On June 1, 2021, Brazilian regtech company idwall announced that it has raised $38 million in a Series C round led by Endurance Investments. GGV Capital, monashees, Canary, Qualcomm Ventures LLC, ONEVC, Peninsula, and Norte also participated in the funding, bringing idwall’s total raised to nearly $50 million. Wilson Sonsini Goodrich & Rosati represented Endurance Investments in the transaction.

idwall uses machine learning and AI to automate the onboarding process via its face match, background check, risk analysis, ID validation, and automated optical character recognition offerings to help companies avoid fraud. It plans to use its new capital to recruit more developers, strengthen its existing products, and release new ones. The company plans to increase its headcount from its current 200 to about 300 over the next few months and is also examining the possibility of expanding outside of Brazil to all of Latin America.

The Wilson Sonsini LatAm practice team that represented Endurance Investments in the transaction includes Matt Squires and Jose Corte-Real.

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