Porto Seguro
Rua Barão de Piracicaba, 740, São Paulo, 01216-012, Brazil
Overview
Porto Seguro was founded in 1945 under the name of Porto Seguro Companhia de Seguros Gerais by a group of executives. At the time of its constitution, it operated in insurance and reinsurance of P&C. In 1972, Abrahao Garfinkel, former director of the Boa Vista Insurance Group, acquired control of the company, which then occupied the 44th position in the market ranking. Porto Seguro began its operations with 50 employees and now directly employs 10,000 employees, and 10,000 suppliers through its companies. It has 135 branches and regional offices to serve more than 20,000 brokers and five million customers across the country. It also has a headquarters in Uruguay.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 5
Sector focus
- Auto Insurance
- Insurance
Investment portfolio
- PetLove
Participated · Equity · Aug 2021
Petlove&Co operates an online store and platform for pet products and services, offering subscriptions and express delivery alongside acquisitions and integrations in the pet ecosystem. The company began life as PetSuperMarket after its 1999 founding and has expanded through integrations with DogHero and acquisitions of Vetus and VetSmart, plus the launch of Porto.Pet. During the pandemic Petlove’s subscription service grew substantially and reached 75% of the company’s volume. Petlove reported sales increased by 65% in 2020 versus the prior year and has more than 400 employees. The company plans to use new capital to expand its logistics network and accelerate delivery capabilities, including wider rollout of its four‑hour express service Petlove Já. Overall strategy emphasizes growing subscriptions and building a comprehensive, customer‑centric pet ecosystem in Brazil. Petlove is a Brazilian e-commerce platform selling pet products and is celebrating 21 years of operation. The company offers a wide online assortment aimed at pet owners and is expanding to serve independent veterinarians and local petshops. Petlove is accelerating a partnership with Vet Smart, a digital content and services platform for Brazilian veterinarians, to broaden its offerings and help professionals digitize. Management reports a significant increase in new subscriptions and new customers as more consumers spend time online. With the new investment from L Catterton Latin America, Petlove plans to strengthen its technology, facilitate the offline-to-online transition across Brazil, and pursue more omnichannel experiences. The company says it will focus on expanding its product and service range, enhancing marketing and brand, and growing its customer base across the region. PetLove is an online pet shop that sells a wide variety of pet products and operates an electronic loyalty program (Lover Fidelidade) offering up to 8% progressive discounts and credits. The company announced a strategic investment and a rebrand from PetSuperMarket to PetLove to enter a new growth phase. Management plans to use the funding to expand product assortment, invest in marketing, and strengthen its team and supplier base. PetLove has set a target to grow its user base to 320,000 within three years. The article positions the business within a large Brazilian pet market (estimated at roughly R$14 billion in 2012) and describes the investment as a milestone expected to accelerate expansion. Founder and CEO Dr. Marcio Waldman, a veterinarian, remains a visible company leader driving the e-commerce strategy.