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The wave of strong exits in Brazil in 2025 continues, with Banyan Software acquiring insurtech software provider i4pro for R$270M. i4pro was acquired in 2019 by Angulo Capital, a SF led by Rafael Araujo, for approximately R$65M. The deal was supported by several SF investors, including Kviv Ventures, Anacapa Partners, and Pacific Lake Partners, among others. This transaction has generated a MOIC of more than 6x for these investors.
Founded in 2005 and headquartered in São Paulo, i4pro is a leading Brazilian provider of policy administration software for insurance carriers. Its comprehensive platform is designed to address the specific needs of insurers operating in a highly regulated market, supporting Property & Casualty, Life, and Reinsurance. By enabling insurers to manage complexity, enhance operational efficiency, and scale sustainably, i4pro has become a trusted partner in Brazil’s insurance sector.
“It’s been an incredible journey helping lead i4pro over the past several years. We’ve focused on building a resilient business with strong customer relationships and a platform our team is proud of. Partnering with Banyan Software is the right next step for i4pro, and I’m confident they’ll bring the long-term perspective and steady support the company deserves moving forward,” said Rafael Araujo, CEO of i4pro.
Reed Fawell, Operating Partner at Banyan Software, commented: “We’re excited to welcome i4pro into the Banyan family. The team has built something truly special, with deep customer relationships, specialized technology, and a strong reputation in the Brazilian insurance space. We look forward to supporting their continued growth, always with a focus on what’s best for their customers and the people behind the business.”
Founded in 2016, Banyan follows a buy-and-hold-for-life strategy, providing a permanent home for its companies, bringing deep software expertise, a global perspective, and a long-term investment mindset to help every business reach its full potential.
