Startup Sensedia receives R$120 million investment round led by Riverwood Capital

RIO DE JANEIRO, BRAZIL – App programming interface (API) startup Sensedia on Tuesday announced it has received a R$120 (US$23) million investment round led by Riverwood Capital.

According to Sensedia, the investment funds will be used to expand its product offering and for geographic expansion, including overseas.

“We are a fast-growing company and the partnership with Riverwood will further accelerate our ability to respond to international demands,” said Sensedia co-founder and executive Marcilio Oliveira in a statement.

The startup founded in 2007 says it has seen a 160% increase in demand for its API platform over the past two years, with the market’s increasing digitization, which gained momentum last year with social isolation measures to contain the Covid-19 pandemic and financial regulatory innovations such as PIX instant payment and open banking.

APIs, which enable communication between platforms, have been widely demanded by technology companies such as fintechs, which have been multiplying in Brazil to compete with large established banks.

The company says it has 7 offices spread across Brazil, Peru, Colombia, and the UK. In the first four months of 2021, Sensedia’s team grew more than 20%, and expects to reach more than 650 by the end of the year said Kleber Bacili, Sensedia’s CEO and co-founder.

Sensedia Platform enables customers to scale API-based frameworks and address needs related to security, governance, monetization and developer engagement.

Sensedia assists companies to become more digital, connected and open through a technology platform and expertise in APIs and microservices.