BASF Venture Capital GmbH (BVC), the venture capital arm of BASF SE, makes its first direct investment in South America, leading a $10 million investment round in financial services provider TraiveTM, founded in 2018 Based in Brazil and
In the United States, Traive develops technological infrastructure for financial services and artificial intelligence for credit risk analysis and portfolio management.
In Brazil, as in other South American countries, agriculture is one of the most important economic segments. In 2022, the agricultural sector will represent 27.4% of Brazil’s gross domestic product. According to a study (“Radar Agtech Brasil 2020/2021”), the number of startups in the agricultural sector increased by 40% in 2021 compared to 2019 to reach a total of 1,574.
Along with the growing scene of AgTech startups, financial service providers specializing in the agriculture industry are gaining prominence. Traive is a financial platform that digitizes the entire agricultural credit journey – from the farmer’s application to the financial market – and reduces the effort required to obtain and manage loans. Proprietary technology enables crop protection product manufacturers, traders, farmers, cooperatives and trading companies to review, register, manage and trade their loans on a single platform.
Additionally, AI generates immediate risk assessment that helps credit managers, banks, and FinTechs make more targeted and dynamic decisions, reduce costs, and mitigate financial risk through real-time tracking. actual credit portfolio risk.
Markus Solibieda, Managing Director of BASF Venture Capital GmbH, says: “We are proud of our first direct investment in South America. This underscores our mission to foster new business models and innovation to address today’s challenges in the chemical industry as well as increasingly complex agriculture.”
“Both Traive and BASF aspire to drive digitalization in agriculture and to be business partners for the entire value chain, i.e. for industry, cooperatives, retailers and farmers. We look forward to exploring our synergy potential together,” adds Karime Hajar Alves, Chief Investment Officer. at BASF Venture Capital in South America.
“Our technology platform has the potential to fundamentally change the way credit and risk are measured, monitored and marketed in the agriculture industry. The commitment of BASF Venture Capital and the combination of institutional and strategic investors in this round gives us a tailwind,” says Fabricio Pezente, co-founder and CEO of Traive.
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