Magie Secures $4 Million in Seed Round

Magie Secures $4 Million in Seed Round

Magie, a São Paulo, Brazil-based fintech company, has secured $4 million in seed funding, bringing its total raised to $5.1 million.

The round was led by Lux Capital, a venture firm backing contrarians and outsiders in emerging science and technology. With over $5 billion in assets under management, Lux invests in groundbreaking ideas at any stage, from $100,000 to $100 million, and has grown from its NYC roots to Silicon Valley over the past two decades.

The company will use the funding for its AI-powered financial assistant.

Founded by Luiz Ramalho and João Camargo, Magie offers an AI-powered financial assistant that allows users to send money and pay bills via WhatsApp. Its AI-powered solution enables users to make Pix payments, pay bills, and perform other banking operations. Magie has acquired over 12,000 users since its launch in April, although the company has yet to monetize them.

Funding Details

Company: Magie, Ltda

Raised: $4.0M

Round: Seed Round

Funding Date: August 2024

Lead Investor: Lux Capital

Additional Investors:

Company Website: https://magie.com.br/

Software Category: Financial Assistant