Vórtx, a tech-enabled corporate and trust service provider for fund managers and corporate issuers in Brazil, has raised USD35 million in Series B funding, led by FTV Capital.
The funding will be used to accelerate Vórtx’s technology enhancements and market presence in the financial back-office market, as the alternatives market in Brazil continues to accelerate.
Vórtx was founded in 2015 by capital markets experts Juliano Cornacchia and Alexandre Assolini, and has since become a one-stop shop for fund managers and corporations alike, through its comprehensive core offering for fund administration and corporate services. Vórtx’s offering includes services in areas such as corporate trust, focusing on fiduciary agents, asset custody, and transfer agent services; funds trust, concentrating on fund administration and qualified services; and clearing agent, bookkeeping and legal representation and custody for non-resident investors.
“The financial market’s back office has always been bureaucratic and not as technologically advanced as it could be in Brazil,” says Juliano Cornacchia, Vórtx CEO and co-founder. “At Vortx, we set out to change this and believe that through technology, we can significantly improve customer experience and continue to scale our business. Through our investment from FTV Capital, we will focus on providing new services that will ultimately create even more value for our customers.”
“The alternatives market in Brazil has expanded rapidly over the past several years, presenting an exciting opportunity for Vórtx,” says Kyle Griswold, partner at FTV Capital. “Vórtx is effectively utilising technology to improve service quality and to enhance operational efficiency, setting itself apart from its peers. We plan to leverage our successful track record of investing in wealth and asset management technology solutions, including the fund administration space, to help Vórtx accelerate growth, and we look forward to partnering with the Vórtx team on the journey ahead.”
In 2020, Vórtx announced the launch of VX Meetings, a platform with full support for digital meetings; Vórtx One, a platform for Funds Trust; and VX Informa+, a platform for Corporate Trust. Additionally, Vórtx recently announced an investment in the global fintech Parfin, expanding its presence in the crypto asset market. In 2019, it acquired software developer Vorasys/BCInf and invested in the Brazilian startup Preparo, focused on assisting the development of hiring and recruitment for internships and first jobs.
Kyle Griswold and Brent Fierro led the investment for FTV Capital and will collaborate with the Vórtx management team to drive growth. This represents FTV’s fourth investment in Latin America, including EBANX in 2018; Globant in 2008, which became the first Latin American software company to launch a public offering on the NYSE in 2014; and Lean Solutions Group, which is headquartered in the US, but has operations in Colombia.
