Brazil’s Agrotools Enters Ecuador and Peru with Banco Pichincha

Agrotools, a Brazilian agtech company approaching its 18th anniversary, is strategically expanding its international footprint after partnering with Pichincha, a leading Ecuadorian bank. Pichincha is strong in agricultural finance, and is also present in Peru.

Having cultivated a client base across Paraguay, Argentina, Australia, and Colombia, Agrotools is now directing its attention towards penetrating North American markets, with a particular focus on the United States and Canada. Domestically, the company counts a minimum of 14 financial institutions among its esteemed clientele.

Agrotools specializes in providing remote monitoring and data management solutions for rural landscapes, distinguishing itself through pioneering systems designed to trace the origins of livestock processed by major industry players such as JBS, Minerva, and Marfrig.

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CEO and founder Sérgio Rocha acknowledges a shifting landscape, as traditional subsidies favoring American and European competitors diminish, creating novel opportunities for Agrotools. Rocha states, “The evolving dynamics present unique openings for us.”

The company has dedicated recent years to fortifying its infrastructure in anticipation of international expansion, refining its governance structure following a successful 2022 funding round that secured R$ 85 million for future growth. Noteworthy investors now include influential figures from Brazil’s capital markets and business community, including venture capital firm KPTL, Inovabra (the private equity arm of Bradesco), and prominent individuals such as Horácio Lafer Piva of Klabin.

This influx of capital has facilitated Agrotools’ transition towards a software-as-a-service (SaaS) model, enabling a workforce expansion from 90 to 250 employees. Currently serving over 100 companies with more than 150 active contracts, the company reported a noteworthy 30% increase in recurring revenue in 2023, totaling R$ 340 million.

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