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KaszeK Ventures Leads R$100m Series A in Brazilian Broker Dealer Ideal

21 September 2020

KaszeK Ventures led a R$100m Series A in Ideal, a fully digital Brazilian broker dealer for institutional investors.

(Press Release) Broker dealer Ideal announced today a BRL 100 million funding round led by Kaszek Ventures. This is the largest Series A funding ever received by a Latin American fintech. Investors involved in this round will hold minority shareholder interest in the broker, and the deal awaits Brazilian Central Bank approval.

Ideal was born in 2019 with the goal of providing innovative services in the financial intermediation market. It offers cutting-edge technology for institutional investors and has been profitable from day one. In spite of its brief history, Ideal already ranks among the 3 largest Brazilian brokers in traded volumes. The new capital injection will allow the company to broaden and diversify its customer base and its activities in different segments and products.

“Our initial model has quickly proven to be effective and we have consistently been profitable. The goal of raising capital is to accelerate our growth process and enter new lines of business, in industries where we see potential for efficiency and scale gains through the adoption of our technology,” says Lucas Cury, Ideal’s COO.

Ideal sets itself apart from the institutional market due to its fully digital process, with no human intervention whatsoever – something that usually increases prices and operational risks.

Having achieved acknowledgement and respect in the institutional market, Ideal wants to reach retail customers. “We are currently developing our project for retail investors, always mindful of our mission: to provide the best tech infrastructure, to empower customers and eliminate conflicts of interest by creating a win-win mindset that benefits clients and the service provider. Our achievements so far have shown that our vision is correct,” states Nilson Monteiro, Ideal’s CEO.

Kaszek Ventures is the perfect partner to advance this successful journey. “We were looking for more than an investor: we wanted to build something together. Kaszek was a natural choice. We share the same DNA, the same long term vision and the same culture,” adds Monteiro.

“In a short period of time Ideal was able to transform the way institutional investors trade. Their assumption was proven right, which is evident in their results and in their presence among the 3 largest brokers in Brazil – all of that in less than 18 months. Ideal is also tremendously successful among demanding customers, whether local or international,” says Santiago Fossatti, a partner at Kaszek. “They have an amazing track record, but we know there is still a lot to be done. Kaszek is not looking just for companies: we want to bet in winning teams. Hence our excitement to partner with Ideal for the next steps of this journey.”