idwall Joins Serasa as Digital Identity Market Gains Momentum in Brazil
Serasa has acquired Brazilian anti-fraud startup idwall in a deal reportedly valued at US$80 million, reinforcing its digital identity and fraud prevention strategy in Brazil.
Serasa has resumed its inorganic growth strategy with the acquisition of Brazilian anti-fraud startup idwall, in a transaction reportedly valued at approximately US$80 million, according to sources familiar with the matter.
The acquisition marks Serasa’s return to the mergers and acquisitions market after spending a year without announcing new deals. The operation still depends on approval from Brazil’s Administrative Council for Economic Defense (Cade).
Acquisition strengthens Serasa’s fraud prevention portfolio
In an official statement, Serasa Experian said the acquisition is part of its strategy to further strengthen its authentication and fraud prevention portfolio.
According to the company, the move aims to expand its ability to provide more robust and efficient security solutions for both businesses and consumers. Until Cade completes its review process, Serasa and idwall will continue operating independently.
The notification regarding the transaction was published in Brazil’s Official Gazette (DOU) on Wednesday (06).
idwall attracted major investors before acquisition
Founded in 2016 by Lincoln Ando and Raphael Melo, idwall operates in identity verification, risk management, and digital onboarding solutions.
Since its launch, the startup has raised approximately US$46 million from investors including:
Among its early backers were entrepreneurs such as Rodrigo Dantas, Paulo Silveira and Bruno Yoshimura.
The company’s most recent funding round took place in 2021, when it secured a Series C investment of US$37 million led by Endurance family office, with participation from existing investors as well as Qualcomm.
Digital identity market continues to gain traction in Brazil
Market analysts expect the acquisition to intensify activity in Brazil’s digital identity and fraud prevention sector, driven by the rapid digitalization of financial services and the growing demand for secure digital environments.
Companies operating in the segment have increasingly attracted investor attention. Among them is Unico, which has long been rumored to be preparing for an IPO. Another closely watched player is Certta, previously known as CAF – Combate à Fraude.
Serasa continues aggressive acquisition strategy
The latest acquisition follows Serasa’s purchase of ClearSale in 2025, in a deal valued at around US$365 million.
Between 2021 and 2024, Serasa completed 14 acquisitions across sectors including fintech, agribusiness, and insurance. Financial technology companies represented the majority of those deals, including acquisitions such as PagueVeloz, Mova and SalaryFits, part of the Zetra Group.
