Vórtx Secures $35 Million (USD) Growth Equity Investment from FTV Capital
SAO PAULO – March 23, 2021 – Vórtx, a tech-enabled corporate and trust service provider for fund managers and corporate issuers in Brazil, today announced it has raised $35 million in Series B funding, led by FTV Capital, a sector-focused investor in innovative companies in enterprise technology and services, financial services, and payments and transaction processing. The funding will be used to accelerate Vortx’s technology enhancements and market presence in the financial back-office market, as the alternatives market in Brazil continues to accelerate.
Vortx was founded in 2015 by capital markets experts Juliano Cornacchia and Alexandre Assolini, and has since become a one-stop shop for fund managers and corporations alike, through its comprehensive core offering for fund administration and corporate services. Vortx’s offering includes services in areas such as corporate trust, focusing on fiduciary agents, asset custody, and transfer agent services; funds trust, concentrating on fund administration and qualified services; and clearing agent, bookkeeping and legal representation and custody for non-resident investors.
“The financial market’s back office has always been bureaucratic and not as technologically advanced as it could be in Brazil,” said Juliano Cornacchia, Vortx CEO and co-founder. “At Vortx, we set out to change this and believe that through technology, we can significantly improve customer experience and continue to scale our business. Through our investment from FTV Capital, we will focus on providing new services that will ultimately create even more value for our customers.”
“The alternatives market in Brazil has expanded rapidly over the past several years, presenting an exciting opportunity for Vortx,” said Kyle Griswold, partner at FTV Capital. “Vortx is effectively utilizing technology to improve service quality and to enhance operational efficiency, setting itself apart from its peers. We plan to leverage our successful track record of investing in wealth and asset management technology solutions, including the fund administration space, to help Vortx accelerate growth, and we look forward to partnering with the Vortx team on the journey ahead.”
In 2020, Vortx announced the launch of VX Meetings, a platform with full support for digital meetings; Vórtx One, a platform for Funds Trust; and VX Informa+, a platform for Corporate Trust. Additionally, Vortx recently announced an investment in the global fintech Parfin, expanding its presence in the crypto asset market. In 2019, it acquired software developer Vorasys/BCInf and invested in the Brazilian startup Preparo, focused on assisting the development of hiring and recruitment for internships and first jobs.
Kyle Griswold and Brent Fierro led the investment for FTV Capital and will collaborate with the Vortx management team to drive growth. This represents FTV’s fourth investment in Latin America, including EBANX in 2018; Globant in 2008, which became the first Latin American software company to launch a public offering on the NYSE in 2014; and Lean Solutions Group, which is headquartered in the US, but has operations in Colombia.
Vórtx is an infrastructure fintech for the financial market, founded in 2015 by Alexandre Assolini and Juliano Cornacchia. Currently, the company has more than R$ 125 billion of assets under custody and has a team of more than 150 employees acting as fund administrator, custodian, bookkeeper and fiduciary agent, with a strong and rising presence in Funds Trust, leading the Corporate Trust segment and technology applied tools for the capital market.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 120 portfolio companies, including Centaur Fund Services, EBANX and Enfusion, and successfully exited companies including Apex Fund Services (recapitalized by Genstar), Empyrean Benefit Solutions (acquired by Securian Financial), ExlServices (IPO), Globant (NYSE IPO), Health Credit Services (acquired by Ally Financial), InvestCloud (recapitalized), Strata Fund Solutions (acquired by Alter Domus) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco and New York. For more information, please visit ftvcapital.com.