A fintech Magie, that created a financial assistant based on artificial intelligence integrated into a digital bank on WhatsApp, received an investment 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, completed its seed round with a total amount of R$ 28 million
With your AI-powered digital bank on WhatsApp, a fintech facilitates financial transactions, allowing users to make Pix, pay bills and perform various other banking operations just by sending messages or audio in the app, counting on a native password feature. Since its launch in early 2024, a Magie has already moved more than R$100 million in transactions. Initially focused on the high-income audience, the fintech is now outlining strategies to expand its services to an even broader audience
The Lux Capital fund 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, in addition to fintechs like Ramp, valued at 8 billion dollars in the last round in April of this year. The founders of Ramp also invested in Magie's round as angels
The funding will be directed to strengthen Magie's expansion in the Brazilian market, strengthening your security infrastructure and exploring new features, how integration via Open Finance, that will allow connection with other financial institutions. Parallely, the fintech will continue investing in technological innovations, including facial recognition, to ensure that the user experience is increasingly secure, efficient and reliable
Magie also recently launched an income service, where customers can earn 100% of the CDI daily. This solution allows the invested money to start earning immediately, without the need for additional actions by the user, offering a more profitable alternative than most checking accounts at major banks
"The partnership with Lux Capital came about very naturally". They saw in Brazil the opportunity provided by using artificial intelligence in a sector full of inefficiencies and lack of alignment between clients and institutions, "but with a favorable regulatory environment and high use of WhatsApp for distribution" statesLuiz Ramalho, co-founder and CEO of Magie
With the investment from 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 don't want to be just another digital bank". 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."concluded the CEO"
