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Digital Private Pension Broker Saks Lands BRL 26 Million Seed Investment from Itaú-Unibanco’s Private Equity Fund Kinea and Canary

Lefosse Advogados acted as Brazilian legal counsel to Saks



Saks Lands Seed Investment
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The Seed round of investment landed by Saks had the participation of FJ Labs and Honey Island, created by the co-founders of Ebanx

Saks, a Brazilian Digital Private Pension Broker, announced today that it has landed a Seed round of investment from funds Kinea Investimentos and Canary with the participation of FJ Labs and Honey Island Capital, the latter created by the co-founders of unicorn Ebanx.

Luiz Bacellar in Saks Lands Seed Investment
Luiz Bacellar

Saks was founded in 2020 by Luiz Bacellar (CEO), an experienced tech entrepreneur who has previously created Desbrava Corretora.

Saks has developed a digital platform that offers more than 100 different pension funds in Brazil. The App has an AI algorithm that suggests the best product, analyzing and suggesting the best product for the client.

Saks is one of the few Brazilian fintechs venturing into the private pension market with a huge market to expand its operations.

The round comes just a few weeks after Saks acquired DIF Markets, an Uruguay-based broker that provides Latin American investors access to global markets, a strong competitor of Brazil-USA Avenue. The operation is now integrated into the Saks family under the name of Saks Global. All international deposits will be under custody of Danish Saxo Bank.

The Esquires and the Firms Behind the Deal

André Ziccardi de Carvalho Saks Lands Seed Investment
André Z. de Carvalho

Lefosse Advogados acted as Brazilian legal counsel to Saks partner André Ziccardi de Carvalho leading the firm’s deal team with contribution from associate João Pedro Pizarro.

The top ranked Global Chambers and Chambers Brazil Lefosse Advogados is one of the highly regarded law firms in the country and a constant presence in the M&A Venture Capital space.

The firm is a full-service Brazilian firm with offices in São Paulo and Rio de Janeiro.

Nelson Mullins Riley & Scarborough acted as U.S. legal counsel to Saks with partner Leandro Molina leading the firm’s deal team.

Bronstein, Zilberberg, Chueiri & Potenza Advogados acted as Brazilian legal counsel to Kinea Investimentos with partners Guilherme Potenza and Priscila Gurgel Menezes leading the firm’s deal team.

saks lends investment from Kinea investimentos

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.

Wilson Sonsini  acted as US legal counsel to the Investors. Wilson Sonsini is headquartered in Palo Alto, California, with offices in 17 cities in the U.S. and abroad.

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Firms Behind the Deals