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Trace Finance Announces $4.3 Million Seed Investment To Disrupt Global Banking For Latin American Startups

Feb 15, 2022•over 3 years ago

Amount Raised

$4.3 Million

Round Type

seed

Sao Paulo

Description

Trace Finance, a Brazilian fintech startup that enables faster and more streamlined cross-border banking for startups, has announced a $4.3 million seed funding round. The investment is led by HOF Capital (investors in Dapper Labs, Terra, Flutterwave, and SpaceX) with participation from Circle Ventures (the company behind USDC - a leading USD-pegged stablecoin with a $50 billion fully diluted market cap), The Chainsmokers (via their fund Mantis VC), and others. Seed funds will be used to expand the company's seamless global banking solution for startups, beginning with the US and Brazil.

Company Information

Company

Trace Finance

Location

Sao Paulo, Sao Paulo, Brazil

About

Trace Finance is a fintech platform founded in early 2021 by Bernardo Brites, Rafael Luz, and Leone Parise, who have extensive experience in crypto and fintech businesses. The company is based in São Paulo, Brazil and works with startups and investors to improve the experience of moving money across borders and enables them to have a seamless banking experience in each of the jurisdictions they operate in, with an interconnected financial platform. The founding team has successfully scaled prior businesses such as Binance, Trust Wallet and Decred. The company has backing from HOF Capital, Stellar Ventures, Circle Ventures, Mercado Bitcoin and The Chainsmokers (Mantis VC).