Brazilian personal finance platform, GuiaBolso has raised $40 million in a series D funding.
Of the amount, investment firm, Vostok Emerging Finance (VEF) invested $30 million, for which they will own a minority stake in the company as well as hold a position on its board. Other investors include Endeavor Catalyst, Ribbit Capital and International Finance Corporation.
Based in Sao Paulo, Brazil GuiaBolso is a PFM app for local Brazilians, offering financial management tools, credit reports, investment products and education tools. It was founded in 2012.
According to a statement by GuiaBolso founder, Benjamin Gleason:
Only GuiaBolso aggregates and organizes user bank transaction data to automate the process of tracking spending and contracting curated financial products right on your phone. With this investment, we will expand the reach of our financial hub well beyond our current 3.5 million users and provide real-time access to additional products to accompany our existing credit offerings.
Read more at GlobeNewswire and TechCrunch.