Magnetis raises $11 million for its automatic wealth management and brokerage service for Brazil

Magnetis raises $11 million for its automatic wealth management and brokerage service for Brazil

Magnetis, an automated wealth management service for Brazilian investors, has raised$11 million in a brand-new round of financing as it transforms itself into a full-service brokerage for the nation’s financier class. Financiers in the round included Redpoint eventures and Vostok Emerging Financing, the company stated.”We’re quite delighted with this vote of self-confidence from our financiers. […]
The company said it planned to hit more than 1 billion reals by the end of 2021. Fintech in Latin America is a booming investment category, with business like Nubank skyrocketing increasing multi-billion-dollar valuationsEvaluations and accounting for 22 %of all Latin American fintech startups. “Our model for digital properties management and wealth creation is much more complete and advanced. …