Data Rudder Raises R$10 Million in Series A Round

Data Rudder, a techfin startup specializing in fraud prevention for PIX transactions, has raised R$10 million in its Series A funding round. The round was led by L4 Venture Builder, an independent investment fund established by B3 in 2022. BTG Pactual, who had previously invested in the company through their acceleration program, boostLAB, also participated in the round.

Previous Investment and Growth

In the previous year, Data Rudder received R$3.1 million from Sinqia, a leader in technology and innovation for the Brazilian financial sector, through their Corporate Venture Capital program, Torq Ventures.

Founded in Florianópolis, SC, in 2018 by Rafaela Helbing and Thais Nolasco, Data Rudder has developed a specialized solution to mitigate the risk in Pix operations. The company has seen a significant growth; their revenue increased by more than 370% from 2022 to 2023.

Fraud Impact and Prevention

According to the Central Bank, the volume of instant transactions has already surpassed the sum of payments made via debit card, ticket, TED, DOC, and checks. In 2022, PIX was targeted by fraudsters with scams affecting over 20% of the population.

Data Rudder’s system works with specific algorithms for each client, allowing it to adapt to the unique fraud modalities of each company. CEO Rafaela Helbing states that their technology can detect up to 78% of so-called “orange accounts” - bank accounts created for fraud, and up to 80% of PIX frauds, with a 99% approval rate.

Future Plans

With the Series A funding, Data Rudder is preparing to scale operations. Their growth strategy is based on strengthening the brand and expanding the team. The addition of L4 Venture Builder to Data Rudder’s cap table reinforces the company’s action and expansion plan. COO Thais Nolasco expresses their intent to recruit new professionals, especially in the development area, with a focus on maintaining the quality and culture that has been built so far.