Argentine fintech Cocos raised US$34 million in its first investment round led by Kaszek. Spice Expeditions also participated in the transaction. The financing valued the digital investment platform at US$508 million.
First institutional backing
The transaction represents the company's first external capital injection since its founding. Venture capital firm Kaszek led the round, marking its first major Argentine-focused deal. Cocos had previously expanded its business entirely through operating cash flow.
Rapid operational scale
Nicolás Mindlin and Ariel Sbdar established the platform in 2021 with US$50,000. The company now employs nearly 300 staff members. Cocos reports US$150 million in annualized group revenue across 2.5 million users.
Unified financial platform
Cocos completed the acquisition of Banco Voii in Argentina to build Cocos Bank. The platform combines retail trading, corporate financing, and digital payments. New resources will support product development with a focus on artificial intelligence.
Cocos also agreed in July to purchase Brazilian investment platform assets from Warren. That cross-border transaction remains subject to regulatory approval from the Central Bank of Brazil. Once cleared, the team plans to deploy capital to build regional operations.