ONEVC led Swap’s Seed Round, with the participation of GFC, SOMA Capital, Brad Flora (Y Combinator Partner), a.b.seed, Flourish Ventures, Rhombuz, Patrick Sigrist (Co-founder of iFood), and others. We are excited to partner with the team and support the company’s mission to develop the basic infrastructure for fintechs on an API.

The rise of fintechs and new regulations by the Central Bank have accelerated the need for basic infrastructure for banking, transfer, lending, and payment processing (also known as BaaS, or, Banking-As-A-Service). We believe the incumbents are underserving the market with outdated solutions, long implementation cycles, and high costs. …

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This post was updated on November 24th, 2020.

Last year I've heard about a that will in Silicon Valley — for a fraction of the cost of any other solution. The cost of satellite imagery is reducing dramatically and the quality of the photos is improving. At ONEVC, when we are looking at a startup we want to invest in, we always think "Why now?." Why didn’t this startup work 10 years ago, and what are the enablers that make it viable now? …

ONEVC invested in idwall along-side with Qualcomm Ventures, Grupo Globo, Justin Mateen (co-founder of Tinder), Hans Tung (GGV Capital, Current #7 on the ). As a general partner at ONEVC, I am sharing below the reasons why we are excited about this company.

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Lincoln Ando, Co-founder and CEO at idwall

More about idwall: idwall is a technology company based in São Paulo, Brazil. Through its APIs, idwall helps companies fight fraud, automate customer onboarding processes, mitigate external risks, and ensure compliance such as KYC (“Know Your Customer”) and AML (“Anti-money laundering”). …

Last year, I organized a trip with MBA students and professors from Stanford to São Paulo and Florianopolis with the objective of studying the current state of the entrepreneurial ecosystem in Brazil. For the first time, this gave me the opportunity to analyze the characteristics of our successful entrepreneurs through the lenses of Sand Hill Road. Below, I outline what I learned:

1. Creativity is a key competitive advantage embedded in our culture
In Brazil, we have the phrase "jeitinho brasileiro", which can be translated as "the Brazilian way of doing things." Usually, it has a very negative connotation and is used when people break the rules to solve their own problems in an individualistic approach. In my view, the entrepreneurs have their own and positive "jeitinho brasileiro" to deal with the scarcity of resources and the bureaucracy. The best example of creativity that we learned was during our meeting with Ariel Lambrecht, founder of the unicorn 99. In the early days, he mentioned that they didn't have money to invest in marketing and so they had to find a way to grow without spending money. By having this budget constraint, they came up with a brilliant strategy: they would not charge taxi drivers for rides and would use them as a marketing platform instead. While other competitors were spending a lot of money on customer acquisition and charging the drivers, Ariel was asking the drivers that were also serving competitors, to convince their end clients to switch to 99 and save commissions. The more competitors were spending on marketing to attract end clients, the more 99 could grow with this strategy. Genius! …


Bruno Yoshimura

General Partner at ONEVC

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