Kamino raises $10M to scale AI finance stack for mid-market CFOs.

Brazil's Kamino has closed a $10 million financing round to accelerate product development and customer growth aimed at mid-market finance teams. The round was co-led by Flourish Ventures and Quona Capital, with participation from Endeavor Catalyst. The capital will bankroll new AI-driven analytics, cash-flow forecasting and deeper bank integrations tailored for CFOs.

Founded in 2021, Kamino has repositioned from a startup-focused play to a solution designed for larger, under-digitised companies. The São Paulo-based platform already serves more than 2,000 clients, has processed over $2.7 billion in flows and has raised north of $20 million to date. CEO Gonzalo Parejo says the funding is a strategic step to convert product-market traction into repeatable enterprise sales.

Kamino’s core value proposition is automating routine treasury operations — payables, receivables and real-time bank reconciliation — and surfacing consolidated cash positions. The next product wave will layer automated performance analytics and AI-assisted cash forecasting on top of that plumbing, giving CFOs scenario modelling and recommended actions from their own data.

From a market perspective, Brazil’s mid-market represents a large, fragmented opportunity: Parejo estimates roughly 1 million mid-sized companies that still depend on spreadsheets and disparate systems. That backdrop helps explain why Kamino is prioritising domestic penetration over international expansion; the team has set an internal target of R$60mn annual recurring revenue within its horizon.

Investors are betting on the company’s go-to-market focus. According to sources close to the transaction, Flourish Ventures has been active in sharpening Kamino’s enterprise marketing and commercial model, while Quona Capital advised on embedding banking services such as corporate cards and payment rails into the platform. Endeavor Catalyst joins as a strategic backer with ecosystem access for scaling sales in Brazil’s regions.

For the market, Kamino’s raise underscores two broader trends: continued investor interest in fintechs that address the mid-market and a shift in product development from point solutions to CFO-level operating systems. If Kamino delivers reliable forecasting and decisioning tools, it could reduce working-capital costs and lower fraud and reconciliation losses for finance teams — measurable outcomes that justify subscription pricing.

Risks remain.