Artefact buys 30-person Brazilian data & AI consulting firm Finor
Artefact, a global provider of data and artificial intelligence (AI) consulting services, has acquired Finor, a Brazilian data & AI consulting firm dedicated to the financial services sector.
The acquisition, closed through Artefact’s Brazilian subsidiary, strengthens Artefact’s consulting presence in Latin America and cements its position at the forefront of AI-driven transformation for financial services.
Founded in 2020 in Porto Alegre by Tiago Filomena and Guilherme Kirch, Finor has since its inception grown to a team of 30 professionals. The consulting firm delivers projects to clients in Brazil and the US, including Edenred, IFC-World Bank, Bradesco, and Unico, with use cases spanning credit risk modeling, asset-liability management, portfolio optimization, fraud detection, and revenue management.
Commenting on the deal, André Fonseca, Artefact’s CEO of Latin America, said: “Finor’s unique combination of domain expertise and technological excellence strengthens our ability to serve banking and insurance clients in Latin America. Together, we can deliver the next generation of AI solutions and consolidate Artefact as the most impactful AI services ecosystem in Latin America.”
Artefact first expanded into Latin America in 2021, when it opened an office in Brazil. Its first five years in the continent have been marked by growth – by the end of 2025 Artefact expects to have over 250 employees across its offices in Brazil, Colombia, Mexico, and Chile (entered through an acquisition). Last week, its Latin America business was named among the region’s leading consulting firms for the first time.
Globally, Artefact has a team of more than 1,700 employees operate in 25 countries. The company is backed by private equity.
“Partnering with Artefact allows us to scale our mission and help financial institutions embrace AI responsibly, with transformative results across Brazil, Latin America, the United States and beyond,” said Filomena, Co-founder and CEO of Finor.
Vincent Luciani, Co-founder and Executive Chairman of Artefact, stated: “With Finor’s expertise and Artefact’s global capabilities, this partnership will help banks and insurers accelerate efficiency, optimize decision-making, and unlock new growth. It also emphasizes our commitment to responsible AI practices: building trust through transparency and explainability, ensuring security and reliability, and embedding fairness.”
