Cocos raises $34M led by Kaszek at a $508M valuation

Cocos has raised $34 million in its first external funding round, led by Kaszek with participation from Spice Expeditions. The round values the Argentine fintech at $508 million.

Founded by president Nicolás Mindlin and Ariel Sbdar, Cocos started operating in 2021 with $50,000 and had financed its growth from its own profits until now. It runs a digital investment platform and, after acquiring Banco Voii in 2026, is building Cocos Bank.

The company reports more than 2.5 million users, about $200 billion in annual transaction volume, more than $2 billion in assets under management, $150 million in annualised revenue and nearly 300 employees, and says it is profitable.

The money goes to consolidating the business in Argentina, new AI-driven products and expansion into Brazil, where Cocos agreed in July to acquire investment platform Warren, pending central bank approval. Kaszek was an early backer of Nubank.