After a year without new acquisitions, it resumed its inorganic growth strategy, with the purchase of idwall. The anti-fraud solutions startup is invested in by funds such as GGV Capital, Península, Monashees, Norte Ventures, ONEVC and Canary, and has already raised R$260 million in capital since its founding. Among the first investors are names like Rodrigo Dantas, Paulo Silveira and Bruno Yoshimura.
The transaction would have been closed at approximately R$450 million, according to sources interviewed by Startups. This would mean about five times the revenue and with payment upfront. The information has not yet been confirmed by the companies.
In a statement, Serasa Experian informed that the acquisition of idwall is “part of its strategy to further strengthen its authentication and fraud prevention portfolio, offering robust and effective solutions for clients and consumers”.
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The company highlighted that the completion of the operation still needs to be approved by the Administrative Council for Economic Defense (Cade) and that, during this evaluation period, the organizations remain independent. The notification to Cade was published in the Official Gazette of the Union (DOU) this Wednesday (06).
In the market, the acquisition is expected to help boost the digital identification sector, which has been growing in Brazil due to increased digitalization and the need for security systems that protect these environments.
In addition to Unico, which has been quoted for an IPO for some time now, Rio Grande do Sul’s Certta (formerly CAF – Combate à Fraude) has also been closely monitored by the market, with the expectation that it will make some moves this year.
Founded in 2016 by Lincoln Ando and Raphael Melo, idwall works with identity verification, risk management and digital onboarding. The last round raised by the startup was in 2021, with a Series C of R$210 million, led by the Endurance family office, with participation from GGV Capital, Península, Monashees, Norte Ventures, Canary, Qualcomm and ONEVC.
Serasa’s last acquisition was completed in 2025, when the company purchased ClearSale for around R$2 billion.
Between 2021 and 2024, Serasa adopted an aggressive acquisition strategy, with 14 operations, in total, operations involving fintechs and startups from other segments, such as agribusiness and insurance.
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Fintechs have been the majority to date, names such as PagueVeloz (payments), Mova (credit) and, more recently, SalaryFits (from the Zetra group).
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