Traive Secures $20M Investment, Aims on Expansion

The fintech startup Traive has successfully raised $20 million in an investment round, with participation from Banco do Brasil and current investors. The bank made its contribution through the BB Impacto ASG I Fund, managed by Vox Capital.

A Pioneering Approach

Traive has developed an artificial intelligence (AI) tool that assesses over 2,500 data points, generating a risk profile analysis more aligned with agribusiness. The methodologies have been reviewed by a technical panel from the prestigious Association for Computing Machinery (ACM) and compared to those currently utilized by the global financial system.

Goals and Expansion Plans

According to Fabricio Pezente, CEO of Traive, the funds will be used to enhance technology, expand operations in Brazil, and launch a credit trading platform between the supply chain and capital markets. “The next step would be to expand to other countries with the aim of consolidating our risk diversification thesis,” Pezente said. Founded in 2017, the startup is headquartered in the United States and operates in Brazil.

The Impact on Banco do Brasil

The bank’s director of digital business, Rodrigo Vasconcelos, suggests that automation solutions and credit risk intelligence based on this technology could accelerate their digital transformation process. He anticipates improvements in banking products and services that support the entire agricultural sector chain, complementing and expanding credit solutions, increasing financing availability, and promoting environmental practices.

According to Vasconcelos, “The contribution aims to generate efficiency and positive impacts in the process of granting agricultural credit and in the productive activity of our clients in the sector.”

The BB Impacto ASG, Banco do Brasil’s corporate venture capital fund managed by Vox Capital, targets startups that generate a positive impact on society and the environment, primarily companies in the Seed and Series A stages.