14 February 2024
Gorila receives more than R$ 100 million in a Series B round and expands its operations by acquiring minority stakes in investment
Iporanga, Ribbit, Apis Insurtech Fund I, monashees and 2TM participated in the fintech’s new fundraising Series B round
Gorila, the first investment consolidation and control platform in Brazil, has received more than R$ 100 million in a Series B round, which included venture capital funds including Ribbit, Apis Insurtech Fund I, managed by Apis Partners LLP, and Brazilians Iporanga, monashees and 2TM. Three of these players (Ribbit, Iporanga and monashees) had already participated in the previous round of fundraising, held in 2019, which raised R$ 35 million.
Part of the capital injection will be used in technology, product, team and business growth – both organically and through acquisitions.
Another significant part of these proceeds will be allocated to Gorila’s strategy of becoming a minority partner in investment advisory companies with great potential that share their market vision.. The intention is to help these companies unlock value with capital, governance, technology and know-how from digital channels and industry best practices. In following this strategy, the fintech firm has recently become a partner of Vita Investimentos, an investment advisory company founded in 2016 by Ricardo Guimarães Filho. Vita Investimentos has a presence in Brazil and the United States, over R$1.5 billion in assets under advisory and approximately 100 families as clients.
“We are not a broker or bank and we don’t want to compete with them. On the contrary, we are going to help bring customers to those who have the best products and prices. We are partnering with independent advisory companies and advisory companies tied to brokers. The important thing, in our view, is that those firms put their clients’ interests first, that’s where the long-term value comes from.” explains Guilherme Assis, CEO and founder of Gorila.
Gorila was created in 2016 by Guilherme Assis, Robinson Dantas and Leo Kalim who, having extensive experience in the investment markets, identified the demand from investors and market agents for more clarity and more information about their portfolio as a whole. The fintech operates in both the B2B (advisory companies) and B2C (individual investors) segment, as both fronts are part of the investment distribution market and are complementary to each other. Its success is due to its independence and ability to give people a global view of their investments, even if they are allocated with different institutions. Other players in the financial sector generally restrict access to such information, making it difficult to understand the entire portfolio.
“We were born with a technology DNA and the mindset of open finance, long before these topics were hot in Brazil. We always believed that the standardization and sharing of data with the authorization of customers was an inevitable revolution, that’s why we are already fully prepared for this new world, and excited about what is to come”, says Assis.
With the arrival of open finance, the investing experience will be more customized; in addition, the role of investment advisory companies will be even more relevant, as they will have more tools to understand their clients and scale their operations, improving service and forging relationships. “To name a few possibilities: portability of investments between institutions with one click, automatic portfolio rebalancing carried out between different institutions, and the opening of accounts automatically with money transfer and investment execution, the equivalent of a ‘one click buy’ Amazon for the investment market”, summarizes the executive.
With more than 500,000 users and more than 100 investment advisory companies that use its services, the fintech’s goal is to reach 1 million individual clients and more than 300 investment advisor companies in 2022.