Brazilian challenger Stark Bank raises $45m funding
Brazilian financial services challenger Stark Bank has received a $45 million investment led by Ribbit Capital, Lachy Groom and Amazon founder Jeff Bezos’ firm Bezos Expeditions, according to Reuters.
Stark Bank raises $45m
A number of angel investors also took part in the investment round, Reuters reports, and the cash will go towards building out the fintech’s product portfolio.
Stark Bank, named for its founder and CEO Rafael Stark, focuses on high-growth start-ups and enterprises in Brazil. “Everything we do is to empower companies and entrepreneurs to challenge the status quo and change Brazil for the better through technology,” Stark Bank says.
The challenger provides technology for companies of all sizes to scale their operations, allowing them to execute more transfers, payments and charges. It currently has more than 300 customers including Quinto Andar, Loft, Buser and Bitso.
Stark Bank’s latest investment comes four months after it raised $13 million from venture capital investors in a Series A round, which saw participation from VC firms K5 Global, Iporanga Ventures and Norte Ventures.
