Magma Partners invests in Frente to streamline foreign exchange transactions

We’re excited to invest in Frente’s Series A round to support Daniela, Ricardo, Altino, and the Frente team.

Frente Corretora is a global foreign exchange (FX) infrastructure platform, starting with the B2B payments layer in Brazil. Frente is one of the largest non-bank regulated FX entities in Brazil.

In 2020, Brazil’s Central Bank launched PIX to enable secure, instant, 24/7 payments with no user fees. By 2023, nearly 70% of the population used PIX for mobile e-commerce and in-store transactions.

PIX was initially limited to domestic use, but since 2023, companies like Frente have started using it for international transactions. In 2024, Frente launched CommPix, its proprietary infrastructure that allows Brazilian users to pay via Pix even while abroad, and enables international merchants to receive 100% of the transaction value - bypassing traditional card network fees and reducing dependence on legacy payment rails.

Daniela, Ricardo, and Altino bring over 40 years of combined experience in finance and banking and have founded multiple businesses. In 2024, Frente processed over $2 billion in transactions. Growth has been driven by partnerships with companies such as PicPay, MoneyGram, Smiles, and Livelo, along with the consolidation of its business units: FrenteTech, Frente USA, and Simple.

We’re excited to back Frente as they build a faster, more accessible FX experience for businesses and users across Latin America and beyond.

“We’re really excited to partner with the Frente team to support their growth both in Brazil and globally. We believe Frente is uniquely positioned to power the next wave of FX digitization in Brazil, leveraging key infrastructure like Pix and eFX to simplify and modernize cross-border payments. The opportunity is massive, and we’re proud to back a team that’s already proven they can build and execute at scale,” Laura Martinez, Associate at Magma Partners