API FinTech, SWAP, Raises Seed Funding with ONEVC | Zoom Fintech
Don’t worry, we are discussing: Spanish (Spanish), too much!
Contxto – Brazilian SWAP is the newest developer of fintech APIs to raise equity capital.
This week, ONEVC presented that he alongside GFC, Flourish Ventures, ab Seed, the Aid Fund, and SOMA made seed funding within the startup for an undisclosed amount. Various business angels such as Brad Flora (partner at Y Combinator) and Patrick Sigrist (co-founder at iFood) also contributed.
Why it’s such a giant deal: Brazil’s open banking laws are expected to start being enforced later this year. Therefore, investments in startups working with APIs will eventually grow.
Course on the financing of ONEVC in SWAP
In a press release, ONEVC was kind enough to share his motivations for betting on SWAP. Here’s a look at what Enterprise Capital (VC) had to say:
APIs are easy to promote: Once a fintech or bank purchases the corresponding API tokens, their builders simply use the documentation to start connecting all the software. This means that the process of acquiring buyers is less complicated and more profitable.
A large market without surveillance: Fintechs are appearing all over Brazil (and Latam). However they demand “someone who speaks their language” and who respects them must develop their merchandise. Something that emerging API builders like SWAP can accomplish.
Ladder, ladder, ladder: Seems slightly apparent doesn’t it? For ONEVC, fintechs have a lot of development potential as they are, so once they are scaled up, so will their API option needs.
It’s good to be fundamental: APIs are the backbone of the commodity of many fintechs. Thus, by investing in startups that work with this know-how, the investor believes that he would have a central place in your complete fintech ecosystem.
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Finally, judging by the companies in ONEVC’s portfolio, it’s easy to see that he likes startups that have qualified founders. She has already invested in companies with seasoned management both having held high-level positions or having founded various startups.
In the case of SWAP, two of its three co-founders, Douglas Storf and Ury Rappaport, were part of the administrative staff of carpooling platform 99. In the meantime, Alexandre Takinamini was technical co-founder at edtech GuiaBolso.
Related articles: Tech and startups from Brazil!
-ML