Magie, which created an artificial intelligence-based financial assistant integrated into a digital bank on WhatsApp, received a contribution of R$ 22 million led by the American investment fund Lux Capital. Adding to the previous investment of R$ 6 million from the Brazilian fund Canary, it concluded its seed round with a total amount of R$ 28 million.
With its AI-powered digital banking on WhatsApp, fintech facilitates financial transactions by allowing users to make Pixs, pay slips and perform various other banking operations just by sending messages or audios in the application, relying on a native password functionality.Since its launch in early 2024, the Magie has handled over R$ 100 million in transactionsinitially focused on the high-income audience, fintech now outlines strategies to expand its services to an even wider audience.
Lux Capital has 5 billion dollars under management and has one of the leading AI portfolios in the world, with unicorns like Hugging Face, Runway and Together, as well as fintechs like Ramp, valued at 8 billion dollars in the last round in April this year.
The contribution will be directed to reinforce Magie's expansion in the Brazilian market, strengthening its security infrastructure and exploring new features, such as integration via Open Finance, which will allow the connection with other financial institutions.Also, fintech will continue to invest in technological innovations, including facial recognition, to ensure that the user experience is increasingly safe, efficient and reliable.
Magie also recently launched an income service, where customers can get 100% earnings from CDI daily. This solution allows the money invested to start earning immediately, without the need for additional actions by the user, offering a more profitable alternative than most current accounts in large banks.
“The partnership with Lux Capital came very naturally.They saw in Brazil the opportunity provided to use artificial intelligence in a sector full of inefficiencies and lack of alignment between customers and institutions, but with a favorable regulatory environment and high use of WhatsApp for” distribution, he says Luiz Ramalho, co-founder and CEO of Magie.
With the investment of Lux Capital, Magie is in a privileged position to establish itself as a reference in the fintech market, leading a transformation in the way people manage their finances. “We do not want to be a digital bank anymore.Our vision is that Magie is an evolution of the manager or advisor, facilitating the management of your financial life, but always doing what is best for you, and not for your bank.” concludes the CEO.
