Brazilian at the head of the BID, the startup that bets on low-income real estate and what matters in the market

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The first Brazilian in charge of the IDB

Ilan Goldfajn, former BC president between 2016 and 2019, was elected this Sunday (20) as president of the IDB (Inter-American Development Bank). He will be the first Brazilian to command the institution.

His candidacy had 80% of the votes and support from 26 countries, disputing with four other names. In the final stretch, Argentina withdrew its nomination to support the Brazilian.

Who is Ilan? Born in Israel to Brazilian parents, he holds a degree in economics from the Federal University of Rio de Janeiro, with a doctorate from MIT, in the USA.

turbulent indication: his name was chosen by the Minister of Economy, Paulo Guedes. After the election, however, there was pressure against the Brazilian from the PT, who wanted to suggest someone else.

In an interview with Sheetthe new president of the IDB said that he will listen to everyone, that his platform coincides with that of the elected government and that the historic moment should not be wasted.

Repercussion: the election was received with optimism by most of the economists consulted by the Sheet or who manifested themselves in their social networks.

What is the IDB for? Headquartered in Washington (USA), it finances economic, social and institutional development projects in Latin America and the Caribbean.

• Understand here how the institution works and the importance of having a Brazilian in the presidency.

Startup of the Week: Approved Easy

On Mondays, the “Startup of the Week” section shows an x-ray of a startup that recently received funding.

The startup: Founded in 2021, in Rio, proptech (startup in the real estate market) connects brokers, builders and banks to clients in search of properties in the economic segment, its focus of action, on its platform.

In numbers: Approva Fácil announced last week that it had received a contribution of BRL 19 million in a seed round (understand the stages of investing in startups here).

Who invested: the investment was led by venture capital firm Terracotta Ventures, specialized in digital businesses in the real estate market.

What problem does it solve? Approva Fácil’s goal is to attract brokers to a less targeted segment: low-cost real estate, for a public with a family income of between R$ 1,800 and R$ 12,000, considered the base of the pyramid in this market.

• To achieve this goal, it bets on digitizing all stages of the property transaction on its marketplace.

Why it stands out: in addition to the startup registering one of the largest fundraisings in Brazil in the last week, the contribution is noteworthy for being in a young proptech (one year old) and aimed at a segment that tends to feel more the weight of interest at current levels .

More numbers: with 20,000 units in its marketplace, Approva Fácil wants to take advantage of the contribution to enter the São Paulo market, the largest in the country.

• Another objective is to multiply by five the PSV (general sales value) of the properties available on its platform – from the current BRL 4 billions for BRL 20 billion🇧🇷

The week in summary

There were 15 funding rounds in Latin America, with $51.8 million (R$ 277 million) in investments. The largest in the period was that of the Argentine fintech Ping, in a seed of $15 million (BRL 80 million).

The data was provided by the Sling Hub platform.

Koo: ‘New Twitter’ Causes Frisson, Sparks Jokes

Taking advantage of the tension of Twitter users while the platform lost hundreds of employees, the Indian social network Koo spent Friday (18) tweeting in Portuguese.

• The network, which attracted orphans and influential Twitter profiles –Felipe Neto, Claudia Leitte and Casimiro– was the target of several puns with its name.

• In a series of tweets, Koo promised to translate the product into Portuguese and also jumped on the bandwagon: “the name is the sound of the yellow bird [símbolo da rede]not what you think”.

• Launched in March 2020, the platform gained notoriety in India the following year, when Twitter faced a crisis with the local government, under Prime Minister Narendra Modi.

Elon Musk in trouble: After the ultimatum that saw hundreds of employees leave Twitter, the billionaire spent last Friday sending a flurry of emails to the remnants.

• “Anyone who actually writes software, please report to the 10th floor at 2pm today,” he wrote in a two-paragraph message.

• The World Cup, which opened this Sunday, will be a test of fire for the platform lacking in manpower – the event usually increases network traffic.

During the weekendMusk took the opportunity to announce that he was removing the suspension of some network profiles.

Opinion: The mess that became Musk’s acquisition of Twitter is symbolic of a deep hole in the tech sector, writes columnist Ronaldo Lemos.

Foot on the brake with pre-fixed titles

Despite the country having one of the highest real interest rates (nominal interest minus inflation) in the world, managers have not shown much appetite for fixed income securities.

Which explains: the recent worsening of financial indicators, mainly in the futures interest market, with the presentation of the Transition PEC.

• The relationship between the futures interest market and fixed income securities is that investors have started to bet on new increases in the Selic rate in 2023, which should increase the profitability – and reduce prices– of the securities.

What are the alternatives? To protect investments from inflation, one option is bonds pegged to the IPCA, with medium-term maturity –as in 2026–, highlights Marcello Negro, director of Fator Administração de Recursos.

• On Friday, an option on the Direct Treasury (government bonds) with that term was the IPCA +6.15% per annum.

• Fixed-rate bonds maturing in 2025 offered a nominal interest rate (without considering inflation) of 13.7% per annum.

More about investments:

• Christmas is right there. How about buying a mall? Columnist Marcos de Vasconcellos says that the sector’s shares never recovered from 2020, while networks are going through good times.