US-based VC Thrive Capital led a USD20m Series A for Pipo Saúde, a Brazilian employee health plan management platform, with participation from Atlantico and follow-on from monashees, KASZEK, ONEVC and angels David Velez (Nubank), Florian Otto (Cedar). Pipo raised USD4.6m from monashees, KASZEK and ONEVC in 2020.
(TechCrunch) – Pipo Saude, a startup that developed a platform that sells and manages healthcare benefits for Brazilian companies, has raised $20 million in a Series A round of funding.
Joshua Kushner’s Thrive Capital led the round, marking the first time the New York-based venture firm has led an investment in a Brazilian startup. (Although, notably, Thrive has also put money in Nubank and Loft.)
Atlantico participated in the financing as a new investor in addition to all existing backers including Monashees, Kaszek and OneVC. Nubank co-founder and CEO David Velez and Cedar co-founder and CEO Florian Otto (and former CEO of Groupon in Brazil) also joined in the round. Pipo Saude had raised $4.6 million in a seed round in June 2020 that was led by Monashees and Kaszek with the participation of OneVC and Nubank’s Velez.
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