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Who's who in Brazilian anti-fraud: Serasa, ClearSale, idwall and unico
Serasa Experian bought AllowMe, ClearSale and idwall; unico is valued at $2.6 billion. Meet Brazil's anti-fraud players and how the sector is consolidating.
Demand for anti-fraud tools is rising with the scams. Serasa Experian recorded 10.9 million fraud attempts in Brazil from January to September 2025, up 28.6%, one every 2.2 seconds (Serasa Experian). The market supplying the defenses is consolidating fast.
The consolidator: Serasa Experian
Experian's Brazilian arm has made 17 acquisitions in 6 years (Letsmoney).
| Company | Focus | Date | Value |
|---|---|---|---|
| AllowMe | Device intelligence | Sep 2023 | $45m |
| ClearSale | E-commerce and payments anti-fraud | Closed Apr 2025 | ~R$2bn ($350m per Morningstar) |
| idwall | Identity verification | Filed with CADE May 2026 | ~R$450m (unconfirmed) |
ClearSale had R$504 million in net revenue and about 7,400 clients before the deal (Forbes Brasil) and was delisted on April 2, 2025 (EuQueroInvestir; Morningstar). The idwall price has not been confirmed by the companies (Startups); AllowMe details via Economic News Brasil.
The most valuable independent: unico
Facial biometrics specialist unico raised a $100 million Series D led by Goldman Sachs Asset Management in 2022 at a $2.6 billion valuation (Bloomberg Línea). It runs about 25 million authentications a month and bought US passkey firm OwnID in 2025 (Foley).
Other bureaus and startups
- Boa Vista / Equifax: Equifax agreed to buy Boa Vista in 2023 (Equifax), which had bought Konduto for R$172 million (Finsiders).
- Quod: the banks' bureau received R$420 million from LexisNexis Risk Solutions (Finsiders).
- CAF: raised R$50 million in 2025 led by B3's L4 (Startups).
- Incognia: $31 million Series B led by Bessemer (Help Net Security).
- Legiti: R$42 million raised in 2022 (Baguete).
- Serpro's Datavalid: the state IT company validates identity against official databases (Serpro).
Market takeaways
Credit bureaus have become identity platforms, independent vendors are fewer, and the trend is global, with card networks such as Visa also buying anti-fraud firms.
Fuente
- Forbes Brasil: ClearSale anuncia fusão com a Experian
- EuQueroInvestir: ClearSale finaliza fusão e sai da B3
- Startups: Serasa compra idwall
- Economic News Brasil: Serasa compra AllowMe
- Letsmoney: Serasa soma 17 aquisições em 6 anos
- Bloomberg Línea: unico vale US$ 2,6 bi
- Foley: unico adquire a OwnID
- Finsiders: Boa Vista conclui aquisição da Konduto
- Equifax: acordo para adquirir a Boa Vista
- Finsiders: Quod recebe R$ 420 mi da LexisNexis
- Startups: L4 lidera aporte de R$ 50 mi na CAF
- Help Net Security: Incognia Série B
- Baguete: Legiti levanta R$ 42 milhões
- Serpro: Febraban Sec 2026
- Serasa Experian: tentativas de fraude até setembro de 2025
- Morningstar: Experian completes ClearSale acquisition