Foley & Lardner LLP represented Brazilian rural credit fintech TerraMagna in its $40 million debt and equity funding round led by SoftBank Latin America Fund and Shift Capital. Milenio Capital, along with existing investors, also participated in the round.

TerraMagna offers loans in partnerships with distributors and industries that already have a long-term local relationship with small and medium-sized farmers. The startup looks at a range of data sources such as satellite imagery, government data regarding environmentalism, climate data, and information from the notary. It then utilizes that data to underwrite farms. The company also offers a point of sale system (POS) to farming retailers, allowing them to capture financial data on the retailer and farmers.

This funding round will be broken down into $10 million in equity financing and $30 million in debt financing. The company plans to use the funding from this round to expand its regional presence and diversify its offering of financial products, as well as to grow its tech and sales teams.

Partner André Thiollier led the Foley team with assistance from Associate Ethan Floyd.