Daniel Magalhães and Edson Lopes, former executives at Brazilian fintech Virgo, founded Vitrify; a platform that uses AI to organize and make the private credit market transparent. Giants like BTG and Itaú are already using it.
What is Vitrify and what problem does it solve?
The private credit market moves more than US$119 billion annually in Brazil, but its information remains fragmented, opaque and difficult to process. That is the gap that Vitrify closed.
The startup uses artificial intelligence to consolidate data from institutions such as B3 and Ambima, as well as banks and other players in the financial ecosystem. The objective is to function as an “oracle”: a reliable reference source for those who operate in the secondary private credit market.
“Our main objective is to reduce arbitrage, increase market transparency and support participants so that they have more data and tools to do more business,” stated Daniel Magalhães, co-founder of Vitrify.
Traction and business model
Vitrify spent much of 2025 validating its technology with early customers. It wasn’t until November that monetization started, and the response was immediate. The strategy is subscription-based, with differentiated plans based on data depth and enabled tools.
Its expansion model also relies on the network effect: when an analyst who uses Vitrify changes companies, they take the tool with them. In BTG there are already two areas with contracted licenses, in Itaú four contracts are in negotiation and in Bradesco another two are in process.
Investment and what’s coming
To accelerate its growth in 2026, Vitrify closed a $170,000 angel round, which included experienced executives such as Carlos Neto, founder of Matera. The funds go towards developing new modules and improving data quality using AI.
The goal for this year is clear: break even by mid-2026 with an MRR of US$42,500, and close the year with US$85,000 in monthly recurring revenue.
