Microsoft, Banco Votorantim partner on Brazil fintech investments
Microsoft Corp (MSFT.O) and Brazilian lender Banco Votorantim are investing together in financial technology startups, executives said in a Monday interview, as the U.S. tech company adds a new specialty to its venture capital portfolio in Brazil.
Votorantim will invest an initial 3 million reais ($930,000) in the BR Startups fund created by Microsoft, with an expectation of funding about a half dozen young firms with investments ranging between 250,000 reais and 1.5 million reais.
The partnership underscores how Brazilian banks are looking to ride a wave of innovative financial startups,... read more
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