Warren receives US $ 22,5 million in new funding round to deliver the best digital investment experience in Brazil

July 26, 2020
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In the midst of the new coronavirus pandemic, they attracted the biggest round in their history. A huge responsibility to bring even more innovation and experience to their customers.

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2020 has been a challenging year for us all. We are living in a time of crisis in global public health, which has reached an avalanche in economies around the world and in our lives. And, even in such a sensitive moment, they ended up consolidating our Series B, which attracted more than R $ 120 million in investments, in an initiative led by the venture capital fund QED Investors .

The round also includes the participation of Kaszek Ventures , Ribbit and Chromo Invest funds , which were already their investors since our Series A, and MELI Fund , WPA and Quartz , who join the team, together with QED, in Series B .

“Our goal is to continue investing mainly in technology. We will continue to deliver the best investment experience for users of our platforms in a model that is fully aligned with investor interests, an agenda that has gained even more relevance in recent times, ”explains Tito Gusmão, our CEO.

See articles about Warren's Series B at Exame , Valor Econômico , Estadão and Forbes .

What banks and other brokers don't do: they eliminate conflict of interest

Warren adopts the fee-based model, which charges a fixed percentage to manage resources. In this way, they eliminate the conflict of interest and offer the best products to the customer, since the more this portfolio yields, the more everyone involved will gain.

“We believe that wealth management in Brazil is currently undergoing a revolution. Investors already recognize the damage that high commissions do to their portfolios. Warren has always focused on transparency and customer focus, doing this in an unprecedented way in the Brazilian market. We are excited, ”explains Lauren Morton, partner at QED Investors.

Recent in the Brazilian market, this aligned model is a counterpoint to the commission-based one, currently offered by other brokers and banks. In this other option, the remuneration of companies is given for the purchase of products, with professionals who work with sales targets, which can lead the client to invest in products that, in the end, bring greater returns to financial institutions.

Working with transparency and respect for the Brazilian investor was one of the reasons for attracting Series B.

“In an environment with low interest rates, it is more important than ever that the public has access to several quality investment options, with low cost and transparency”, reinforces Nikolay Kostov, a partner at Ribbit.

Nicolas Berman, partner at Kaszek Ventures, also shares the thesis.

“Warren anticipated for the investment market in Brazil a way to invest that is already a reality in countries with more mature economies. The fee-based model that they adopt presented to the investor what is already beginning to be called in the brokerage country in a 3.0 model ”, he points out.

For Tiago Wallau Kretzmann, partner at Chromo Invest, the Brazilian is gradually discovering this “third way” of investments.

“The path of investment alignment is inevitable, and Warren is a key player in this transformation. Its natural vocation for financial education, especially for younger clients or those who were previously on the margins of the market, plays an important social role and in the country's savings potential ”, explains Kretzmann.

Expansion of performance

With more than 130 thousand customers and R $ 2 billion in assets under management, they intend to multiply this equity by five by the end of 2021, reaching the mark of R $ 10 billion.

And to expand the platform's reach, they must maintain the hiring pace of the last three months, when around 100 professionals were added to their staff. Now, the goal is to recruit 80 more people by the end of the year. See their vacancies here.

Another investment destination is to improve their partner platform, Warren for Business .

“We want to double our partner base. Today we have more than 200 connected and we intend to reach 400 by the end of the year ”, explains Tito.

Although they have digital in their DNA, they are increasingly opening physical spaces for face-to-face service for their customers and partners. They already have offices in Porto Alegre, São Paulo, Curitiba, Jaraguá do Sul, Itajaí, Blumenau, Florianópolis.

By December, five more cities should have the service, which focuses on serving B2B and high-income customers.

“At Warren we identified many of the elements that make up MELI Fund's investment thesis: a very competent team, a differentiated product and a wide range of synergies to be explored with Mercado Livre”, observes Renato Pereira, from MELI Fund, about the inclusion of Warren in the group's portfolio.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

2020 has been a challenging year for us all. We are living in a time of crisis in global public health, which has reached an avalanche in economies around the world and in our lives. And, even in such a sensitive moment, they ended up consolidating our Series B, which attracted more than R $ 120 million in investments, in an initiative led by the venture capital fund QED Investors .

The round also includes the participation of Kaszek Ventures , Ribbit and Chromo Invest funds , which were already their investors since our Series A, and MELI Fund , WPA and Quartz , who join the team, together with QED, in Series B .

“Our goal is to continue investing mainly in technology. We will continue to deliver the best investment experience for users of our platforms in a model that is fully aligned with investor interests, an agenda that has gained even more relevance in recent times, ”explains Tito Gusmão, our CEO.

See articles about Warren's Series B at Exame , Valor Econômico , Estadão and Forbes .

What banks and other brokers don't do: they eliminate conflict of interest

Warren adopts the fee-based model, which charges a fixed percentage to manage resources. In this way, they eliminate the conflict of interest and offer the best products to the customer, since the more this portfolio yields, the more everyone involved will gain.

“We believe that wealth management in Brazil is currently undergoing a revolution. Investors already recognize the damage that high commissions do to their portfolios. Warren has always focused on transparency and customer focus, doing this in an unprecedented way in the Brazilian market. We are excited, ”explains Lauren Morton, partner at QED Investors.

Recent in the Brazilian market, this aligned model is a counterpoint to the commission-based one, currently offered by other brokers and banks. In this other option, the remuneration of companies is given for the purchase of products, with professionals who work with sales targets, which can lead the client to invest in products that, in the end, bring greater returns to financial institutions.

Working with transparency and respect for the Brazilian investor was one of the reasons for attracting Series B.

“In an environment with low interest rates, it is more important than ever that the public has access to several quality investment options, with low cost and transparency”, reinforces Nikolay Kostov, a partner at Ribbit.

Nicolas Berman, partner at Kaszek Ventures, also shares the thesis.

“Warren anticipated for the investment market in Brazil a way to invest that is already a reality in countries with more mature economies. The fee-based model that they adopt presented to the investor what is already beginning to be called in the brokerage country in a 3.0 model ”, he points out.

For Tiago Wallau Kretzmann, partner at Chromo Invest, the Brazilian is gradually discovering this “third way” of investments.

“The path of investment alignment is inevitable, and Warren is a key player in this transformation. Its natural vocation for financial education, especially for younger clients or those who were previously on the margins of the market, plays an important social role and in the country's savings potential ”, explains Kretzmann.

Expansion of performance

With more than 130 thousand customers and R $ 2 billion in assets under management, they intend to multiply this equity by five by the end of 2021, reaching the mark of R $ 10 billion.

And to expand the platform's reach, they must maintain the hiring pace of the last three months, when around 100 professionals were added to their staff. Now, the goal is to recruit 80 more people by the end of the year. See their vacancies here.

Another investment destination is to improve their partner platform, Warren for Business .

“We want to double our partner base. Today we have more than 200 connected and we intend to reach 400 by the end of the year ”, explains Tito.

Although they have digital in their DNA, they are increasingly opening physical spaces for face-to-face service for their customers and partners. They already have offices in Porto Alegre, São Paulo, Curitiba, Jaraguá do Sul, Itajaí, Blumenau, Florianópolis.

By December, five more cities should have the service, which focuses on serving B2B and high-income customers.

“At Warren we identified many of the elements that make up MELI Fund's investment thesis: a very competent team, a differentiated product and a wide range of synergies to be explored with Mercado Livre”, observes Renato Pereira, from MELI Fund, about the inclusion of Warren in the group's portfolio.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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País de origen:
Headquarters:
Porto Alegre
Monto inversión:
22.5
M
Ronda financiación:
Series B
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