Nuvini, a Brazilian Company, Set to Go Public on Nasdaq through SPAC Agreement

01 Oct, 2023

Nuvini, a Brazilian Company, Set to Go Public on Nasdaq through SPAC Agreement

Brazil's Nuvini, a holding company overseeing a portfolio of software-as-a-service (SaaS) startups, is poised to embark on its journey to the New York stock market. This transition is being facilitated through a merger with a special purpose acquisition company (SPAC) established by Mercato Partners (MPRA.O), effectively valuing Nuvini at a substantial $235 million. In a significant development, Nuvini is scheduled to commence trading on the Nasdaq exchange, where it will be recognized by the ticker symbol "NVNI."

The merger is expected to infuse approximately $60 million into Nuvini, a strategic move that CEO Pierre Schurmann envisions as fuel for future acquisitions. In an interview, Schurmann expressed the company's ambition to pursue 17 potential deals within Brazil's burgeoning tech landscape. Furthermore, Nuvini's expansion aspirations extend beyond national borders, with plans to explore opportunities in other Latin American countries, notably Mexico and Colombia, by the early part of the second quarter.

The company's acquisition strategy is poised to target SaaS startups from a diverse array of segments, excluding fintech due to the inflated valuations within this sector. Additionally, health companies have been excluded from their radar due to the intricate web of regulations governing this particular industry.

This strategic move marks a pivotal moment in Nuvini's growth trajectory, allowing it to leverage its SPAC merger to embark on an aggressive expansion journey while actively seeking synergistic opportunities within the tech ecosystem.

Nuvini's entry into the Nasdaq exchange signifies its readiness to tap into the global capital market, solidifying its position as a noteworthy player within the SaaS industry. The injection of funds resulting from this merger opens doors to exciting prospects, not only within Brazil but also across Latin America, ushering in a new era of growth and innovation for the company.