What is Cora?
Founded in 2019, Cora operates as a licensed financial institution registered with Brazil's Central Bank, providing digital banking solutions tailored for self-employed individuals, small businesses, and medium-sized enterprises. The platform offers a comprehensive suite of financial products, including free digital business accounts, debit and credit cards, unlimited Pix transfers, invoice issuance and management, automated billing notifications, and robust expense tracking tools. Cora aims to eliminate the bureaucracy and excessive fees that often hinder small businesses, offering entrepreneurs a streamlined, modern service to manage all financial operations in one centralized location, thereby simplifying finance management and separating business from personal transactions.
How much funding has Cora raised?
Cora has raised a total of $142.7M across 2 funding rounds:
Series A
$26.7M
Series B
$116M
Series A (2021): $26.7M with participation from QED Investors, Ribbit Capital, Kaszek Ventures, and GREENOAK CAPITAL MANAGEMENT( NORTH AMERICA
Series B (2021): $116M led by QED Group, Ribbit Capital, GREENOAKS, Tencent, Tiger Global, and Kaszek Ventures
Key Investors in Cora
QED Investors
QED Investors is a global venture capital firm specializing in early-stage, disruptive financial services companies, with a focus on Latin America. Their hands-on approach leverages deep entrepreneurial experience to foster breakthrough growth.
Ribbit Capital
Ribbit Capital is a venture capital firm that invests globally in unique individuals and brands aiming to disrupt financial services, particularly supporting entrepreneurs building the future of finance.
Kaszek Ventures
Kaszek Ventures is a venture capital firm dedicated to partnering with exceptional tech entrepreneurs in Latin America, providing capital and expertise to drive innovation in technology-driven industries.
What's next for Cora?
With its recent major strategic investment, Cora is poised for accelerated growth and enhanced service offerings. The substantial capital infusion, following previous rounds, indicates a strong investor confidence in Cora's business model and its potential to disrupt the traditional banking sector in Brazil. This funding will likely be directed towards expanding its technological infrastructure, enhancing its product suite with more advanced financial management tools, and potentially broadening its market reach within Brazil and possibly other Latin American markets. The company's focus on simplifying financial operations for SMEs positions it well to capture a significant share of this underserved market.
See full Cora company page
