Principia Announces Series A and Acquisition of Provi
Gunderson Dettmer represented client Principia, a fintech offering credit solutions for educational institutions, in its Series A financing along with the acquisition of Provi, a checkout and credit platform for professional courses. Principia processes a volume of tuition equivalent to R$200 million per year and serves more than 40 thousand undergraduate students through its platform.
The Series A financing was led by Valor Capital with participation from ARC Capital, Spectra, Supera, and FJ Labs and will be used for expansion and continue its plan to become an integrated hub of financial solutions for educational institutions in the country.
With the acquisition of Provi, Principia plans to open new verticals to serve more than 650 educational institutions in the country and bring its portfolio to around 400 thousand students who are already on the Provi platform.
In the announcement of the transaction, Principia founder and CEO Newton Maia said, “The two businesses are very complementary. Provi's solutions, focused on short courses, are perfect for Principia customers' postgraduate courses. We will make the credit engine built by Provi even more robust and transform Principia into the most complete for educational institutions in the country.”
The Gunderson Dettmer deal team was led by Adan Muller and included Francisco Mont'Alverne.