Rei do Pitaco has announced it has secured $18m (£13.5m) in funding from financial services firm PvX Partners.
PvX Partners said the funds are earmarked for enhancing Rei do Pitaco’s user acquisition as it looks to accelerate its future growth plans.
The São Paulo-based operator was founded in 2019 and was included in the initial wave of licensed operators in Brazil’s regulated gaming market when it went live in January 2025.
The operator first submitted its licence application in July 2024, before receiving approval from Brazil’s Ministry of Finance by the end of the year.
Having originally established itself as a daily fantasy sports (DFS) app, the company now operates a sportsbook powered by Kambi, in addition to an online casino platform.
“Radical discipline”
Writing on LinkedIn, Rei do Pitaco co-founder and CEO Kiko Augusto said: “I’m proud to announce our partnership with PvX Partners to accelerate Rei do Pitaco’s growth.
“Since 2019, we’ve built one of Brazil’s most efficient gaming operations, betting that, in a market dominated by giants with inflated costs, radical discipline would beat pure capital. The thesis is proving right.
“While competitors inherited billions in regulatory liabilities and depend on white-label tech, we built a product from scratch – 100% proprietary, 100% compliant, 100% focused on craft and experience.
“PvX isn’t investing in another betting company. They’re investing in an efficiency machine that happens to do gambling. And we’re just getting started. Now back to work.”
The investment in the Brazilian market marks PvX Partners’ first venture in the Latam region. Previous notable investments in gaming companies include Australia-based firm Dabble.
A PvX Partners statement read: “As a dominant brand and one of the few licensed operators in Brazil, Rei do Pitaco is poised to grow rapidly in the coming years.
“PvX Partners is providing $18m in user acquisition funding to help Rei do Pitaco accelerate its growth and bring its dynamic sports experience to even more fans across Brazil. This marks our first investment into a Brazilian company and we are thrilled to expand into Latam with this talented team.”
In January, Rei do Pitaco’s chief technology officer and COO Phyllipe Medeiros announced his departure from the company.
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The post Rei do Pitaco says it is “just getting started” after securing $18m funding to drive growth first appeared on EGR Intel.
PvX Partners chooses the Brazilian operator for its first investment in the Latam region, with the money earmarked for user acquisition
The post Rei do Pitaco says it is “just getting started” after securing $18m funding to drive growth first appeared on EGR Intel.