Investment roundup: NTT’s Brazil M&A, Minsait CentAm deal, Bricksave in UK and more

NTT Data Business Solutions, a consultancy subsidiary of Japanese multinational NTT Data, reached an agreement to acquire Brazilian company Aoop, a company specializing in the ServiceNow business automation platform.

The acquisition adds more than 120 clients to NTT Data's portfolio. The transaction values were not disclosed. With the deal, which is still pending antitrust approval, NTT Data said it will become a leader in ServiceNow across Latin America.

"With the acquisition of Aoop, we will significantly increase our competitiveness in Brazil and enhance synergy with other operations in Latin America and the United States, accelerating our growth in the region," NTT Data said in a release.

Founded in 2017, Aoop serves clients across different verticals, with a focus on accelerating automated digital strategies. Its customers include airline Azul, biofuel company Raízen, and fintech Quod.

Minsait buys SAP expert in Central America

Minsait, the digital transformation and IT company of Spanish group Indra, closed a deal to acquire MQA, an integrator of SAP business management solutions focused on Central America.

MQA’s operations are mainly concentrated in Colombia, as well as Panama, Costa Rica, Honduras, El Salvador and Guatemala and parts of the Caribbean. Investment values were not disclosed.

“MQA is the best-positioned Latin American company in SAP business management. With this acquisition, we will be able to extend our expertise to the clients we already serve in the region and strengthen our local digital businesses, especially those focused on cloud services,” said Minsait CEO Luis Abril.

Bricksave enrolls new M&A

Bricksave, a real estate tech company founded by Argentine executive Sofía Gancedo, reached an agreement to acquire UK-based investment firm Alte Investments.

The transaction still needs clearance by UK’s Financial Conduct Authority (FCA). This is Bricksave’s second acquisition in a year, adding to that of Colombian proptech Macondo last October. 

With the deal, Bricksave aims to consolidate itself “as the largest pan-Latin-European real estate investment platform." The company reports investments of more than US$350mn to date.

Canastra Ventures in AI hunt

Brazilian fund Canastra Ventures opened a call for an acceleration program aimed at AI startups.

Applications close on November 15. The program has a term of 20 weeks and startups will receive support from the fund's partners, access to Canastra's tools and methodology and connect to potential investors, said the VC group.

At the end of the program, companies will be able to participate in a pitch session, where they will have the chance to receive their first investment.

Ukraine’s Softserve wins funding for Chile project

Ukrainian IT multinational Softserve was among the firms awarded a grant by Chilean economic development agency Corfo to develop projects in Chile’s Ñuble region.

The funding was granted via the Integrated Development Instrument (IFI), which co-finances up to 30% of projects worth at least US$2mn.

Founded 30 years ago, Softserve develops cloud, big data, AI and cybersecurity projects. According to Corfo, the company aims to create a hub for services and software “Made in Ñuble", having committed to investments of more than 5bn pesos (US$5.3mn) in the region.

In addition to SoftServe, other selected firms were local firms and agribusiness-focused vZion Cloud, Ingeniería y Construcciones Mañío SpA and Chilean firm Marroni Frozen. 

Warburg Pincus invests US$125mn in Brazil’s Contabilizei

With US$125mn in an equity investment, NY-based asset manager Warbus Pincus became the largest shareholder of Brazilian fintech Contabilizei.

Pincus acquired stakes from venture capital funds that have invested in Contabilizei since 2014, including Kaszek.

The fintech, founded in 2013, automates accounting services focusing on small businesses and freelancers. It claims to have over 50,000 clients and annual revenues of more than 300mn reais.

Montreal launches fund for early-stage startups

Brazilian technology group Montreal launched a 30mn-real (US$5.3mn) fund to invest in early-stage startups through its newly created corporate venture capital (CVC) platform, Montreal Ventures.

The investments will be made strategically, seeking synergy between startups and Montreal's businesses, and focusing on pre-seed and seed firms.

Founded in 1986, Montreal offers IT infrastructure solutions, cloud hosting services and biometric solutions, among others. The company has developed projects for Banco do Brasil, Caixa, Cemig and Detran, among others.

AsaaS raises US$125mn in Series C

Another Brazilian fintech, Asaas, raised 820mn reais in a Series C investment round led by the BOND fund with participation from Softbank, 23S Capital and Endeavor Catalyst.

The proceeds will be used in R&D, product development and new acquisitions, the company said. Asaas said it is preparing for an IPO "soon."

The company aims to surpass 1bn reais in annual revenues by 2026 and 2bn reais by 2027. For 2024, the forecast is 400mn reais and 180,000 customers.