Lina Secures R$8M for Open Finance Tech Expansion •
Lina, a provider of data sharing and services technology, has successfully raised R$ 8 million in a funding round led by MSW Capital through the MSW MultiCorp2 fund. Established in 2020 by financial market executives, Lina aims to serve as the Open Finance (Banking, Insurance, and Investment) arm for major financial and insurance institutions.
The company’s focus is on overcoming technological challenges and enabling more businesses to be data-driven. Its solutions in infrastructure, connectivity, and data intelligence empower clients in and outside the financial market. Lina’s proprietary technology accelerates regulatory compliance processes and facilitates secure and intelligent data sharing. Its strategic partnerships include B3, TecBan, and RTM.
Having established a presence in the financial market, Lina is now venturing into the insurance sector with Open Insurance, a promising area under development in Brazil. This service will integrate with Open Banking, joining a broader data-sharing ecosystem known as Open Finance. This ecosystem encompasses banking, corporate, commercial, and financial information, offering a comprehensive view of individuals’ and companies’ financial and insurance histories in Brazil.
Alan Mareines, CEO of Lina, commented on the mission to boost the Open Insurance market in Brazil, highlighting the potential benefits of the partnership and their technology’s application. Bruno Alves, Director of Strategy and Technology at BB Seguros, noted the prosperous opportunities in the Open environment and Lina’s capacity to support companies in adapting to new scenarios.
The investment was made by the MSW Multicorp 2 Fund, which focuses on innovative technology-based startups with synergies with its investors: BB Seguros, Baterias Moura, AgeRio, and Embraer. Lina is the first Insuretech invested by the fund and the 5th startup invested in by MSW MultiCorp 2. The fund has invested in sectors like aerospace, logistics, robotics, and energy, and plans to expand its reach in 2024.
Richard Zeiger, a partner at MSW Capital, acknowledged the significant shift in how companies and individuals handle financial information. He praised Lina’s founding team’s experience and expertise in driving this transformation innovatively and securely. He emphasized the growing demand for infrastructure solutions in the Open environment, which Lina is well-equipped to provide to its clients.
The investment marks a critical step for Lina in its journey to establish itself as a leader in Open Finance solutions, particularly in the insurance sector, reflecting the evolving landscape of financial information management and technology.
