Propel Ventures leads $ US$6.6 million round in Brazilian startup Brendi

Brendi closed a $ US$6.6 million funding round led by U.S. firm Propel Ventures to accelerate the expansion of its artificial intelligence-powered conversational commerce platform for restaurants. The funds will strengthen the startup’s growth strategy and its mission to help food businesses manage orders directly through WhatsApp.

The round also included participation from Brazilian funds Big Bets, Norte Ventures and Citrino, as well as angel investors such as Patrick Sigrist, co-founder of iFood, and Daniel Silva, founder of Hyperplane.

Propel Ventures backs Brendi’s conversational commerce strategy

According to the company, the involvement of prominent angel investors was key to introducing Brendi to Propel Ventures, a fund known for investing in fintechs such as Banco Neon and Nomad.

The mix of international and local investors reflects growing confidence in Brendi’s business model and the potential of conversational commerce in Brazil’s restaurant industry.

The AI-powered platform enables orders to be managed through WhatsApp

Brendi developed a platform that enables restaurants to automate customer interactions and order management entirely through WhatsApp.

Using artificial intelligence, the system can process requests by text or voice, display digital menus, and complete payment transactions without human intervention. By allowing restaurants to interact directly with their customers, the platform creates an alternative sales channel that reduces reliance on traditional delivery marketplaces and their associated commissions.

The company is targeting rapid expansion after strong operational growth

Over the past year, Brendi significantly expanded its operations.

The startup grew its customer base to 7,100 restaurants, while the number of orders processed weekly increased from 140,000 to 420,000.

With the new investment, the company plans to serve between 10,000 and 15,000 restaurants by the end of the year.

Some of the funds, approximately $ US$1.4 million, were also used to buy back shares from early angel investors.

Brendi projects sustained revenue growth

Brendi currently reports annual recurring revenue (ARR) of nearly $ US$5 million and expects that figure to reach up to $ US$9 million by the end of 2024.

Looking ahead, the company aims to reach $ US$20 million in ARR by 2027, supported by a gross margin above 40%.

Founder Daniel Frageri said Brendi expects to begin preparing for a Series A funding round within the next six months.

A flexible model that complements delivery platforms

Brendi positions itself as a technology provider for restaurants rather than competing directly with delivery companies such as iFood and Rappi.

Restaurants using the platform can continue working with their own delivery teams or with external logistics providers, giving them greater operational flexibility while retaining direct ownership of their customer relationships.

The model has gained particular traction in smaller Brazilian cities, where 85% of Brendi’s customer base is located and where traditional delivery apps have less presence.

The investment supports the next stage of growth

The $ US$6.6 million investment marks an important milestone for Brendi as it continues to expand its conversational commerce platform in Brazil’s food service sector.

By enabling restaurants to manage customer relationships directly, automate order processing, and reduce operating costs, the startup aims to strengthen its position in Brazil’s technology ecosystem, scale its operations, and prepare for its next funding round.