Better Tomorrow Leads USD3.6m Seed Round for Brazilian Financing Platform Divibank
12 May 2021
Better Tomorrow led a USD3.6m seed round for Divibank, a Brazilian revenue-based financing platform for startups and SMEs, with participation from Village Global, Clocktower Ventures, Magma Partners, Gilgamesh Ventures, Rally Cap Ventures, Alumni Ventures Group, Kairos Angels, Sebastian Mejia (Rappi), and Kari Atiyeh (Ramp), and follow-on from MAYA Capital.
(TechCrunch) – Divibank, a financing platform offering LatAm businesses access to growth capital, has closed on a $3.6 million round of seed funding led by San Francisco-based Better Tomorrow Ventures (BTV).
São Paulo-based Divibank was founded in March 2020, right as the COVID-pandemic was starting. The company has built a data-driven financing platform aimed at giving businesses access to non-dilutive capital to finance their growth via revenue-share financing.
“We are changing the way entrepreneurs scale their online businesses by providing quick and affordable capital to startups and SMEs in Latin America,” said co-founder and CEO Jaime Taboada. In particular, Divibank is targeting e-commerce and SaaS companies although it also counts edtechs, fintechs and marketplaces among its clients.
Read more at TechCrunch.