Artefact acquires Brazilian AI consulting company
The acquisition was carried out through Artefact’s Brazilian subsidiary and seeks to strengthen the company’s presence in South America.
The acquisition adds 30 AI professionals into Artefact’s Latin America (Latam) team, which is expected to reach 250 employees by the end of 2025.
Finor was founded in 2020 in Porto Alegre by professors Tiago Filomena and Guilherme Kirch of Brazilian university UFRGS, and focuses on the banking, financial services and insurance sectors.
Artefact has more than 1,700 employees in 25 countries across the Americas, Europe, Asia, Middle East, India and Africa.
André Fonseca, chief executive of Latin America at Artefact, said: “Finor’s combination of domain expertise and technological excellence strengthens our ability to serve banking and insurance clients in Latam.”
Tiago Filomena, co-founder and chief executive at Finor, commented: “Partnering with Artefact allows us to scale our mission and help financial institutions embrace AI responsibly.”
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