Nubank alum raises $85 million for an AI investment adviser charging a flat fee
Decade, an AI investment adviser from Nubank alum and CEO Vitor Olivier, emerged from stealth with an $85 million seed round, the largest ever raised by a Latin American startup. Decade charges a flat fee of about $40 a month instead of earning commissions, and connects to a customer's full financial life through Brazil's open banking APIs to flag high-fee products and offer on-demand access to a human advisor for bigger decisions.
NoteEarly usage data shows customers act on its recommendations, with the chance of holding a flagged asset falling from about 20% to 2%, an early test of whether flat-fee AI advice can out-compete Brazil's commission-based advisory business, where an advisor's income still depends on what they sell.
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