December 2025 had a very specific smell: less champagne-sprayed “to the moon” energy, more cold-eyed capital allocation with a side of AI seasoning. The list still has the usual startup zoo—voice agents, stablecoins, CRM, cloud, healthcare automation, and at least one company trying to make death planning sound user-friendly—but the real pattern is that bigger checks went to businesses with either institutional gravity or a story investors could explain without needing a 47-slide TAM deck.
In other words, December was not a month for cosplay venture. It was a month for grown-up rounds: late-stage companies proving they can still raise, breakout seeds pulling in brand-name funds, and a few category bets where the syndicate tells you more than the press release ever will. The market may still adore buzzwords, but this file suggests investors were at least pretending to read the fundamentals again—and, for once, some of them probably did.
1. Creditas — Series G, USD 108M
This is the deal of the month, full stop. The round size is massive by any local standard, and the funding history reads like a greatest-hits album of LatAm fintech capital: Kaszek, QED, IFC, Prosus, SoftBank, Lightrock, Fidelity, and now another large round led by Andbank after it had already backed the 2022 Series F. That matters because this is not a speculative “AI for left-handed dentists” story; Creditas is one of the ecosystem’s true scaled fintech franchises, and a USD 108M Series G says serious investors still believe there is real enterprise value left to compound here. In ecosystem terms, this is the kind of round that reminds everyone that maturity is not a dirty word—especially when the cap table looks like an invite-only Davos side event.
2. Rivio — Seed, USD 18.1M
A Seed round this large does not whisper; it kicks the door in. Rivio stands out because the check size is huge for the stage, and because Monashees and Valor Capital Group leading together instantly upgrades the signal quality, with Endeavor and Scale-Up Ventures reinforcing the syndicate. The company is attacking hospital management, waste reduction, and revenue cycle automation—exactly the kind of messy, expensive operating problem where software can create real value and where AI has more to do than merely write quirky LinkedIn posts. For the market, Rivio matters because it shows top-tier capital is still willing to underwrite ambitious healthcare infrastructure plays when the problem is painful enough and the founders make the math look credible.
3. EVEO Enterprise Cloud — Venture round, USD 18.27M
EVEO is the sort of deal that may not dominate cocktail-party chatter but absolutely deserves editor attention. The round is large, the company sits in a real infrastructure layer—enterprise cloud and telecom services—and the lead is XP Asset Management, which gives the financing a more institutional flavor than the average early-stage raise. There is less visible prior-round color in the file than with some other companies, but sometimes the number itself tells the story: USD 18.27M is not angel-money dressed in a blazer. This matters for the ecosystem because it suggests investors are still willing to fund foundational picks-and-shovels businesses, not just whatever can squeeze “agentic AI” into the first sentence of the pitch.
4. Crown — Series A, USD 13.5M
Crown makes the cut because this is where size, momentum, and pedigree line up almost suspiciously well. It raised USD 8.1M just two months earlier at Seed from Framework Ventures, with Coinbase Ventures, Paxos, Norte Ventures, and Valor Capital Group in the round, then followed with a USD 13.5M Series A led by Paradigm. That is not ordinary progression; that is the market saying, “we see something here, and we’d like to own more of it before everyone else catches up.” The company’s relevance goes beyond crypto fashion: a BRL-backed stablecoin issuer with compliance and liquidity as the pitch is pointed directly at a real financial infrastructure gap. This is one of the month’s clearest “small company, very big signal” rounds—and yes, when Paradigm shows up, people suddenly rediscover a philosophical interest in stablecoins.
5. Skyone — Series C, amount undisclosed
Undisclosed rounds are often the venture equivalent of wearing sunglasses indoors, but Skyone still belongs in the top five because the lead investor is Advent International and the company has a long, credible financing history from Series A through multiple Series B rounds. When a global heavyweight like Advent leads a Series C, you do not need the exact number to know the company has crossed into a different class of relevance. Skyone matters because it is a reminder that enterprise software and cloud infrastructure can still produce late-stage conviction in Brazil, especially when the business has shown enough durability to attract both strategic and institutional money over time. Translation: not every big outcome has to come wrapped in fintech swagger or crypto vocabulary.
One near-miss worth noting is Clara: the December round itself is tiny, but the company’s broader funding history—General Catalyst, DST, Coatue, Kaszek, Monashees, Citi Ventures, GGV—remains elite. It did not make the top five because this exercise is about the month’s most relevant deals, not just the most famous names in the file. Still, whenever a company with that kind of cap-table gravity appears, even in miniature, the market pays attention.
December Deals
2025-12-26 / Beegol / Venture – Series Unknown
Beegol is an AI Platform Delivering Real-Time Network Monitoring, Diagnostics and Self-Healing for Global ISPs
Lead Investors: Plug and Play
Previous Rounds
2025-01-16 / Venture – Series Unknown
Lead Investors: BTG Pactual
2024-05-17 / Venture – Series Unknown / USD 195,898
Lead Investors: BoostLAB
2022-01-28 / Series A / USD 2,049,137
Lead Investors: Indicator Capital
2025-12-23 / Hablla / Seed
Hablla is a conversational marketing and CRM platform unifying omnichannel business communication.
Lead Investors: Bossa Invest
Previous Rounds
2024-04-12 / Seed / USD 166,064
Lead Investors: Bossa Invest
2025-12-22 / Clara / Venture – Series Unknown / USD 267,568
Clara is a spending management company that provides an end-to-end spend management platform for businesses.
Lead Investors: Gaingels / Investors: Gaingels, Sahin Boydas
Previous Rounds
2025-04-29 / Venture – Series Unknown / USD 40,000,000
Lead Investors: Citi Ventures / Investors: Citi Ventures, Citius, Coatue, DST Global, Kaszek, MONASHEES, Notable Capital, Pathlight Ventures
2024-12-31 / Venture – Series Unknown
Lead Investors: Michele Attisani
2024-04-16 / Venture – Series Unknown / USD 3,500,000
Lead Investors: General Catalyst / Investors: Adapt Ventures, Canary, General Catalyst, Picus Capital
2023-04-26 / Series B / USD 60,000,000
Lead Investors: GGV Capital / Investors: Acrew Capital, Alter Global, Bayhouse Capital, Citi Ventures, Citius, Coatue, Commerce Ventures, DST Global, Endeavor Catalyst, Ethos VC, Evolution Ventures, Fluent Ventures, General Catalyst, GGV Capital, Goanna Capital, Grey Wolf, Lago Innovation Fund, MONASHEES, Picus Capital
2021-12-06 / Series B / USD 70,000,000
Lead Investors: Coatue / Investors: Adapt Ventures, Alter Global, Avid Ventures, BoxGroup, Coatue, DST Global, Gaingels, General Catalyst, Global Founders Capital, ICONIQ Growth, MONASHEES, Picus Capital, Sahin Boydas
2021-07-21 / Series A / USD 5,000,000
Lead Investors: Andy Cohen / Investors: Andy Cohen, Antonia Rojas Eing, Ariel Lambrecht, Brendan Dickinson, Brynne Rojas, Daniel Vogel, Deepak Chugani, German Peralta, Hans Tung, Howard Han, Manolo Atala, Max Burger, Michael Levinthal, Oliver Jung, Philippe Teixeira da Mota, Picus Capital, Ricardo Weder, Sebastian Castro, Sebastian Kreis, Sebastian Mejia, Sebastian Villarreal, Sergio Furio
2021-05-26 / Series A / USD 30,000,000
Lead Investors: DST Global / Investors: Alter Global, Avid Ventures, DST Global, General Catalyst, Kaszek, MONASHEES
2021-03-10 / Pre-Seed / USD 3,500,000
Lead Investors: General Catalyst / Investors: Adapt Ventures, Alejandro Galvez, Brian Requarth, Canary, David Vélez, Eric Glyman, General Catalyst, Global Founders Capital, JAM Fund, Justin Mateen, Karim Atiyeh, Liquid 2 Ventures, Nicky Goulimis, Picus Capital, Soma Capital, SV Angel, Travis Foxhall, VentureSouq
2020-05-01 / Pre-Seed
Lead Investors: Liquid 2 Ventures
2025-12-19 / Navigare / Angel
Navigare is a LogTech that provides smart solutions for business processes like transportation, logistics, Supply Chain, and Storage.
Lead Investors: Anjos do Brasil
Previous Rounds
2023-07-20 / Pre-Seed / USD 150,000
Lead Investors: Antler
2025-12-18 / Rivio / Seed / USD 18,114,301
RIVIO is an AI platform that integrates, monitors, and automates the hospital management cycle, reducing waste and accelerating revenue.
Lead Investors: MONASHEES, Valor Capital Group / Investors: Endeavor, MONASHEES, Scale-Up Ventures, Valor Capital Group
2025-12-17 / Plain / Pre-Seed / USD 307,865
Plain is an AI-driven investment management with tax and succession solutions for everyday investors.
Lead Investors: Urca Angels
2025-12-17 / LastWish / Seed / USD 1,810,971
LastWish helps families securely plan their legacy by preserving messages, organizing documents, and providing directions for the future.
Lead Investors: SRM Ventures
Previous Rounds
2024-01-01 / Seed / USD 30,903
Lead Investors: Bossa Invest / Investors: Bossa Invest, FCJ Venture Builder
2025-12-16 / Guarda / Pre-Seed / USD 816,578
Guarda provides parametric insurance against extreme weather events, using satellite data to protect farmers and agribusinesses.
Lead Investors: Randon Ventures / Investors: Alan Chusid, Colligo, Johann von Sothen, José Kfuri, Randon Ventures, Rodrigo Botti
2025-12-16 / Gedanken / Venture – Series Unknown / USD 2,177,542
Gedanken uses AI, big data and machine learning solutions for risk mitigation, supplier approval process and onboarding process automation.
Lead Investors: Citrino Ventures / Investors: ABSeed Ventures, Caravela Capital, Citrino Ventures
Previous Rounds
2021-10-28 / Seed / USD 708,466
Lead Investors: Caravela Capital / Investors: ABSeed Ventures, Caravela Capital
2025-12-12 / Revena / Seed / USD 7,380,891
Revena is a brazilian tech consultancy connecting companies with elite tech consultants and solutions.
Lead Investors: Canary / Investors: Canary, Caravela Capital, FJ Labs, Flourish Ventures
2025-12-12 / FlowCredi / Pre-Seed / USD 645,828
FlowCredi runs a marketplace that links lenders and borrowers and provides credit products backed by real estate.
Lead Investors: Norte Ventures, VERVE CAPITAL / Investors: Gabriel Lacombe, Leandro Abreu, Norte Ventures, Patrick Sigrist, Rafael Duton, VERVE CAPITAL
2025-12-12 / Talqover AI / Pre-Seed
AI voice agents for outbound and inbound calls that activate CRM leads and automate sales and support conversations.
Lead Investors: WOW Aceleradora
2025-12-10 / Caveo / Series A / USD 6,213,223
Caveo is a digital platform that specializes in financial and accounting solutions for doctors.
Lead Investors: Zenda / Investors: Endeavor Brasil, Enseada Family Office, Norte Ventures, ONEVC, Saison Capital, Valutia, Zenda
Previous Rounds
2025-02-06 / Seed / USD 3,444,890
Lead Investors: ONEVC / Investors: Kortex Ventures, Norte Ventures, ONEVC, Zenda
2024-06-13 / Seed / USD 372,940
Lead Investors: Afya
2024-04-01 / Pre-Seed
Lead Investors: N/A
2025-12-10 / EVEO Enterprise Cloud / Venture – Series Unknown / USD 18,274,186
EVEO Enterprise Cloud is a telecommunication service providing company.
Lead Investors: XP Asset Management
2025-12-09 / Morada.ai / Series A / USD 3,127,875
SaaS company building Artificial Intelligence products for the Real Estate Industry
Lead Investors: Parceiro Ventures
Previous Rounds
2024-10-07 / Venture – Series Unknown / USD 1,091,822
Lead Investors: N/A
2022-12-05 / Pre-Seed / USD 624,858
Lead Investors: N/A
2021-06-05 / Angel / USD 505,072
Lead Investors: N/A
2025-12-08 / Crown / Series A / USD 13,500,000
Crown is a fintech focused on the Issuer of BRLV, a BRL-backed stablecoin built for safety, liquidity, and compliance.
Lead Investors: Paradigm
Previous Rounds
2025-10-14 / Seed / USD 8,100,000
Lead Investors: Framework Ventures / Investors: Coinbase Ventures, Edward Wible, Framework Ventures, Norte Ventures, Paxos, Valor Capital Group
2025-12-08 / Klubi / Series A / USD 5,891,016
Klubi is a fintech company that provides credit facilities in a simple, transparent, secure and truly digital experience.
Lead Investors: Cyrela Brazil Realty / Investors: Cyrela Brazil Realty, L4 Venture Builder, Patria Investments
Previous Rounds
2024-12-09 / Series A / USD 7,401,072
Lead Investors: L4 Venture Builder, Vivo Ventures
2022-12-22 / Venture – Series Unknown / USD 5,805,852
Lead Investors: Vivo Ventures / Investors: Guilherme Bonifacio, Igah Ventures, Paulo Veras, Vivo Ventures
2021-10-05 / Seed / USD 5,933,905
Lead Investors: Igah Ventures, Parallax Ventures / Investors: Guilherme Bonifacio, Igah Ventures, Parallax Ventures
2019-01-01 / Angel
Lead Investors: N/A
2025-12-05 / Skyone / Series C
One Platform. Endless possibilities.
Lead Investors: Advent International
Previous Rounds
2024-02-23 / Series B / USD 12,000,000
Lead Investors: Bewater / Investors: Airborne Ventures, Bewater
2023-02-28 / Venture – Series Unknown / USD 15,141,101
Lead Investors: Invest Tech
2021-06-01 / Series B / USD 10,000,000
Lead Investors: Banco Bradesco
2021-05-06 / Series B / USD 8,527,896
Lead Investors: InovaBRA
2018-01-05 / Series A / USD 6,968,857
Lead Investors: Invest Tech
2025-12-04 / Mission Brasil / Seed / USD 2,447,842
Mission Brasil provides digital outsourcing platform for business development.
Lead Investors: Headline / Investors: DOMO.VC, Headline
Previous Rounds
2023-09-20 / Seed / USD 1,393,357
Lead Investors: DOMO.VC, Headline
2025-12-04 / Combio Energia / Private Equity / USD 45,000,000
Combio Energia is a Green energy supplier.
Lead Investors: SPX Capital / Investors: KFW DEG, SPX Capital
Previous Rounds
2023-09-05 / Private Equity
Lead Investors: Lightrock, SPX Capital
2025-12-03 / Lastlink / Series A / USD 5,275,355
Lastlink is an application which helps to monetize private and Telegram groups through subscription.
Lead Investors: Astella / Investors: Astella, BTG Pactual, Scale-Up Ventures
Previous Rounds
2023-03-30 / Seed
Lead Investors: BoostLAB
2021-07-01 / Pre-Seed / USD 1,400,000
Lead Investors: Canary / Investors: Canary, Graph Ventures, Gustavo Caetano, Israel Salmen, Marcela Rezende
2025-12-01 / The Led / Private Equity / USD 28,000,224
THE LED delivers complete packages with implementation, support, and multi‑sector applications in LED panel solutions.
Lead Investors: Kinea Investimentos Ltda
2025-12-01 / Creditas / Series G / USD 108,000,000
Creditas is a consumer loaning startup that operates a digital platform providing secured loans and low interest rates.
Lead Investors: Andbank
Previous Rounds
2022-07-07 / Series F / USD 50,000,000
Lead Investors: Andbank
2022-07-07 / Convertible Note / USD 150,000,000
Lead Investors: N/A
2022-01-25 / Series F / USD 260,000,000
Lead Investors: Fidelity / Investors: Actyus, Fidelity, Greentrail Capital, Headline, Kaszek, Lightrock, QED Investors, SOFTBANK Latin America Ventures, SoftBank Vision Fund, Sunley House Capital Management, VEF, Wellington Management
2020-12-18 / Series E / USD 255,000,000
Lead Investors: Lightrock / Investors: Amadeus Capital Partners, Headline, Kaszek, Lightrock, SOFTBANK Latin America Ventures, SoftBank Vision Fund, Sunley House Capital Management, Tarsadia Investments, VEF, Wellington Management
2019-07-10 / Series D / USD 231,000,000
Lead Investors: SoftBank / Investors: Amadeus Capital Partners, Mouro Capital, SoftBank, SoftBank Vision Fund, VEF
2017-12-11 / Series C / USD 50,000,000
Lead Investors: VEF / Investors: Amadeus Capital Partners, Bossa Invest, Endeavor Catalyst, International Finance Corporation, Kaszek, Mouro Capital, Prosus, QED Investors, Quona Capital, VEF
2017-02-21 / Series B / USD 19,000,000
Lead Investors: International Finance Corporation, Prosus / Investors: International Finance Corporation, Kaszek, Prosus, QED Investors, Quona Capital, Redpoint eventures
2016-06-20 / Series A / USD 4,500,000
Lead Investors: Kaszek, Redpoint eventures / Investors: Kaszek, QED Investors, Quona Capital, Redpoint eventures
2015-08-03 / Series A / USD 3,000,000
Lead Investors: Redpoint eventures / Investors: Headline, QED Investors, Quona Capital, Redpoint eventures
2013-10-18 / Seed / USD 1,400,000
Lead Investors: Napkn Ventures / Investors: Napkn Ventures, Rockaway Capital
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