Brazil Startup Deals 2025: Venture Capital Momentum in October

Brazil startup deals 2025 continued to gain momentum in October, with a strong wave of deals spanning fintech, healthtech, agtech, and mobility. Venture-capital activity in the country surged as both local and international investors doubled down on Latin America’s largest innovation market.

Brazil Venture Capital October 2025: Overview of Funding Rounds

Oct 29 – Rhino (Mobility) – R$ 5.7 m from AngelsDeck Global Ventures & Clapper Venture; follows R$ 18 m seed (2024).
Oct 28 – Isa Saúde (Healthtech) – R$ 160 m Series B led by IFC (World Bank Group) with IDB Lab, Dalus, Endeavor Catalyst, existing investors.
Oct 27 – Produzindo Certo (Agtech) – R$ 20.7 m led by Arar Capital & SP Ventures with The Yield Lab, SLC Ventures & AgroVen.
Oct 23 – Darwin (Insurtech) – R$ 102 m led by Vintage Investimentos with IRB Brasil Resseguros and Eqwow.
Oct 21 – Velotax (Fintech, Tax & Credit) – R$ 125 m Series A led by QED Investors, Valor Capital & Picus Capital — the highest seed-stage financing so far in 2025. 
Oct 13 – Bull (Fintech) – R$ 10 m pre-seed led by Canary with Scale Up Ventures and Endeavor.
Oct 10 – Brazil VC Market Context – US$ 692 m raised Q3 (+47% YoY); Omie (US$ 160 m Series D by Partners Group) & Canopy (US$ 100 m by Bessemer + Cloud9).
Oct 8 – Pagaleve (Fintech) – R$ 160 m equity + FIDC; valuation near R$ 1 bn.
Oct 3 – Kanastra (Fintech) – R$ 170 m Series B led by F-Prime Capital with IFC, Kaszek, Itaú, Valor Capital & Quona.
Oct 1 – Lastro (AI / Proptech) – R$ 85 m Series A led by Prosus Ventures with FJ Labs & Endeavor Scale-Up Ventures.
Oct 1 – CredAluga (Fintech) – R$ 60 m Series A led by Provence Partners with Caravela Capital, Honey Island by 4UM & Norte Ventures.

Fintech and Insurtech: Leading Brazil Startup Investments 2025

Fintechs continued to dominate Brazil venture capital 2025. Velotax, Pagaleve, Kanastra and CredAluga accounted for the largest tickets. Insurtech Darwin’s nine-digit raise confirmed investor confidence in insurance innovation. Velotax was the largest seed round so far.

This wave of Brazil startup deals 2025 shows sustained investor appetite. These results reinforce how Brazil startup deals 2025 are concentrated in financial and insurance innovation, sectors that continue to attract recurring investor attention.

Healthtech and Agtech: Sustainable Growth in Brazilian Venture Capital 2025

Isa Saúde and Produzindo Certo highlight impact and sustainability themes in Brazil startup investments 2025, echoing the IFC and IDB Lab mandate for health and green-credit solutions. Within the broader landscape of deals in 2025, these sectors stand out for combining financial scalability with measurable social and environmental impact. Among Brazil startup investments 2025, healthtech and agtech continue to attract institutional capital.

The Firms Behind the Deals

October once again underscored the dominance of global and local powerhouses advising Brazil startup deals 2025 in the venture-capital legal market.

 Foley & Lardner LLP (partner, André Thiollier) and Gunderson Dettmer (partners, Dan Green and Brian Hutchings) continue to lead international counsel mandates for cross-border startup financings, while Bronstein Zilberberg Chueiri & Potenza Advogados (partners, Eduardo Zilberberg and Guilherme Potenza), Veirano Advogados (partner, Guilherme Ohanian Monteiro), and Demarest Advogados (partners, João Busin and Juliana Maluf) stand out as the leading Brazilian firms advising technology clients and global investors in domestic transactions.

Velotax – R$ 125 million Series A
Foley & Lardner LLP (International Counsel) – Partner André Thiollier; Associates Trevor Mullin, Mackenzie Barrett.
Demarest Advogados (Brazil Counsel) – Partners João Busin, Juliana Maluf; Associates Bárbara Queiroz, Pedro Vecci.
Gunderson Dettmer LLP (Investor Counsel) – Partners Dan Green, Brian C. Hutchings; Associate Tuca Bihari.
Cooley LLP (QED Investors Counsel) – Partner Derek Colla; Associate Sarah Howard.

Omie – US$ 160 million Series D
Pinheiro Neto Advogados – Partner André Bernini, representing Partners Group (lead investor).

Lastro – R$ 85 million Series A
BZCP (Partner Eduardo Zilberberg, Bronstein Zilberberg Chueiri & Potenza) represented the company.
Veirano Advogados acted for lead investor Prosus Ventures (Partner Guilherme Ohanian Monteiro), Senior Associates João Pedro Zagni, Isabel Hering; Associates Annalice Baldini, Eduardo Silveiro, Giulia Volante).
Gunderson Dettmer served as US counsel (Partner Christel H. Moreno, Associate Francisco Z. Mont’Alverne).

Produzindo Certo – R$ 20.7 million
Freitas Ferraz Advogados – Bernardo Freitas, Isabela Ardaya, Larissa Vargas.

Darwin Seguros – R$ 102 million brazil startup investments
Advised by IGC, Demarest Advogados, and Martins Advisory (lawyer names not disclosed).

Kanastra – R$ 170 million Series B
Counsel not disclosed for the equity round; related debt issuance handled by FLH Advogados (Gabriel Leutewiler, William Rizzi, Paulo Garcia, Giovanna Bicudo).

Pagaleve – R$ 160 million
Counsel not publicly disclosed (earlier round advised by TozziniFreire Advogados for BB Ventures).

CredAluga – R$ 60 million, Rhino – R$ 5.7 million
Legal representation not disclosed as of publication.

The depth of legal expertise behind these transactions reflects the continued sophistication of Brazil startup investments, where both international and domestic law firms play a pivotal role in ensuring cross-border structures, investor compliance, and founder protections align with global standards.

What These Brazil Venture Deals Mean for Investors and Founders

The Brazil Venture Capital transactions announced this month offer key insights into where capital and expertise are converging across sectors.

1. Fintech dominance continues to anchor deal volume and value.
2. Healthtech and agtech attract impact-driven capital.
3. Global VC players (F-Prime, Prosus, QED, IFC) remain active in Brazil.
4. Later-stage rounds reflect maturity and professionalisation.
5. Legal sophistication and cross-border structuring are now central to Brazil’s VC ecosystem.

Final Note

Overall, Brazil startup deals 2025 confirm the country’s position as the regional reference point for technology growth and cross-border investment.

Taken together, the Brazil startup deals in October 2025 signal a decisive rebound in venture appetite and legal sophistication across the market. Brazil is reaffirming its role as Latin America’s venture-capital hub, with international investors and global law firms deepening their local engagement while domestic firms strengthen cross-border capabilities. For founders, the message is clear: disciplined governance, transparent legal structures, and strategic partnerships remain the foundation for scaling beyond Brazil’s borders in the next investment cycle. Altogether, these Brazil startup deals 2025 reflect an ecosystem reaching structural maturity

Related Reading

Velotax Series A: QED, Valor, and Picus Back Brazil’s Fintech Tax Innovator
Omie’s Record 2025 Raise: Partners Group Leads Brazil’s Largest VC Round of the Year
Latin America’s Top Startups in 2025: Valuations and the Law Firms Behind Them

LatAm Tech Weekly by Julia De Luca, a weekly LatAm tech trusted source of information, on further October tech deal flow.

Resumo em português
O “Brazil startup deals October 2025” confirma a retomada do venture capital no Brasil, com rodadas lideradas por Velotax (a maior captação seed do ano), Pagaleve, Kanastra, Isa Saúde e Produzindo Certo. A Velotax teve assessoria de André Thiollier (Foley & Lardner LLP), João Busin e Juliana Maluf (Demarest Advogados). Os investimentos variaram de R$ 5,7 mi a R$ 170 mi e reforçam a liderança brasileira no ecossistema de startups latino-americano. Essas operações refletem uma nova fase de amadurecimento do mercado e consolidam o Brasil como centro regional de inovação e investimento em tecnologia.