Fligoo said to close $40m in its funding round

Data and analytics platform for banks Fligoo has reportedly secured $40m in a funding round that will help it enter Brazil.

The capital was supplied by 4P Investments and Suquet Capital Partners, according to a report from Contxto.

Based in Argentina, the FinTech is using the capital injection to help it to enter the Brazilian market and scale its operations.

Banks can use the Fligoo platform to improve the usage of their data and enhance their sales efforts. The company has three core products, AI Sales, AI Chun and Data Ready.

Through the Data Ready solution, clients an integrate an end-to-end data lake that can centralise all information flowing through a bank to improve insight generation. The FinTech’s other tools can help sales and marketing teams to receive AI-generated sales recommendations and insights.

Investment volume in Latin America’s FinTech space has reached $5.1bn since 2015, FinTech Global’s data shows. The largest portion of this capital came in 2019, when $2.7bn was invested.

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