit approvals, due diligence, property development, certificate control and tax compliance. The company operates a monthly subscription model and positions its product to reduce operational costs and free teams for more strategic tasks. Founded in 2016, Docket says its mission is to desburocratize processes across Brazil and improve operational efficiency for corporate customers.