Trace Finance Announces $32 Million Series A

Gunderson Dettmer represented Trace Finance, a Brazilian fintech company, in its $32 million Series A financing. The round was led by CoinFund and included Coinbase Ventures, Haun Ventures, Jump Capital, and Paxos, among others.

Trace will use the new funding to expand its cross-border payments infrastructure and its operations across the U.S., Brazil, Latin America, and the Asia-Pacific region, while developing new settlement products, including stablecoins.

“This round lets us deepen the banking, payments, and compliance infrastructure that global fintechs, exchanges, international banks and enterprises rely on to bridge digital settlement with trusted local financial systems,” said Bernardo Brites, co-founder and CEO of Trace Finance, in the announcement of the transaction. “We built Trace bridging the U.S. to Brazil and are now extending that infrastructure across LatAm and other emerging markets.”

The Gunderson deal team was led by Christel Moreno and included Jace Clegg, Katie Gardner, Tuca Bihari, Tina Xu, Eduarda Tavares, Madeleine Matsui, and Stefania Toschi.