Aug. 11, 2023 - The firm advised the venture capital arm of Banco Bradesco on its R$17 million seed investment in Brazilian web security startup Exato Digital.

Exato will use the funds to develop new products for its existing suite of background check and identity validation software, and to further expand its client base of more than 150 companies. The startup received its first funding last year, in a pre-seed round amounting to R$1.7 million.

“Exato Digital is transforming the information verification market in Brazil," said Rafael Padilha, director of private equity and venture capital at Bradesco, “making it simpler and more accessible for individuals and companies to obtain reliable data about their customers, suppliers and partners."

“We want the 'Verified by Exato' seal to represent security and trust for anyone who wants to establish a relationship or close a deal," said Leandro Casella, CEO of Exato Digital.

Founded in 1943, the São Paulo-based Bradesco is the third-largest bank in Latin America.

The HHR team advising Bradesco included Jason Lee, Jiayin Liao, Victor Boccardo and Justin Cohen.