Agrolend Raises Series-B of $27 Million from Global Fund Lightrock

Agrolend, the Brazilian fintech for rural producers, raises its Series-B backed from global investment fund Lightrock. Lightrock poured in Agrolend $27 million in an adverse environment for startups globally. The fund is controlled by the financial institution of the royal family of Liechtenstein.

Yara Growth Ventures, the corporate venture capital of Yara, a global supplier of plant nutrition and Mago Capital, of LocaWeb founders, participated in the round.

This is the second investment Agrolend is able to raise this year. In January the fintech was able to grab a $14 million Series-A round from Valor Capital, Continental Grain, SP Ventures, Provence Capital and Barn Invest.

According to founder and CEO Andre Glezer, Agrolend‘s plans are to expand its credit portfolio to BRL $2 billion, approximately $400 million. The company’s business model goes beyond credit.

Agrolend raise of its Series-B points to a broader market strategy

According to Gustavo Verdelli, a partner at Lightrock, the fund will help the fintech’s balance sheet to provide more credit and challenge the strategic roadmap from now on, emphasizing that credit is just the beginning of the startup’ strategy.

As Agrolend raises its Series-B round, it will be interesting to see the developments of other players in this space such as Brazil’s Terra Magna, which early this year was backed by Softbank in a $40 million Series-A round.

The Esquires and the Firms Behind the Deal

Bronstein Zilberberg Chueiri Potenza Advogados  acted as Brazilian legal counsel to Agrolend.

Partner Eduardo Zilberberg  led the Bronstein Zilberberg’s transaction team with the contribution from corporate associates Bruna Fernandes, Giuliana Primati and Luiza Pascowitch. 

The Top Ranked Chambers Brazil 2022 Bronstein Zilberberg Chueiri Potenza Advogados is a full service law firm based in São Paulo, and it is highly recognized as one of the leading top-tier M&A Venture Capital law firms in Brazil.

Other Firms Behind the Deal

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados acted as Brazilian counsel to Lightrock.

Mattos Filho is one of the most traditional law firms of Brazil, highly recognized as the top Capital Markets, Venture Capital and M&A law firm of the country headquartered in São Paulo and with offices in Rio de Janeiro, Campinas, Brasilia, London and New York.