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Health-Tech Startup Raises Funds for Brazil Oscar-Copycat Plan

Oct. 20, 2020, 10:00 AM

Sami, a tech startup looking to replicate the success of Oscar Insurance Corp. in Brazil, is raising $15.5 million to take on the biggest players in the nation’s health-care insurance market.

The company’s second round of investments is coming from Monashees Gestao de Investimentos Ltda., Redpoint eVentures LP and Valor Capital Group LLC, where former U.S. ambassador to Brazil Clifford Sobel is a partner. Last year, Redpoint and Brazilian Canary invested $1 million in the Sao Paulo-based firm, which was founded in 2018.

Sami founding partners Vitor Asseituno, left, and Guilherme Berardo.
Source: Sami

“We are planning to attack the market’s monsters, companies with revenue as high as ...