LatAm Fintech Challenger R2 Raises Series A Featuring Adam Neumann’s Family Office

Google’s Gradient Ventures and Adam Neumann’s family office are some investors backing the new fundraising that values R2 at $100 million

R2's co-founders: Roger Larach and Roger Teran
By Carolina Millan
September 02, 2022 | 03:57 PM

Bloomberg — Latin American fintech firm R2 reached a $100 million valuation following a $15 million Series A round led by Google’s Gradient Ventures.

Other participants on this round are Femsa Ventures and PayU, as well as prior investors General Catalyst, Adam and Rebekah Neumann’s family office 166 2nd, and Magma Partners, said co-founder Roger Larach in an interview to Bloomberg News. It comes amid a tougher environment for startups as US rates rise and tech valuations drop. Startup funding for the region fell in the first quarter.

It’s the second fundraising in seven months. In February, R2 raised a $5.9 million Seed round, as Bloomberg Línea showed.

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R2, named after a statistics concept, provides lending infrastructure and capital to allow companies to offer financial services under their own brands. Clients currently include last-mile service Rappi in Ecuador and Mexico’s Clip.

“We’re solving the credit deficit by allowing other platforms to lend to small and medium enterprises,” said Larach. “For larger companies, it allows a chance to solve a pain point for clients, which is lack of access to credit.”

The loans they offer range from $500 to $25,000.

The company plans to use the funds to improve its technology, including data analysis. It has 34 employees with 12 nationalities and recently launched operations in Chile. R2 plans to expand to other markets over the next 12 months.

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Read more on bloomberg.com

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