Backed by the project
The operation is tied to a named project: its land, its units and the receivables of the units already sold.
Sector · Construction
Invest in real estate development, backed by the project.
Kivvia originates and structures operations of developers, builders and land developers in Brazil, backed by the receivables and the assets of a specific project.
Pre-launch. Nothing on this page is an offer. Offerings will only be made after the applicable licences, through authorised partners, to investors who complete verification and suitability.
01 · Why construction
One project, one portfolio, one set of receivables
Each operation finances one project of one company. Kivvia looks at the company's track record and at the project's stage, sales value and receivables before anything is structured.
Track record first
Delivered projects, years of activity, registered activity (CNAE) and the open portfolio in sales value (VGV) are reviewed and shown to the team before promotion.
Known instruments
CRI and CCB are decades-old instruments with their own laws, registries and market practice. Kivvia uses them, not new ones.
02 · How an operation runs
From the company's profile to the settlement of receivables
During the waitlist, Kivvia maps and analyses companies. Offerings follow the licensing of the partners and of Kivvia.
- 01
Company and portfolio
The company presents its projects: stage, units, sales value, launch and delivery dates. Kivvia checks the registry and scores the fit.
- 02
Project analysis
The project's land, approvals, sales and receivables are reviewed; the segregated estate (patrimônio de afetação) and the guarantees are confirmed.
- 03
Structuring
The receivables or the company's debt are formalised as a CCB or securitised into a CRI by a partner securitisation company.
- 04
Offering
The offering is distributed by licensed partners to verified investors, within the limits of the applicable regime.
- 05
Works, sales and settlement
Units are sold and delivered; the receivables flow to the segregated estate that settles the instrument and pays investors.
03 · Instruments and norms
What the operation is made of
Every instrument has a law or a CVM rule behind it. Kivvia tracks changes to these norms and shows the current citation here.
CRI · Certificado de Recebíveis Imobiliários
A security issued by a securitisation company and backed by real estate receivables, with a segregated estate for investors.
Lei 9.514/1997 · Resolução CVM 60/2021 · Lei 14.430/2022
CCB · Cédula de Crédito Bancário
A credit note issued by the company in favour of a financial institution, which can carry real guarantees and be assigned to investors through a securitisation.
Lei 10.931/2004
Patrimônio de afetação
The segregation of a project's land, works and receivables from the developer's other assets, protecting the buyers and the operation.
Lei 4.591/1964 · Lei 10.931/2004
Crowdfunding of small companies
Public offerings of small companies through an authorised crowdfunding platform, with limits per investor and per offering.
Resolução CVM 88/2022
04 · What you can do today
Three steps before the first series
The waitlist prepares the information you will receive. It is not an order and creates no commitment.
Create an investor account
Say where you are resident. That decides which Kivvia company serves you and under which rules.
Register your interest
Investor type, ticket range, sectors and terms, plus five preliminary suitability questions.
Learn the instruments
Read how a CRI and a CCB work and which norms govern them before the first series is announced.
05 · Risks
What can go wrong
Real estate operations carry risks that no structure removes. Each series will describe its own in the offering documents.
Construction
Cost overruns, delays and approvals can change the project's schedule and margin.
Sales
Units may sell slower or cheaper than planned, reducing the receivables that back the operation.
Counterparty
The developer, the buyers of the units or the securitisation company may fail to perform. Guarantees and the segregated estate mitigate, not eliminate, this risk.
Liquidity
These instruments have no organised secondary market. Plan to hold until maturity.
06 · Questions
Frequently asked
Is Kivvia licensed?
Not yet. Kivvia Fintech LTDA originates and structures operations in Brazil and does not distribute securities; offerings will run through CVM-authorised partners. Kivvia Fintech S.L. is being incorporated in Madrid and is not authorised or supervised by the CNMV.
Which companies does Kivvia work with?
Developers, builders, land developers and property technology companies registered in Brazil, with a track record and a project portfolio the team can verify.
Who can invest?
Residents of Brazil will be served by Kivvia Fintech LTDA; everyone else joins the Kivvia Fintech S.L. waitlist until its authorisation. Each regime sets its own investor limits.
What return can I expect?
Kivvia does not promise returns. Each series will state its terms and risks in its own documents, which you should read before any decision.
Also see: Agriculture
Follow the first real estate series
Join the waitlist to receive the announcement and the steps before it: verification, suitability and the offering documents.