The Venture Codex

Participated · Series B · Feb 2024

Simetrik offers a no-code, agentic-AI reconciliation platform that matches transactions from any source, standardizes data for reporting and AI use, and provides real-time oversight and exception alerts. The platform processes more than one billion records per day across 40+ countries and automates 100% of reconciliation workflows. Simetrik’s product is designed to shorten monthly closes, export AI-ready data for forecasting and risk modeling, and keep customers audit-ready without writing code. The company says its customer base includes Santander Group, Sephora, Mercado Libre, Nubank, Stax Payments, and others, and it partners with firms such as Deloitte. Simetrik reports 100% year-over-year revenue growth, which the company attributes to adoption in highly regulated, high-volume payments markets. Management plans to accelerate expansion in the U.S. and other fast-growing markets with the new funding. Simetrik develops financial automation software for CFOs centered on record centralization, reconciliations, controls, reporting and accounting. The company differentiates via Simetrik Building Blocks (SBBs), scalable no-code concepts that leverage generative AI. It moved away from an orchestration platform to focus exclusively on software for finance teams. Simetrik counts customers including Rappi, Mercado Libre, Nubank, Oxxo and PayU, and partners with firms such as Deloitte, while expanding into India and Singapore. Operational metrics improved materially: it now has clients in more than 35 countries, monitors over 200 million records daily (up from 70 million) and has seen revenue grow fourfold since its Series A. The company plans to use new funding to further develop SBBs, enhance AI capabilities and continue international expansion. Simetrik provides a no-code infrastructure that automates reconciliation for finance teams, delivering real-time visibility, traceability and cleaned financial data. The platform is offered as a service and lets finance teams configure a big-data backend via a spreadsheet-like interface without relying on engineering. Simetrik recently added a payment methods orchestrator to let payment services connect directly to multiple payment rails, shortening integration time and cost. The company says it has reconciled $75 billion of TPV per year over the past two years, serves 45 clients across 10 countries and processes transactions in 25 countries, including customers such as Rappi, Mercado Libre, Bancolombia, Clip, Ualá, DLocal, Nubank, Oxxo and PayU. It has been growing ~20% month-over-month over the past year and expects to finish the year with about $10 million in annual recurring revenue. Simetrik is investing heavily in product (over 45% of revenue and funding) and has scaled headcount from 72 employees a year ago to nearly 200, with plans to hire 100 more and expand into EMEA and APAC.

Participated · Series B · Oct 2022

Elenas digitizes traditional catalog and door-to-door sales so independent sellers can browse hundreds of thousands of wholesale products, set markups and promote items via social channels like WhatsApp and Facebook. The company handles product sourcing, delivery and payment collection, and focuses on nonperishable categories such as beauty, personal care, home goods, fashion and electronics. Since launching, more than 100,000 women in Colombia and Mexico have sold over 2 million orders and earned millions of dollars on the platform; Elenas estimates 11 million women in Latin America sell via the traditional channels it is targeting. The company reports revenue grew more than 5x between Series A and Series B and says it has achieved a profitable and sustainable growth model in Mexico, which now represents over a third of its business. Headcount has more than doubled to 230 employees, and the company reaches 600 towns including rural areas not previously served. Plans include scaling the seller network in Colombia and Mexico, investing in engineering and product, and building seller business-management tools, product recommendations, CRM and financial services for an underbanked seller base. Elenas operates a mobile app and backend operating system that lets independent sellers browse a catalog of products (beauty, personal care, electronics) from more than 250 distributors and brands and sell them at marked-up prices via social channels. The company and its distributor partners handle payment collection and delivery, and neither Elenas nor the entrepreneurs hold inventory. Elenas provides automated onboarding and in-app training for sellers and reports it has paid out more than $7 million to its sellers. The platform says it supports tens of thousands of sellers (estimated >95% women; 80% under 30 and about a third without prior direct‑sales experience). Demand has grown amid high unemployment—particularly among women—and reduced in-person shopping during the pandemic. One of the company’s next steps is regional expansion across Latin America, beginning with Mexico and then Peru.

Participated · Series C · Apr 2021

Warren operates a fee-based wealth management platform (the "Warren Model") offering a free savings account, direct-access trading, and goal-based managed portfolios with a flat fee and 100% cashback on third‑party fund commissions. The company also runs Warren for Business, a platform for investment professionals that it aims to scale to 400 partners and to represent 60% of total AUM (currently 20%). Future plans funded by the raise include hiring, technological enhancements, potential M&A, expanding both digital and physical presence, and increasing partner adoption. Warren has invested in a full product suite including currency exchange, life insurance, education, financial planning and offshore services, plus an institutional business launched in 2020. Operating metrics disclosed: the firm grew AUM from R$500 million in 2020 to R$5 billion and employs about 400 people across nine offices. Warren is a digital brokerage platform that provides clients investment advice alongside self-service access to investment products and charges a flat fee on assets under management with no commissions. The platform offers more than 400 products, including seven funds managed by Warren, and has reached 130,000 clients with two billion Reais in managed assets. In spite of COVID-19 and Brazil's financial challenges, Warren has doubled its AUM and increased its employee base by 30%. The company plans to hire 80 additional collaborators by the end of the year and to double its partner network from more than 200 to 400 by December. Warren is developing Warren for Business, a white-label platform to offer partners products and services such as insurance, private pension plans and financial planning. Founded in 2017 in Porto Alegre, the company says it will continue investing primarily in technology to expand its offerings and distribution.

Participated · Equity · Mar 2021

Digital House provides fully online, practice-oriented courses (six months to two years) combining live classes with on-platform videos, quizzes and exercises to teach web and mobile development, data analytics, UX, digital marketing and product development. The company links graduates to jobs and reports an employability rate of over 95%. Since launching classes in March 2016 it has grown rapidly, showing a 118% CAGR in revenues and a 145% CAGR in students; it had 28,000 students in 2020 and projected more than 43,000 in 2021. The 350-person company says it is on track to be profitable this year and has raised over $80 million total since inception. Digital House plans to use new capital to evolve its training platforms, expand career offerings (including e-commerce, data science and cybersecurity), grow partnerships with employers across Brazil and Latin America, and pursue strategic M&A. It will also launch a two-year "Certified Tech Developer" program jointly designed with Mercado Libre and Globant to train and connect thousands of students with tech employers. Digital House provides intensive courses and executive programs in coding, data science, artificial intelligence, UX design, digital marketing, product management and related technical skills. The company offers both individual programs and customized corporate training to equip students and employees for roles in software development, analytics and AI. Based in Argentina, Digital House has grown rapidly and served more than 2,500 students in two years, with graduates moving on to notable technology companies. The founders are Eduardo Bruchou and Nelson Duboscq, who previously founded HSM (now WOBI). Digital House is expanding its campuses in Argentina and plans to launch in Brazil and Mexico in the next year. The company positions itself to address a regional shortage of digitally trained professionals and to scale internationally with the support of new investors.

Participated · Series A · Nov 2020

Pier is a Sao Paulo, Brazil-based full-stack insurance company founded in 2018 and led by co-founder and CEO Igor Mascarenhas. The company uses artificial intelligence to streamline insurance products and claims processing across mobile-phone and auto insurance. Pier built an early business in mobile phone insurance, acquiring roughly 15,000 customers and paying R$5.6 million in refunds to date, and at Carnival 2020 processed a claim in 38 seconds. In 2019 Pier began offering auto insurance, testing an MVP in Belo Horizonte and launching in São Paulo in January 2020. The company intends to use the Series A proceeds to expand its reach in the auto market and is preparing for a Series B in 2021. Pier targets a large opportunity in Brazil, where only about 30% of the auto fleet is insured.