The fund created by the founders of BairesDev backs a break-even healthtech that grew tenfold
without raising capital, and is bringing the pharmacy benefit model to Latin America’s largest
pharmaceutical market.

São Paulo, Brazil, July 22, 2026 — Medipreço, the Brazil-based healthtech company and the
country’s leading AI-powered pharmacy benefit management (PBM) innovator, announced a
$500k investment from BDev Ventures, the fund created by the founders of BairesDev. It is one
of the fund’s first investments in Brazil.

The deal breaks from the typical venture capital playbook: Medipreço did not have an open
round. The company, headquartered in São Paulo, has operated at break-even since late 2023,
growing revenue tenfold over the past 24 months without outside capital. The investment grew
out of nearly a year of relationship between the two sides, until BDev Ventures decided to invest
to accelerate the company’s path to a Series A.

“Our financial discipline, strong team and structured product allowed us to grow 10x while still at break-even. So this round wasn’t driven by a cash crunch. What drove us was bringing in a long-term strategic partner. One that already saw the medication plan model take off in the United States years ago,” says Gianluca Xande, COO and founder of Medipreço.

Founded in 2020, Medipreço operates medication plans as a corporate benefit, covering more
than 500,000 lives across 100 large companies and health plans, including John Deere (NYSE:
DE), ArcelorMittal (AMS: MT), StoneCO (BVMF: STOC34), and Disney (NYSE: DIS). At the core
of the operation is a proprietary artificial intelligence infrastructure that reads and validates
medical documents, protecting the benefit against fraud and health-safety risks and generating
significant savings for corporate clients through data analytics and predictive models.

BDev Ventures has invested in more than 80 B2B software companies, with a model that
combines capital and its proprietary lead-generation platform, and the same engine that scaled
BairesDev. The fund reports more than 220,000 leads delivered to its 80+ partners and over $40
million in revenue generated for its portfolio companies.

“Medipreço brings together everything we look for in a company, no matter the market. It combines capital efficiency, proprietary technology and a massive, underpenetrated opportunity,” says Keshia Theobald-van Gent, Partner at BDev Ventures. “In Brazil, where medication coverage is still the exception and AI adoption in healthcare is only beginning, this is the kind of company where our capital-plus-demand-generation model truly moves the needle.”

The opportunity is substantial. Brazil is the ninth-largest pharmaceutical market in the world
(IQVIA) and the largest in Latin America, yet only an estimated 3% of Brazilians have any form
of medication coverage. The pharmacy benefit model that underpins prescription coverage for
most insured Americans, offered by employers, insurers, and government programs, has no
equivalent operating at scale in Latin America, leaving vast room in the region for what already
works in the U.S.: subsidized access to medication.

The proceeds will be deployed on three fronts. Medipreço will strengthen its medical
document-reading AI and data analytics, accelerate commercial expansion and invest further in
client services and consulting, one of the company’s core strengths. The commercial push will
be led by newly appointed Commercial Director, Alessandro Ferri, who spent 24 years at
RaiaDrogasil, Latin America’s largest drugstore chain.”

The company is betting that medication plans will follow the same path gym and dental benefits
took in Brazil. Research published by Américo and Rocha in the Journal of Health Economics in
2020 found that subsidizing access to medication can reduce hospitalizations and, in turn,
overall healthcare costs, compared with a model where patients pay the full expense.

“No one has managed to do this for medication at scale, safely and simply for the end user. That is exactly the infrastructure we have built,” Gianluca Xande concludes.

The round also includes participation from existing investors, who first backed the company in its
R$8 million pre-seed round raised in late 2021.

About Medipreço

Founded in 2019, Medipreço is a healthtech company that provides corporate healthcare
benefits and pharmacy management. Through its digital platform and mobile application,
Medipreço partners with companies to subsidize employee access to medications, health
products, and wellness items. The platform offers convenient delivery options, smart locker
pickups, and direct pharmacy purchases. By expanding healthcare access and reducing costs,
Medipreço is committed to improving the quality of life for workers and their dependents across
Brazil.

About BDev Ventures

BDev Ventures is a venture capital investment firm that was founded to bring strategic growth
and revenue acceleration capabilities to B2B software, technology, SaaS, and product
businesses across the United States and Latin America. We invest in early-stage and growth
(Seed to Series C) companies that are ready to ramp up revenue quickly over the next several
years, and we deploy a revenue generation platform to help them scale. This is the same
platform that transformed BairesDev into the largest and fastest-growing 100% bootstrapped IT
services company in the world. BDev Ventures was founded by a team of experienced operators
and the founding team behind BairesDev. For more information, please visit https://www.bdevventures.com/.

Media Contact: press@bairesdev.com