It is incredible that my last post was 2 months ago. The last 2-3 month were incredibly busy and focused time. As I mentioned in my post Coming to Brazil: 3 weeks from idea to completion we decided to relocate to Brazil. This decision was a response to the very tough time we were going through in Jan/Feb. We had trouble with former employees and an investor walking away last minute from an investment round we were closing. Team moral took a big hit. For the first time since founding Fundacity my vision of the company was destabilized albeit for a brief moment. The move to Brazil was meant to boost team moral and help catapult Fundacity onto the world stage away from off-the radar and somewhat uneventful Chile.
Since that decision things have raced into motion. In fact, 3 weeks after our decision, when I was battling on thinking of a way to finance the move, I received a ton of notifications on Facebook. ‘Congratulations”. Logging into Facebook I realized Fundacity was selected for the SEED Minas program in Brazil. I barely remembered applying. I learned about the application round 5 hours before deadline. It was 7pm. Most of the guys were leaving home. I got a coffee and sat down to fill out the 50+ question form. Diego began editing and cutting videos that were also required . It was the most rushed application I have ever undertaken. In fact i submitted the application 3 minutes past midnight. Thankfully it still went through. Lesson: always go for it even if it seems impossible.
1435 startups applied from 34 countries. We were one of the selected 40. The offer: USD33,000 and 2 year visas for the program participants in return for NO equity or need to repay. That is right, free money to come and launch our company in Brazil and full-time staff to help guide us in the new market. BOOM. The lucky break we absolutely needed. Our move to Brazil was financially and administratively secured (I was originally planning on moving to Brazil on a student visa).
We relocated to Brazil, launched Fundacity Portfolio Manager, closed a round with Primary Ventures and NXTPlabs Venture Fund and this week the government of Mina Gerais announced that they granted visas for life for all SEED participants! Damn I love Brazil.