Nvni Group Limited Ordinary Shares (NVNI) 20-F/A 3 Feb 25 2023 FY Annual report (foreign) (amended) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Document Information Line Items
Entity Central Index Key	0001965143
Document Type	20-F/A
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-41823
Entity Registrant Name	Nvni Group Limited
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	P.O. Box 10008, Willow House
Entity Address, City or Town	Cricket SquareGrand Cayman
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-1001
Entity Common Stock, Shares Outstanding	27,732,999
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Description	This Amendment No. 1 to the Annual Report on Form 20-F/A (the “Amendment”) is being filed by Nvni Group Limited (the “Company,” “we,” “our,” or “us”) to amend the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023, originally filed with the U.S. Securities Exchange Commission (the “SEC”) on December 26, 2024 (the “Original Filing”). The Amendment sets forth the information in the Original Filing in its entirety, as adjusted for the changes described below.The Company is filing this Amendment to: (i)address an omission in the Original Filing: the Company identified that the auditor´s report from Deloitte Touche Tohmatsu Auditores Independentes Ltda. related to the consolidated financial statements for the years ended December 31, 2022 and 2021 was inadvertently omitted from the Original Filing, which is now being included in this Amendment;   (ii) replace the existing Exhibit 14.2: the Company identified that Exhibit 14.2 from the Original Filing (the “Prior Exhibit 14.2”) has been included by mistake and hereby is replaced in its entirety with a new Exhibit 14.2. The Prior Exhibit 14.2 no longer forms part of the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023. (iii)correcting immaterial error within cash flows from operating activities in the consolidated statement of cash flows for the year ended December 31, 2023. Specifically, the Company improperly classified activity between lines relating to tax and fee liability, income taxes paid, taxes on provisions, and loss before income tax. Additionally, the Company identified a typographical error in Note 17 regarding the subscribed and paid-in-capital balance. There was no impact to any other financial statements for the periods presented. The financial statements included in this Amendment have been corrected for these immaterial errors; (iv)amend Item 16G: Item 16G is hereby amended to clarify that we have elected to follow our home country exemption in the Cayman Islands in lieu of certain Listing Rules of The Nasdaq Stock Market LLC. Except as described above, no other changes have been made to the Original Filing. Otherwise, this Amendment speaks as of the date of the Original Filing, and does not modify, amend or update any other item or disclosures in the Original Filing. As such, this Amendment does not reflect events occurring after the filing of the Original Filing or modify or update those disclosures affected by subsequent events. The Company’s Chief Executive Officer and Chief Financial Officer are providing currently dated revised certifications as Exhibits 12.1, 12.2, 13.1 and 13.2 in connection with this Amendment.
Auditor Firm ID	5270
Auditor Name	Grant Thornton Auditores Independentes Ltda.
Auditor Location	São Paulo, Brazil
Amendment Flag	true
Document Fiscal Period Focus	FY
Business Contact
Document Information Line Items
Entity Address, Address Line One	P.O. Box 10008, Willow House
Entity Address, City or Town	Cricket SquareGrand Cayman
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-1001
Contact Personnel Name	Pierre Schurmann
City Area Code	(+55 11)
Local Phone Number	5642-3370
Contact Personnel Email Address	p@nuvini.com.br
Ordinary shares, par value $0.00001per share
Document Information Line Items
Title of 12(b) Security	Ordinary shares, par value $0.00001per share
Trading Symbol	NVNI
Security Exchange Name	NASDAQ
Warrants to purchase ordinary shares, each whole warrant exercisable for one ordinary share at an exercise price of $11.50
Document Information Line Items
Title of 12(b) Security	Warrants to purchase ordinary shares, each whole warrant exercisable for one ordinary share at an exercise price of $11.50
Trading Symbol	NVNIW
Security Exchange Name	NASDAQ

Consolidated Statement of Finan

Consolidated Statement of Financial Position - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	R$ 11398	R$ 8015
Trade accounts receivable, net	14,263	10,076
Short-term advances	28,970	1,131
Other current assets	7,537	1,053
Total current assets	62,168	20,275
Non-current assets
Property and equipment, net	3,990	2,932
Right-of-use assets, net	1,435	1,441
Intangible assets, net	137,061	138,951
Goodwill	204,099	199,512
Other non-current assets	11,108	3,954
Total non-current assets	357,693	346,790
Total assets	419,861	367,065
Current liabilities
Accounts payable to suppliers	47,133	7,283
Salaries and labor charges	16,674	15,015
Loans and financing	4,960	1,138
Loans from investors		200
Subscription rights		39,343
Debentures	51,197	60,873
Exposure premium liability	1,835	841
Lease liability	742	976
Income taxes payable	1,913	1,204
Taxes, fees and contributions payable	5,352	4,194
Deferred revenue	3,145	3,820
Deferred and contingent consideration on acquisitions	227,077	194,972
Related parties	9,867	846
Other current liabilities	852	1,391
Total current liabilities	370,747	332,096
Non-current liabilities
Loans and financing	329	669
Loans from investors	13,901	5,249
Taxes and contributions payable	2,886	1,154
Deferred and contingent consideration on acquisitions	5,000	39,984
Lease liability	777	611
Provisions for risks	30,820	31,032
Deferred taxes	44,566	45,838
Related parties		3,232
Derivative warrant liabilities	4,464
Other non-current liabilities		2,161
Total non-current liabilities	102,743	129,930
Total liabilities	473,490	462,026
SHAREHOLDERS’ DEFICIT
Share capital	260,685	40,404
Capital reserves	127,932	54,632
Accumulated losses	(446,575)	(193,850)
Total shareholders’ deficit, Equity attributable to owners	(57,958)	(98,814)
Non-controlling interest	4,329	3,853
Total shareholders’ deficit	(53,629)	(94,961)
Total liabilities and shareholders’ deficit	R$ 419861	R$ 367065

Consolidated Statement of Loss

Consolidated Statement of Loss and Comprehensive Loss - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Net operating revenue		R$ 168985	R$ 124545	R$ 89864
Cost of services provided		(66,138)	(52,813)	(35,833)
Gross profit		102,847	71,732	54,031
Sales and marketing expenses		(28,827)	(27,370)	(22,597)
General and administrative expenses		(93,156)	(53,347)	(56,073)
Impairment of goodwill		(11,373)	(86,897)	(6,758)
Other operating income (expenses), net		17,597	182	12
Listing Expense	[1]	(176,282)
Operating loss		(189,194)	(95,700)	(31,385)
Financial income and expenses, net		(55,110)	(16,730)	(42,479)
Loss before income tax		(244,304)	(112,430)	(73,864)
Income tax, net		(3,558)	(1,776)	(3,835)
Net loss representing total comprehensive loss for the year		(247,862)	(114,206)	(77,699)
Net loss attributed to:
Owners of the Company		(254,711)	(114,408)	(77,699)
Non-controlling interests		R$ 6849	R$ 202
Loss per share
Basic loss per share (R$) (in Brazil Real per share)		R$ 10.73	R$ 6.48	R$ 4.86
Diluted loss per share (in Brazil Real per share)		R$ 10.73	R$ 6.48	R$ 4.86
[1]Listing Expense The SPAC merger was accounted for as a capital reorganization with Nvni Group Limited determined to be the accounting acquirer of Mercato. Mercato does not meet the definition of a “business” pursuant to IFRS 3 Business Combinations, and therefore the Business Combination is expected to be considered a capital transaction and shall be accounted for as a share-based payment transaction under IFRS 2 Share-Based Payments, whereby Nvni Group Limited will issue shares for Mercato’s net assets. Under this method of accounting, the acquisition of Mercato will be stated at historical cost, with no goodwill or other intangible assets recorded. Accordingly, the Group recorded a one-time non-cash expense of R$(176,282). In accordance with IFRS 2, the expense represents the cost incurred in connection with achieving a listing on the Nasdaq Global Market (the “Listing Expense”). The expense is calculated as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired, as noted below:

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - BRL (R$) R$ in Thousands	Share Capital	Capital Reserves	Accumulated Losses	Attributable to owners of the parent	Non-controlling interests	Total
Balance at Dec. 31, 2020	R$ 10	R$ 1500	R$ 1743	R$ 3233		R$ 3233
Capital increase	38,894			38,894		38,894
Exercise of subscription rights		1,500		1,500		1,500
Provision for share-based payment		3,738		3,738		3,738
Net loss representing total comprehensive loss for the year			(77,699)	(77,699)		(77,699)
Balance at Dec. 31, 2021	38,904	3,738	(79,442)	(36,800)		(36,800)
Exercise of subscription rights	1,500	(1,500)
Initial recognition of non-controlling interest		42,510		42,510	4,207	46,717
Distributions to non-controlling interest					(556)	(556)
Provision for share-based payment		9,884		9,884		9,884
Net loss representing total comprehensive loss for the year			(114,408)	(114,408)	202	(114,206)
Balance at Dec. 31, 2022	40,404	54,632	(193,850)	(98,814)	3,853	(94,961)
Capital increase	186,371			186,371		186,371
Exercise of subscription rights	33,910	1,500		35,410		35,410
Initial recognition of non-controlling interest		(202)		(202)	706	504
Distributions to non-controlling interest			1,986	1,986	(7,079)	(5,093)
Provision for share-based payment		6,255		6,255		6,255
Debt instruments converted to equity		65,747		65,747		65,747
Net loss representing total comprehensive loss for the year			(254,711)	(254,711)	6,849	(247,862)
Balance at Dec. 31, 2023	R$ 260685	R$ 127932	R$ 446575	R$ 57958	R$ 4329	R$ 53629

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flow from operating activities
Loss before income tax	R$ 244304	R$ 112430	R$ 73864
Adjustments for:
Depreciation and amortization	18,715	17,234	13,578
Share-based payment expense	6,255	9,884	3,738
Adjustment in provision for risks	(1,395)	(1,953)	10,007
Interest on loans, financing and debentures	15,117	14,704	5,804
Interest on lease liabilities	316	175	103
Amendment to lease liability	(217)
Allowance for expected credit loss	440	20	117
Write-offs accounts receivable	953		487
Impairment of goodwill	11,373	86,897	6,758
Loss on disposal of assets	1,589	116	134
Deferred and contingent consideration adjustment	40,535	16,294	32,365
Employee bonus provision	2,001	2,470	1,661
Taxes on provisions		399
Fair value of derivative warrant liabilities	(14,507)
Listing Expense	176,282
Fair value of subscription rights	(2,941)	(14,495)	2,619
Decrease (increase) in operating assets:
Trade accounts receivable	(2,519)	153	(3,027)
Other assets	(32,230)	(2,532)	(943)
Increase (decrease) in operating liabilities:
Accounts payable to suppliers	38,956	2,023	(3,320)
Salaries and labor charges	(1,118)	3,653	2,133
Taxes and fees	2,534	1,366	(464)
Deferred revenue	(675)	(548)	4,330
Other liabilities	(2,727)	(2,596)	(3,991)
Income taxes paid	(9,624)	(6,638)	(4,953)
Net cash from operating activities	2,809	14,196	(6,728)
Investment activities
Cash payments to acquire property and equipment	(3,570)	(1,330)	(1,085)
Cash payments to acquire intangibles	(8,648)	(2,992)	(2,723)
Acquisition of subsidiaries – net of cash acquired			(90,979)
Net cash used in investment activities	(12,218)	(4,322)	(94,787)
Financing activities
Payment of principal loans and financing	(9,451)	(10,101)	(10,962)
Interest paid	(14,784)	(12,602)	(3,546)
Payment of principal portion of lease liabilities	(1,053)	(1,064)	(596)
Proceeds from debentures, loans, and financing	18,617	8,750	73,736
Capital increase	29,060		35,693
Proceeds on issuance of subscription rights		3,750	15,150
Distributions paid to non-controlling interest	(5,093)	(556)
Proceeds from investors and related party loans		8,961
Proceeds from related party loans			14,793
Payment of principal on related party loans			(3,000)
Payment of deferred and contingent consideration on acquisitions	(4,504)	(9,898)	(10,500)
Net cash (used in) from financing activities	12,792	(12,760)	110,768
Net (decrease) increase in cash and cash equivalents	3,383	(2,886)	9,253
Cash and cash equivalents at the beginning of the year	8,015	10,901	1,648
Cash and cash equivalents at the end of the year	R$ 11398	R$ 8015	R$ 10901

Corporate and Business Informat

Corporate and Business Information	12 Months Ended
	Dec. 31, 2023
Corporate and Business Information [Abstract]
Corporate and business information	Note 1. Corporate and business information Nvni Group Limited (“Nvni Group” “Nuvini” or the “Company”) is a Cayman Island exempted limited liability company, incorporated on November 16, 2022. The registered office of the Company is CO Services Cayman Limited, P.O. Box 10008, Willow House, Cricket Square, Grand Cayman, KY1-1001, Cayman Islands. The Company’s principal executive office is located at Rua Jesuíno Arruda, nº769, sala 20B, Itaim Bibi, in São Paulo, Brazil. Nvni Group is a holding company and conducts substantially all of its business through Nuvini S.A. and its acquired subsidiaries (collectively, the “Nuvini Acquired Companies”). For periods prior to February 26, 2023, the financial statements represent the results of operations of Nuvini S.A. and periods after February 26, 2023 represent the results of operations of Nvni Group. Nuvini and its subsidiaries, including the Nuvini Acquired Companies, will be referred to collectively herein as the “Group”. Nuvini’s strategy is focused on acquiring and operating established companies in the business-to-business (“B2B”) software as a service (“SaaS”) market in Brazil and Latin America. Nuvini’s acquisition targets are generally profitable B2B SaaS companies with a consolidated business model, recurring revenue, positive cash generation and/or growth potential. Nuvini’s business philosophy is to invest in established companies and foster an entrepreneurial environment that enables companies to become leaders in their respective industries, creating value through long- term partnerships with existing management teams and accelerating growth through improved commercial strategies, increased efficiency of internal processes and enhanced governance structures. Reorganization transaction On February 26, 2023, Nvni Group Limited, Nuvini Holdings Limited (an exempted company with limited liability in the Cayman Islands), Nuvini Merger Sub, Inc. (a Delaware corporation), and Mercato Partners Acquisition Corporation (a Delaware corporation, referred to as “Mercato”) entered into a Business Combination Agreement (“SPAC Merger”). According to this agreement, Nuvini Shareholders transfered all issued and outstanding ordinary shares of Nuvini, with a par value of $0.00001 per share, to Nvni Group Limited in exchange for newly issued ordinary shares of Nvni Group Limited, also with a par value of $0.00001 per share. Additionally, Nuvini Merger Sub, Inc. merged with Mercato, resulting in Mercato becoming a wholly-owned, indirect subsidiary of Nvni Group Limited. Prior to the closing date of the transaction between the Company and Mercato, Nvni Group Ltd. was a holding company with no active trade or business. Nuvini S.A. maintained all relevant assets and liabilities and incurred all income and expenses. Therefore, the comparable consolidated financial information presented herein represents the consolidated financial statements of Nuvini S.A. On September 29, 2023, Nuvini completed its business combination with Mercato. As a result, Nuvini’s Ordinary Shares and Warrants commenced trading on Nasdaq under the symbols “NVNI” and “NVNIW,” respectively, as of market open on October 2, 2023. In accordance with IFRS 3 Business Combinations Share-Based Payments, The difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired represented a stock exchange listing expense. Accordingly, the financial statements of Nuvini S.A.became the historical financial statements of Nuvini and the assets, liabilities and results of operations of Mercato was consolidated with Nuvini from the Closing Date. Consolidated subsidiaries The following table lists the Company’s subsidiaries as of December 31, 2023. The subsidiaries have share capital consisting solely of ordinary shares that are held directly by the Company, and the proportion of ownership interests held equals the voting rights held by the Company. The country of incorporation or registration is also their principal place of business: Subsidiaries Place of Equity Equity Effecti Tecnologia Web LTDA. (“Effecti”) Brazil 100 % 100 % Leadlovers Tecnologia LTDA. (“Leadlovers”) Brazil 100 % 100 % Ipe Tecnologia LTDA. (“Ipe”) Brazil 100 % 100 % Dataminer Dados, Informacoes E Documentos LTDA (“Datahub”) Brazil 100 % 100 % Onclick Sistemas de Informacao LTDA. (“Onclick”) Brazil 100 % 100 % Simplest Software LTDA (“Mercos”) Brazil 57.91 % 57.91 % Smart NX Brazil 55 % - Nuvini S.A Brazil 100 % - Nuvini LLC United States of America 100 % 100 % Effecti On October 30, 2020, Nuvini acquired 100% of the equity interest of Effecti. Effecti sells access to the “My Effecti” platform, a tool used by companies that wish to participate in bids. Within the platform, bidders can find, register, dispute and monitor the notices issued by the Brazilian federal, state and municipal government through electronic trading sessions. Leadlovers On February 5, 2021, Nuvini acquired 100% of the equity interest of Leadlovers, a company based in Curitiba, Paraná that delivers an all-in-one digital marketing platform. Leadlovers offers a 100% online platform to optimize companies’ digital marketing strategy and assist entrepreneurs in enhancing online sales, allowing them to streamline and automate repetitive marketing processes. Ipe On February 19, 2021, Nuvini acquired 100% of the equity interest in Ipe, a company based in Uberlândia, Minais Gerais, which serves as the largest enterprise resource planning (“ERP”) service provider for eyeglass shops. Ipe offers store owners an ERP system subscription that aims to help manage stores, meet tax obligations and optimize sales. Datahub On February 24, 2021, Nuvini acquired 100% of the equity interest in Datahub, a company based in Tupã, São Paulo that offers an innovative data intelligence platform, uniting cutting-edge technology and new data sources. Datahub utilizes sophisticated and efficient data analytics, machine learning, and customer knowledge to drive efficiencies in marketing, sales, risk, and compliance actions, while prioritizing responsible data management to protect its customers’ business. Onclick On April 22, 2021, Nuvini acquired 100% of the equity interest in Onclick, a company based in Marília, State of São Paulo. Onclick comprises three subsidiaries; Onclick Sistemas de Informacao LTDA, APIE.COMM Tecnologia LTDA (“Apie.comm”), and Commit Consulting LTDA. (“Commit”). Onclick controls 100% of the subsidiaries and they offer the following services to the market: ● A management ERP for retail, e-commerce, industry, distribution and services. ● Business management in technology offering IT solutions and business processes tailored to its customers. ● Complete integration solution to support various technologies involved in e-commerce operations. Mercos On June 30, 2021, Nuvini acquired 100% of the equity interest in Mercos, a software company that organizes and automates the activities of independent sales representatives and sales orders from manufacturers and distributors. Mercos is focused on providing e-commerce and sales solutions for B2B entities. In November 2022, the Company amended the Mercos agreement reselling 42.09% of the Mercos shares to the previous seller. Smart NX On January 25, 2023, and amended on June 8, 2023, and August 1, 2023, Nuvini acquired 55% of the equity interest in Smart NX, a company in Matias Barbosa, Minas Gerais, Brazil. Smart NX operates under two subsidiaries Smart NX and Smart NX LTDA. Smart NX is the directly owned subsidiary. Smart NX is a limited liability company duly organized under the laws of Brazil and based in Matias Barbosa, Minas Gerais, Brazil. Smart NX builds digital client experience journeys that connect B2C companies with their clients via sales billing and client service. Smart NX delivers a full digital journey for its clients for higher client service efficiency, increases in sales and collections, cost reductions through digitalized operation and higher client satisfaction. Nuvini S.A. Nuvini S.A. is a corporation duly incorporated and organized on October 21, 2020, under the laws of Brazil, with its head office at Rua Jesuíno Arruda, No. 769, Suite 20B, Itaim Bibi, São Paulo, Brazil. 04.532-082. Nuvini S.A. acquires and operates software companies within SaaS markets in Brazil. Nuvini S.A. is the leading private serial software business acquirer in Brazil and intends to use funding and capital markets access to continue expanding its acquisition strategy in Brazil and Latin America. Nuvini LLC Nuvini LLC was incorporated on November 9, 2020 in the United States of America to explore opportunities for strategic partnerships abroad. Nuvini LLC has no relevant operations for the years ended December 31, 2023, 2022 and 2021.

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Basis of Presentation [Abstract]
Basis of presentation	Note 2. Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and interpretations issued by the IFRS Interpretations Committee. The financial statements comply with IFRS as issued by the International Accounting Standards Board. The consolidated financial statements consist of the consolidated statement of financial position, the consolidated statement of loss and comprehensive loss, the consolidated statement of changes in equity and the consolidated statement of cash flows and have been prepared under a historical cost basis, except for the valuation of certain assets and liabilities such as those arising from business combinations and according to the accounting practices described in note 3. The consolidated statement of cash flows has been prepared using the indirect method. Intercompany transactions and balances between the Group’s companies are eliminated upon consolidation. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of loss and comprehensive loss, consolidated statement of changes in equity and consolidated statement of financial position, respectively. The issuance of these consolidated financial statements was originally authorized by the Board of Directors on December 24, 2024. Reorganization of Keiretsu and Nuvini On June 30, 2021, Nuvini completed a common control corporate reorganization whereby Keiretsu Tecnologia SA (“Keiretsu”), a joint-stock holding company with no operations and headquartered in the City of São Paulo, State of São Paulo, and owner of 100% of the capital stock of Nuvini, was merged into Nuvini, with Nuvini being the surviving entity. The reorganization and merger was approved by the shareholders of Nuvini and the shareholders of Keiretsu at the respective extraordinary general shareholder meetings held on June 30, 2021. The management team of Nuvini and Keiretsu had concluded that merger would bring advantages to both Nuvini and Keiretsu and their shareholders, resulting in greater operational, administrative, and financial efficiency, with a reduction in operating costs for Nuvini. The merger was completed through a share exchange transaction, whereby each share previously held by the Keiretsu shareholders was exchanged for one Nuvini share, with no change to their proportional interests in Nuvini. As a result, the net liabilities of Keiretsu of R$109,869 on the date of the share exchange, including the contingent consideration relating to the Effecti acquisition completed in 2020 that had been assumed by Keiretsu, were assumed by Nuvini. As Keiretsu and Nuvini were entities under common control for the periods presented in these consolidated financial statements, the reorganization and merger has been evaluated as a business combination under common F-57 control (“BUCC”). IFRS currently does not have authoritative guidance related to the accounting and reporting for BUCC’s. The Group’s management team (“Management”) has elected to account for the reorganization as a merger based on the historical accounting basis of the assets and liabilities assumed. The consolidated financial statements have been presented as if the reorganization and merger had been affected as of January 1, 2021. Going concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Nuvini is a holding company that conducts its business through its acquired operating subsidiaries and derives all of its revenues from the Nuvini Acquired Companies’ proprietary SaaS businesses, which consist of revenue from fees paid by the Nuvini Acquired Companies’ customers for using the Nuvini Acquired Companies’ proprietary software. The Company is an early-stage company and since inception has incurred operating losses. For the years ended December 31, 2023, 2022 and 2021, the Company incurred a net loss of R$(247,862), R$(114,206) and R$(77,699), respectively, and on December 31, 2023 and 2022, the Company had a working capital deficit of R$(308,579) and R$(311,821), respectively and shareholders’ deficit of R$(53,629) and R$(94,961), respectively. Management believes it will continue to incur operating and net losses at least for the medium term. To date, Nuvini has met its operations funding requirements primarily through the issuance of equity capital, loans and borrowings from financial institutions and related parties (including its CEO), private placements of debentures, deferred and/or contingent payment on acquisitions, and the issuance of subscription rights to investors, as well as from revenue generated from the Group’s operations. Nuvini S.A. holds debt in the Brazilian reais currency (R$) and financial instruments are not typically used for hedging purposes. As discussed in notes 13 and 15, on December 31, 2023 the Company had current debt obligations outstanding of R$66,024 and R$62,857 on December 31, 2022, which included the entire balance of amounts owed under the debentures issued in 2021 and due in 2026, as the Company was not in compliance with financial covenants associated with the debentures at December 31, 2023 or 2022 and the balances due on loans that mature in 2024 and short-term obligations under related party loans (see note 9 for further details). The Company issued equity in shares in exchange for the partial acquisition of Smart NX in 2023. On December 31, 2023, the Company had cash and cash equivalents, including short-term investments, of R$11,398. The Company’s future profitability and liquidity is particularly dependent upon the organic growth and operating performance of the Nuvini Acquired Companies and the expansion of its businesses through additional acquisitions of SaaS companies or SaaS-related assets. The Company cannot be certain when or if its operations will generate sufficient cash to fully fund its ongoing operations or the growth of its business. The Company’s business will likely require significant additional amounts of capital resources to sustain and expand operations to generate sufficient cash flow to meet its obligations on a timely basis The Company has determined that these factors raise substantial doubt about its ability to continue as a going concern. As further discussed at note 15, the debenture holders have subsequently granted the Company’s request to waive the 2022 and 2023 covenant violations. Additionally, as further discussed at notes 5 and 6, the Company has and continues to take additional steps to preserve liquidity and manage cash flows by amending the terms of amounts payable or contingently payable under the purchase and sale agreements with sellers for all of its acquisitions. These amendments have included extension and/or further deferral of payment installments, as well as modification of the terms to contemplate a portion of the amounts due to be payable in shares of Nvni Group Limited, as applicable (see also note 5). Nuvini S.A. cannot extend or revise the terms of the deferred and contingent consideration, Nuvini S.A. would raise debt to satisfy any deferred and contingent consideration obligations. As discussed in note 9, the Company also has loans with the Group’s CEO. In December 2022, all amounts payable under these loans, amounting to R$16,799, were converted into subscription rights. After the subscription rights conversion, the Company then received an additional loan from the CEO of R$3,200 in December 2022 and another loan of R$3,300 in February 2023. In July 2023, the Company received an additional loan of R$1,039, totaling R$8,890 outstanding for loans to Nuvini’s CEO as of December 31, 2023. The Company also was able to obtain loans from investors (as detailed in note 14) in the amount of R$7,407. While the Company continues to seek other alternative capital and financing sources and implement steps to preserve liquidity and manage cash flows, there can be no assurance that these or additional capital and financing resources, continued waivers of covenant violations under the debentures agreement, or further extensions or modifications of payment terms of seller acquisition financing will be available to the Company on commercially acceptable terms, or at all. If the Company raises funds to pay any of its obligations by issuing additional equity securities, dilution to stockholders may result. The terms of debt securities or borrowings could impose significant additional restrictions on operations. If the Company is unable to obtain adequate capital resources to fund operations, it would not be able to continue to operate its business pursuant to its current business plan, which may require reductions in spending to a sustainable level by, among other things, delaying, scaling back or eliminating some or all its planned investments in business development, sales and marketing, research and development, and other activities, which could have a material impact on its operations and limit its ability to fully execute its business acquisition strategy, which may directly and negatively affect its business, operating and financial results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of significant accounting policies	Note 3. Summary of significant accounting policies Basis of consolidation As of December 31, 2023, 2022 and 2021, the consolidated financial statements include information from the subsidiaries Effecti, Leadlovers, Ipe, Datahub, Mercos, Onclick, Nuvini LLC, Nuvini S.A. and Smart NX. The consolidated financial statements incorporate the financial positions and the operational results of subsidiaries that the Group controls. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains on transactions between the Company and its subsidiaries are eliminated, if applicable. Functional currency and presentation currency The items included in the Group’s financial statements are measured using the currency of the main economic environment in which the Group operates (its “functional currency”). The financial statements are presented in thousands of Brazilian Reais (R$), which is the functional currency of the Group. Business combinations Business acquisitions are accounted for using the acquisition method. The Group determines that it has acquired a business, rather than a group of assets, when the acquired set of assets and activities include an input and a substantive process that together significantly contribute to the ability to create outputs. Acquisition-related costs are expensed when incurred. The consideration transferred in a business combination is measured at fair value. On the acquisition date, identifiable assets acquired and liabilities assumed are recognized at fair value on the acquisition date, unless otherwise stated. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. When consideration transferred by the Group in a business combination includes an obligation of the Group to provide additional payments to the sellers based on future performance of the business sold or services to the Group (a contingent consideration, as described in note 5), the Group evaluates whether the contingent consideration should be accounted for as compensation for post-combination services or contingent consideration and included in consideration transferred in accordance with IFRS 3—Business Combinations (“IFRS 3”). If the Group determines the arrangement is contingent consideration, the arrangement is further evaluated to see if the payments should be accounted for as an additional cash consideration or equity interests to the former owners (seller) if certain future events occur. The current arrangements resulting from the acquisitions detailed in note 6 have been accounted for as contingent consideration, are measured at fair value at the acquisition date and included in the consideration transferred. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retroactively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the measurement period (which cannot exceed one year from the acquisition date), related to facts and circumstances that existed at the acquisition date. Deferred and Contingent considerations are remeasured at fair value at subsequent reporting dates and changes in fair value are recognized in profit or loss. Deferred consideration that are based on fixed contractual amounts are at amortized cost. If the initial accounting for a business combination is incomplete at the end of the period in which the combination occurred, the Group records provisional amounts based on estimated or projected values for items for which accounting is incomplete. These provisional amounts are adjusted during the measurement period or additional assets and liabilities are recognized to reflect new information obtained relating to facts and circumstances existing at the acquisition date, which, if known, would have affected the amounts recognized on that date. Financial instruments Financial assets and financial liabilities are recognized in the Group’s statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets are presented as current assets, except those with maturity of more than 12 months after the balance sheet date. The classification of the Group’s financial assets and liabilities is detailed in note 6. Financial assets All recognized financial assets are measured subsequently in their entirety at either amortized cost or fair value, depending on the classification of the financial assets. Classification of financial assets Financial assets that meet the following conditions are measured subsequently at amortized cost: ● The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows. ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets that meet the following conditions are measured subsequently at fair value through other comprehensive income (“FVTOCI”): ● The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets. ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. By default, all other financial assets are measured subsequently at fair value through profit or loss (“FVTPL”). Despite the foregoing, the Group may make the following irrevocable election/designation at initial recognition of a financial asset: ● The Group may irrevocably elect to present subsequent changes in fair value of an equity investment in other comprehensive income if certain criteria are met. ● The Group may irrevocably designate an investment that meets the amortized cost or FVTOCI criteria as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch. Amortized cost and effective interest method The effective interest method is a method of calculating the amortized cost of a financial instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses, through the expected life of the financial instrument, or, where appropriate, a shorter period, to the gross carrying amount of the financial instrument on initial recognition. Interest income is recognized using the effective interest rate for financial assets measured subsequently at amortized cost and at FVTOCI. Interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become credit-impaired. For financial assets that have subsequently become credit-impaired, interest income is recognized by applying the effective interest rate to the amortized cost of the financial asset. If, in subsequent reporting periods, the credit risk on the credit-impaired financial instrument improves so that the financial asset is no longer credit- impaired, interest income is recognized by applying the effective interest rate to the gross carrying amount of the financial asset. Financial assets at FVTPL Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss. The net gain or loss recognized in profit or loss includes any dividend or interest earned on the financial asset and is included in financial income and expense on the income statement. Impairment of financial assets The Group recognizes a provision for expected credit losses (“ECL”) on trade receivables and contract assets measured under IFRS 15. To measure the expected credit losses, trade receivables and contract assets have been grouped as they have substantially the same risk characteristics and are related to the same types of contracts; therefore, the expected loss rates for trade receivables are a reasonable approximation of the loss rates for the contract assets. The Group applies the ’simplified’ approach to measure the ECL, since the Group’s trade receivables do not include a significant financing component and are not considered to be complex. The Group therefore recognizes the lifetime expected credit losses over the life of the trade accounts receivable and other assets. The Group evaluates whether ECL would be required to be recorded for other assets periodically and on an individual basis. The nature of the Group’s SaaS business model mitigates the risk of credit losses, as customers usually pay in advance or have payment terms from 30-60 days. The Group estimates expected credit losses by taking into consideration historical credit losses experienced by aging and maturity categories based on contract or invoice payment due dates and financial factors specific to the customers, as well as general economic conditions. Write-off policy The Group writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over 3 months past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures and applicable legislation where appropriate. Any provisions and recoveries made are recognized in general and administrative expenses in profit or loss. Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. Financial liabilities and equity Classification as financial liability or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the terms and substance of the contractual arrangements. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group are recognized at the proceeds received, net of direct issue costs. A repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments. Financial liabilities Financial liabilities are subsequently measured (i) at amortized cost using the effective interest rate method or (ii) at FVTPL. ● Financial liabilities at FVTPL: Financial liabilities are classified at FVTPL when the financial liability is (i) a contingent consideration of a buyer in a business combination that is classified as a liability, (ii) held for trading, or (iii) designated at FVTPL. As of December 31, 2023, and 2022, the Group had financial liabilities designated at FVTPL recorded in the financial statements related to the contingent consideration related to the acquisition of equity interests in the subsidiaries, as detailed in notes 6 and 7. ● Financial liabilities at amortized cost: Financial liabilities other than (i) contingent consideration of a buyer in a business combination that is classified as a liability or, (ii) assigned to FVTPL are subsequently measured at the amortized cost using the effective interest rate method. Derecognition of financial liabilities The Group derecognizes financial liabilities only when its obligations are extinguished and canceled. The difference between the carrying amount of the financial liability and the consideration paid and payable is recognized in profit or loss. Derivatives Derivatives are recognized initially at fair value at the date the derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognized in profit or loss immediately. A derivative with a positive fair value is recognized as a financial asset, whereas, a derivative with a negative fair value is recognized as a financial liability. A derivative is presented as a non-current asset or non-current liability if the remaining maturity of the instrument is more than 12 months and is not due to be realized or settled within 12 months. Fair value measurement The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. The Group measures financial instruments at fair value on each balance sheet closing date. Fair value is the price that would be received by the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the assumption that the transaction to sell the asset or transfer the liability will occur (i) in the principal market for the asset or liability, or, in the absence of a main market, (ii) in the market most advantageous to the asset or liability. Measuring the fair value of a non-financial asset takes into account the ability of the market participant to generate economic benefits using the asset at its best possible use or by selling it to another market participant who would use the asset at its best use. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy described below, based on the lowest level information that is significant to the measurement of the fair value as a whole. ● Level 1—Quoted (unadjusted) market prices in active markets for identical assets or liabilities. ● Level 2—Evaluation techniques for which the lowest and most significant level information for measuring fair value is directly or indirectly observable. ● Level 3—Evaluation techniques for which the lowest and most significant level information for fair value measurement is not available. If all significant inputs required to measure the fair value of an instrument are observable, the instrument is included in level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. The fair value of the contingent consideration classified as level 3 is calculated based on the judgment of the Group and the probability of meeting the goals of the acquisition made during the year. The fair value is based on a business plan agreed to by Management and the seller of the acquired company, that includes projected revenue balances individual to each subsidiary and therefore is not deemed observable market data. For assets and liabilities recognized in the financial statements at fair value on a recurring basis, the Group determines whether there have been transfers between hierarchy levels, reassessing categorization (based on the lower and most significant level information for the fair value measurement as a whole) at the end of each reporting period. Goodwill Goodwill is initially recognized and measured as described above in business combinations. Goodwill is not amortized, but is tested for impairment at least annually, or when circumstances indicate an impairment loss. For the purposes of the impairment test, goodwill is allocated to each of the Group’s cash generating units (“CGUs”). To determine the CGU, assets are grouped at the lowest levels for which there are independent cash flows. For purposes of this test, goodwill is allocated to the CGUs or groups of CGUs that will benefit from the synergies of the combination. The CGUs identified were Effecti, Ipe, Leadlovers, Datahub, Onclick, Mercos, as of January 2023, Smart NX. An impairment loss exists when the book value of the CGU exceeds its recoverable amount, which is the higher of the fair value less selling expenses and the value in use. If the recoverable amount of the CGU is less than the carrying amount, the impairment loss is first allocated to reduce the carrying amount of the goodwill allocated to the unit and, subsequently, to the other assets of the unit, proportionally to the carrying amount of each of the assets. Goodwill impairment losses are recognized in the period they are incurred. Impairment losses recognized for goodwill cannot be reversed in a subsequent period. On disposal of the CGU, the attributable value of goodwill is included in the calculation of profit or loss on disposal. Intangible assets, net Recognition and measurement Intangible assets acquired separately are measured at cost upon initial recognition. The cost of intangible assets acquired in a business combination corresponds to the fair value on the acquisition date. After initial recognition, intangible assets are stated at cost, less accumulated amortization and accumulated impairment losses. Internally generated intangible assets, excluding capitalized development costs, are not capitalized, and the expense is reflected in the statement of income in the year in which it is incurred. The useful life of an intangible asset is assessed as finite or indefinite. Intangible assets with finite lives are amortized on a straight-line basis over their economic useful lives and assessed for impairment whenever there is an indication of loss of economic value of the asset. The amortization period and method for an intangible asset with a finite life are reviewed, at least, at the end of each fiscal year. Changes in the estimated useful life or in the expected consumption of the future economic benefits of these assets are accounted for through changes in the amortization period or method, as the case may be, and are treated as changes in accounting estimates. Amortization of intangible assets with finite useful lives is recognized in the income statement within the general and administrative expenses category with the exception of the amortization of technology software and customer relationships intangible assets included in cost of sales expense category. Intangible assets with indefinite useful lives, such as goodwill, are not amortized, but are tested at least annually or when circumstances indicate loss due to devaluation of the asset in relation to losses due to reduction to its recoverable value, individually or at the level of the CGU. The indefinite life assessment is reviewed annually to determine whether this assessment remains justifiable. Otherwise, the change in useful life from indefinite to finite is made prospectively. As of December 31, 2023, 2022 and 2021, the following asset types have finite useful lives and the average useful lives applied by the Group remain unchanged as shown below: Category: Useful life (years) Technology software 5-10 Brands 22-25 Customer relationships 3-17 Non-competition agreements 5-6 An intangible asset is derecognized at the time of its sale (that is, the date on which the beneficiary obtains control of the related asset) or when no future economic benefits are expected from its use or sale. Any gain or loss resulting from the derecognition of the asset is recognized in the statement of profit or loss for the year. Subsequent expenses Subsequent expenses are capitalized only when they increase the future economic benefits incorporated into the specific asset to which they relate. All other expenses, including expenses with generated goodwill, trademarks and patents, are recognized in net profit or loss as incurred. Property and equipment, net Recognition and measurement Assets are measured at the historical cost of acquisition or construction, less accumulated depreciation and any accumulated losses due to impairment. When significant parts of an asset item have different useful lives, they are recorded as separate items of the asset. Any gains or losses on the disposal of an asset are recognized in net profit or loss. Subsequent costs Subsequent costs are capitalized only when it is likely that the future economic benefits associated with cost will be earned by the Group. Depreciation Depreciation is recognized using the straight-line method based on the estimated useful life of the assets and the assets’ residual values. As of December 31, 2023, 2022 and 2021, the average useful lives applied by the Group are the following: Category: Useful life Machinery and equipment 3 Furniture 10 Computer and peripherals 5 Facilities 10 Vehicles 10 Depreciation methods, useful lives and residual values are reviewed at each balance sheet date and adjusted where appropriate. Leases The Group assesses whether a contract is, or contains, a lease, at inception of the contract. The Group recognizes a right-of-use asset (which includes real estate and office buildings) and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate. Lease payments include fixed payments (including substantially fixed payments) minus any rental incentives to be received, variable lease payments that are based on an index or a rate and expected amounts to be paid under residual value guarantees. The right-of-use assets comprises the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: ● The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is re-measured by discounting the revised lease payments using a revised discount rate. ● The lease payments change due to changes in an index or rate, in which case the lease liability is re-measured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). ● If a lease contract is modified and the lease modification is not accounted for as a separate lease, the lease liability is re-measured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. Research and development Research expenses are recognized when incurred, and development expenses linked to technological innovations of software are capitalized when all of the following aspects are met: ● Technical feasibility can be demonstrated to complete the asset so that it is made available for use or sale. ● The Group has the ability to complete the intangible asset and intends to use or sell it. ● The way in which intangible assets will generate future economic benefits can be demonstrated ● Technical, financial and other adequate resources to complete the development and use or sale of intangible assets are available. ● The Group has the ability to reliably measure the expenses attributable to intangible assets during its development. Capitalized expenses, when the criteria described above are met, include labor costs that are directly attributable to the preparation of the asset. Development activities involve a plan or project aimed at producing new products for sale or enhancing a platform for use. All development costs, including intangible assets under development, have been internally generated by the Group, such as enhancing software features. The Group’s activity supported continuous development of the business processes focused on sales, marketing and customer service within the subsidiaries Onclick, Leadlovers and Mercos. Development costs are capitalized at cost and amortized over the useful life of the asset. Any capitalized development costs are evaluated for impairment at least annually. Cash and cash equivalents Cash and cash equivalents include cash, cash deposits, and temporary short-term investments. Cash and cash equivalents together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are considered immediately convertible into a known amount of cash and are subject to a negligible risk of change in value. Cash and cash equivalents are recorded at cost plus income earned up to the balance sheet date, which does not exceed its market value or realizable value. Trade accounts receivable, net Trade receivables are amounts due from customers for services performed in the ordinary course of business. Trade receivables are recognized initially at the transaction price unless they contain significant financing components when they are recognized at fair value plus, when applicable, a monetary variation for foreign currency adjustment incurred during the reporting period. The Group’s receivables come from the provision of services provided based on the customer’s terms of acceptance after the performance obligations have been met. They are generally due for settlement within 30 to 60 days and are therefore all classified as current assets. The Group estimates expected credit losses as described in note 3. Accounts payable to suppliers Accounts payable are stated at known amounts, plus, when applicable, a monetary variation for foreign currency adjustment incurred during the reporting period. Other assets and liabilities Other assets and liabilities are shown as known or calculable amounts, plus, where applicable, the corresponding income (charges) earned (incurred) up to the balance sheet date. The non-current assets and liabilities are classified in non-current assets and liabilities, respectively, and represent realizable rights and obligations payable after twelve months. Revenue recognition Revenue is measured in accordance with IFRS 15—Revenue from Contracts with Customers (“IFRS 15”), which establishes five-step model for measuring and recognizing revenue from contracts with customers. The Group has adopted the practical expedient to apply IFRS 15 to a portfolio of contracts. The Group’s reported revenue is mainly attributable to software subscription and licensing revenues, including licensing fees, revenue from maintenance and product support services, customization and consulting services. The Group applies certain judgment in assessing the terms of revenue from contracts with customers. Revenues are recognized when there is a contract with the customer, the performance obligations are identified, the transaction price is reliably measurable and allocated, and when the control of the goods or services are transferred to the customer. For all contracts, the Group obtains formal evidence of customer acceptance of the service. Revenue stemming from software licensing is recognized after the software is made available to the customer, its value can be reliably measured (as per the terms of the agreement) and it is likely that future economic benefits will be generated in favor of the Group. The Group evaluates each contract individually, its critical terms and business relationship with its customer and any associated third party. Revenue from customization and consulting services are recognized as services are provided, according to the terms of the service contracts. Cases in which the service was provided, but not yet invoiced, are recorded as services to be invoiced under accounts receivable as contract assets. Cases in which services have not been provided but payment has been received, are recorded as a contract liability, herein referred to as “deferred revenue”, for services to be delivered in the future. Revenue is presented net of taxes, discounts, refunds and cancellations, when applicable. For specific subsidiaries of the Group (i.e. Leadlovers), standard contract terms state that customers have a right of refund within 30 days. At the point of sale, a refund liability and a corresponding adjustment to revenue is recognized for those products expected to be returned. Early pay discounts are not granted to customers, however a promotional discount to promote Holiday sales was granted in December 2023 and 2022, the total discounts given were immaterial and are recorded as a reduction to total revenue. All transaction prices are fixed and do not include variable pricing, apart from the transaction price for Effecti customers which includes a variable component where customers are offered a temporary discount if the customer has a valid expectation of a price concession. The discount granted to customers is immaterial as of December 31, 2023, 2022 and 2021. Revenue is not recognized if there is significant uncertainty in its realization. The Group separate revenues into (i) SaaS platform subscription services and (ii) data analytic

Adoption of New and Revised Acc

Adoption of New and Revised Accounting Standards	12 Months Ended
	Dec. 31, 2023
Adoption of New and Revised Accounting Standards [Abstract]
Adoption of new and revised accounting standards	Note 4. Adoption of new and revised accounting standards New standards, changes and interpretations in force current period The Group’s Management has evaluated the impacts of the following revisions of standards and understands that its adoption has not caused a material impact and/or is not relevant to its financial statements. ● IFRS 17, IAS 8, IAS 1 and IFRS Practice Statement 2, IAS 12—Applicable for annual years or periods beginning on or after January 1, 2023. ● Changes to IFRS 16, IAS 1, IAS 7 and IFRS 7— Applicable for annual years or periods beginning on or after January 1, 2024. New standards not yet in force and/or adopted On the date of authorization of these financial statements, the Group has not adopted the following new and revised standards under IFRS, already issued and not yet in force and/or applicable. Management does not expect the adoption of the following standards to have a material impact on the Group’s financial statements in future periods. Pronouncement Description Amendment to IAS 7 Supplier Finance Arrangements - Statement of cash flows – Financial instruments Amendment to IFRS 16 Lease Liability in a Sale and Leaseback Amendment IAS 1 Classification of Liabilities as Current or Non-Current Amendment IAS 21 Lack of Exchangeability -The effects of changes in exchange rates Amendments to IAS 12 Income Taxes—Deferred Tax Related to Assets and Liabilities related to Pillar Two rules IAS 10 and IAS 28 Investments in Associates and Joint Ventures -Investments in associates and enterprises in set: Alignment of the wording of the aforementioned standards

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Business combinations	Note 5. Business combinations On January 25, 2023, Nuvini S.A. entered into a business combination agreement with Smart NX, which was unanimously approved by Nuvini S.A.’s Board of Directors. The transaction consists of a payment in shares of Nuvini S.A. for 55% of Smart NX with a call option to purchase the remaining 45% of the total capital stock of Smart NX to be paid in three installments on January 25, 2024, January 25, 2025, and January 25, 2026, for a variable consideration based on multiples of future Smart NX EBITDA. The acquisition was not deemed significant and was classified as a non-cash transaction. Fair value of identifiable assets and assumed liabilities The table below summarizes the fair values of acquired assets and liabilities assumed on the respective date of acquisition: Recognized amounts of identifiable assets acquired and liabilities assumed: Smart NX Assets Cash and cash equivalents 998 Accounts receivable 3,061 Property and equipment 172 Right-of-use asset 107 Brand (*) 1,935 Customer relationships (*) 1,685 Technology software (*) 2,581 Other current assets 5,545 Other non-current assets 1,204 Total—Assets 17,288 Liabilities Accounts payable to suppliers 894 Labor obligations 776 Tax obligations 940 Lease liabilities 118 Loans and financing 40 Deferred tax 2,421 Other current liabilities 28 Provisions 1,184 Total—Liabilities 6,401 Goodwill 15,960 Net assets acquired 26,847 As discussed in note 1, the Company completed several acquisitions in prior years, which resulted in deferred and contingent consideration arrangements. The deferred consideration consists of fixed future cash payments due to sellers from the date of acquisition, according to the terms of the sale and purchase agreement. The contingent consideration consists of estimated future cash payments due to sellers of each respective business combination according to the terms of each respective sale and purchase agreement for the business combinations and is recorded at fair value until the contingency has been resolved, with changes in fair value included in contingent consideration financial adjustment in the consolidated statement of loss. The Group’s current and non-current liabilities payable under the deferred and contingent consideration arrangements as of December 31, 2023, and 2022 are detailed as follows: Year ended December 31, 2023 2022 Current deferred and contingent consideration: Effecti 106,096 90,456 Leadlovers 44,021 46,937 Ipe 34,770 19,690 Datahub 23,088 20,377 Mercos - - Onclick 19,102 17,512 Smart NX - - Total current deferred and contingent consideration 227,077 194,972 Non-current deferred and contingent consideration: Leadlovers - 17,229 Ipe - 11,612 Datahub - 6,662 Onclick - 4,481 Smart NX 5,000 - Total non-current deferred and contingent consideration 5,000 39,984 The contingent portions of this consideration is accounted for as FVTPL and categorized as a level 3 financial liability, as described in note 6. The deferred portion (relating to fixed amounts) is accounted for as amortized cost. The following table shows a reconciliation of the beginning and ending balances of the deferred and contingent consideration including level 3 fair value measurements. Balance on January 1, 2021 78,214 Initial recognition of deferred and contingent consideration relating to acquisitions 175,561 Initial recognition of deferred and fixed consideration relating to acquisitions 15,665 Payments (10,500 ) Contingent consideration adjustment 32,365 Balance on December 31, 2021 291,305 Payments (9,898 ) Contingent consideration adjustment 16,294 Derecognition of Mercos deferred and contingent consideration (note 5 and 17) (62,745 ) Balance on December 31, 2022 234,956 Initial recognition of deferred and contingent consideration relating to acquisitions 5,000 Payments (6,215 ) Deferred and contingent consideration converted to equity (39,502 ) Contingent consideration adjustment 13,212 Interest 24,626 Balance on December 31, 2023 232,077 The terms of the applicable deferred and contingent consideration as of the dates of the respective acquisitions were as follows: ● Effecti, Leadlovers and Ipe: the sellers will receive a cash payment in annual installments over a 3-year period from the date of acquisition, which is calculated as a multiple of 7.4 times the last 12-months revenue earned by the acquiree. The maximum payment for the contingent consideration is not capped. ● Onclick : ● Datahub : To preserve liquidity and manage cash flows the Company renegotiated the terms of amounts payable or contingently payable under the purchase and sale agreements with sellers for certain acquisitions. On November 11, 2022, the Company amended the agreement with the sellers of Mercos to eliminate the contingent consideration payment in exchange for the return of 42.09% of the Mercos shares to the sellers and retaining a call option on those shares. The call option provides the Company the right to repurchase the shares at any time until December 31, 2024, for a total price based on 7.6x the revenue of Mercos for the preceding 12 months. In connection therewith, the Company paid cash, which was applied to reduce the contingent consideration which existed prior to the transaction. This amendment originated the recognition of a non-controlling interest, which is disclosed in detail in note 17. On October 8, 2023, the Company made a payment of R$22,000 to the founding partners of Mercos, as part of the purchase agreement for the remaining Mercos shares estimated at R$66,000. The partial payment would result in an increase in equity ownership of approximately 8%. However, as full payment of the estimated shares was not received, the Company has entered into negotiations with Mercos to discuss settlement options. The partial payment has been recorded as an advanced payment in assets. As of December 31, 2023, the Company has not reached a negotiated settlement or treatment of the advanced payment. Amendments to the deferred and contingent consideration on acquisitions arrangements were completed as follows: Leadlovers Onclick Effecti Datahub— Ipe—

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Financial instruments	Note 6. Financial instruments The classification of financial instruments is presented in the following table. There are no financial instruments classified in categories other than those reported: Classification Level 12/31/2023 12/31/2022 Financial liabilities: Derivative warrants (note 17) FVTPL Level 1 4,464 - Contingent consideration on acquisitions (note 5) FVTPL Level 3 144,526 116,238 Exposure premium - debentures (note 15) FVTPL Level 3 1,835 841 Subscription rights (note 17) FVTPL Level 3 - 39,343 Deferred consideration on acquisitions (note 5) Amortized cost 87,551 118,718 Loans and financing (note 13) Amortized cost 5,289 1,807 Debentures (note 15) Amortized cost 51,197 60,873 Related parties (note 9) Amortized cost 9,867 4,078 Gains and losses on financial instruments that are measured at FVTPL are recognized as financial income or expense in the statement of profit or loss for the period. The carrying amount of the Group’s financial assets approximates fair value as of December 31, 2023, and 2022. There were no transfers between measurement levels in the fair value hierarchy for the period ending December 31, 2023. As of December 31, 2022, a partial balance of the contingent consideration on acquisitions was transferred from Level 3 to Amortized Cost. The reclassification was made as the terms of the remeasurement of the deferred and contingent consideration contained fixed payments. Measurement and reconciliation of level 3 financial liabilities Balance at January 1, 2021 78,214 Additions 223,230 Payments (10,500 ) Balance at December 31, 2021 290,944 Additions 35,846 Payments (9,898 ) Derecognition of Mercos deferred and contingent consideration (62,745 ) Transfer of contingent consideration to Amortized Cost (97,725 ) Balance at December 31, 2022 156,422 Additions 29,282 Transfer to equity (converted in shares) (35,410 ) Write off in the P&L (3,933 ) Balance at December 31, 2023 146,361 When valuing its level 3 liabilities, Management’s estimation of fair value is based on the best information available in the circumstances and may incorporate Management’s own assumptions around market demand involving judgment, taking into consideration a combination of internal and external factors. During the years ended December 31, 2023, and 2022, the methods, assumptions, and significant unobservable inputs used in the fair value measurement categorized within level 3 of the fair value hierarchy were the following: Valuation technique Significant unobservable input Relationship of inputs to fair value Contingent consideration on acquisitions Income approach- Revenue multiples Weighted average cost of capital, projected future revenues The higher the weighted average cost of capital, the lower the fair value. The higher the revenue projections, the higher the fair value. Exposure premium Income approach- Monte carlo Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value. Subscription rights Income approach- Monte carlo Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value. Financial risk management The Group is exposed to various financial risks relating to its business operations. The overall focus on risk management is mitigating unpredictable financial market risks and seeks to minimize potential adverse effects on financial performance. Risk management is overseen by the Group’s finance department, according to the policies approved by the Board of Directors. The department identifies, measures, evaluates and protects the Group against any financial risks. The Board of Directors provides financial oversight and supervision to the Group and its subsidiaries. As of December 31, 2023, the Group has elected an Audit Committee, consisting of three participants, with one participant acting as Audit Committee Chair. Credit risk Credit risk is the Group’s risk of financial loss if a customer or counterparty to a financial instrument fails to comply with its contractual obligations, which arise mainly from customer receivables. The Group has a very diversified client portfolio with a high concentration of recurring revenue from key customers, none of which represent more than 10% of net revenue. The Group is responsible for managing and analyzing the credit risk for each new client before standard payment and delivery terms and conditions are offered. As subscription prices on recurring sales are low in materiality and many clients currently pay via credit card representing immediate payment, the credit risk of the customer base is relatively low. Therefore, Management doesn’t perform individual credit quality checks of each customer. However, if a customer defaults on service payments past two months of service, the Group will pause the customer’s service until payment is received, limiting the volume of past due receivables. It is only when the customer pays all past due balances that the Group will reinstate services. Although the products and services in which a customer purchases are similar, they operate within different industry markets and subject to different operational conditions. As the nature of the products and services sold are SaaS platform based, geographical impacts to the region in which these customers reside do not cause for greater credit risk. The Group adopts the assumption under IFRS 9, for credit losses on receivables that default occurs when the contract payments with customers are past due over 90 days. Longer payment terms are given to customers and default is unlikely even though the contract payments are past due within one year in the past because of the industry characteristics of the Group and positive long-term relationship with customers. Therefore, a more lagging default criterion is appropriate to determine the risk of default occurring. The Group’s credit risk exposure in relation to contract assets under IFRS 9 at December 31, 2023, and 2022 is immaterial. Liquidity risk Liquidity risk is the risk in which the Group will encounter difficulties in complying with the obligations associated with its financial liabilities that are settled with cash payments or other financial assets. The approach of the Group in liquidity management is to ensure, as much as possible, that it always has sufficient liquidity to meet its obligations, under normal conditions, without causing unacceptable losses or with the risk of harming the Group’s reputation. The Group does not expect the timing of occurrence of the cash flows estimated through the maturity date analysis will be significantly earlier, nor expect the actual cash flow amounts will be significantly different, although actual payments may vary depending on market conditions and the Group’s future performance. The table below analyzes the Group’s financial liabilities by maturity ranges corresponding to the remaining period between the balance sheet date and the contractual maturity date. There are no financial liabilities exceeding three years, as the failure of the Group to meet covenants associated with the debentures outstanding resulted in the acceleration of the maturity of the debentures (see note 15 for additional information). Additionally, refer to note 2 for consideration 1 to 3 relating to going concern. 12/31/2023 Less than 1 to 3 years Total Liabilities Accounts payable to suppliers 47,133 - 47,133 Other liabilities 852 - 852 Loans and financing 4,960 329 5,289 Debentures (i) 51,197 - 51,197 Deferred and contingent consideration 227,077 5,000 232,077 Lease liabilities 742 777 1,519 Related parties 9,867 - 9,867 Total 341,828 6,106 347,934 12/31/2022 Less than 1 to 3 years Total Liabilities Accounts payable to suppliers 7,283 - 7,283 Other liabilities 1,390 2,160 3,550 Loans and financing 841 728 1,569 Debentures (i) 61,161 - 61,161 Deferred and contingent consideration 194,138 46,484 240,622 Subscription rights 31,477 - 31,477 Lease liabilities 976 611 1,587 Related parties - 3,900 3,900 Total 297,266 53,883 351,149 (i) The Company was not in compliance with the related financial covenants under the debentures on December 31, 2023, and 2022, and the amounts owed under the debentures are classified as current. Refer to Note 15 for details relating to these covenants and waiver obtained by the Company. Contractual principal payments are due quarterly beginning in May 2023 with final maturity in May 2026, as follows: Less than 1 to 3 years 3 to 5 years Total Liabilities Debentures - 51,197 - 51,197 Market risk Interest rate risk and inflation Interest rate risk stems from financial investments, loans and financing and debentures whose interest rates are referenced to the average of interbank overnight rates in Brazil (“CDI”), which can negatively affect financial expenses or revenues in the event of an unfavorable movement in interest rates and inflation. Inflation affects our results of operations and financial performance primarily by affecting certain leasing arrangements that include inflation-adjustment clauses. Sensitivity analysis The Group performed a sensitivity analysis regarding exposure to interest rate risk as of December 31, 2023, and 2022. The 10% increase or reduction in interest rates would result in an increase or actual reduction of no more than 1% on the risk of total exposure. Therefore, Management believes that any fluctuation in interest rates would not represent any significant impact on the Group’s results. For the analysis of interest rate sensitivity of financial investments, the “probable” scenario below represents the impact on financial investments as of December 31, 2023, and 2022 considering the projected forecast of the CDI rate and reflects management’s best estimates. The CDI rate as of December 31, 2023, is 13.03% and December 31, 2022, is 12.39%. The other scenarios consider an appreciation of 25% and 50% in such market interest rates, which represents a significant change in the probable scenario for sensitivity purposes. Estimating an increase or a decrease of (i) projected forecast, (ii) 25% or (iii) 50% in interest rate, would increase or decrease profit or loss as follows: Scenario I Scenario II Scenario III (Probable) (ii) +/-25% +/-50% Potential net effect on profit or loss 1,264 47 (1,172 ) Exposure Scenario I Scenario II Scenario III Indicators 12/31/2023 Spot rates (i) (Probable) (ii) +/-25% +/-50% Assets 11.77 % 9.34 % 11.68 % 14.01 % Short-term investments—101% of CDI 8,339 (202 ) (7 ) 187 Exposure to CDI—Assets 8,339 (202 ) (7 ) 187 Liability 11.65 % 9.25 % 11.56 % 13.88 % Related parties—100% of CDI (9,867 ) 237 9 (220 ) Debentures—100% of CDI (51,197 ) 1,229 45 (1,139 ) Exposure to CDI—Liabilities (61,064 ) 1,466 54 (1,359 ) Net exposure (52,725 ) 1,264 47 (1,172 ) (i) Based on spot rate, as of the date of this financial statements, as published by the Central Bank of Brazil. (ii) Based on the projected forecast, as of December 31, 2023, as published by the Central Bank of Brazil. Exchange rate risk Exchange rate risk results from the possibility of losses due to fluctuations in exchange rates, which increase liabilities arising from loans and purchase commitments in foreign currency or that reduce assets arising from amounts to be received in foreign currency. Some of the Group’s subsidiaries sell to foreign customers. For international operations, the Group invoices in its functional currency and maintains payment terms at or within 30 days of invoicing to ensure the exposure to exchange rate fluctuations is negligible. As of December 31, 2023, and 2022, the Group had bank account deposits with exposure to fluctuations in foreign currency held in the United States that are immaterial. Capital management The Group’s objective when managing its capital is to safeguard the Group’s ability to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. The capital structure of the Group consists of net debt and equity of the Group. The Group’s overall strategy remained consistent throughout 2023. Debt is defined by the Group as long and short-term borrowings, including debentures, deferred and contingent consideration, and lease liabilities as disclosed in notes 5, 10, and 15. Net debt is defined as debt after deducting cash and cash equivalents. Equity includes capital, reserves, and retained earnings as disclosed in note 17. The Group is subject to certain covenants, as described in note 15. As of December 31, 2023, the Group had a net negative working capital in the amount of R$(308,579), mainly resulting from: 1) Balance related to obligations associated with the acquisition of certain subsidiaries (the deferred and contingent consideration, as detailed in note 5), which was presented in current liabilities in the amount of R$232,077. The Group’s Management negotiated the postponement of the payment of part of these amounts for 2023 and 2024, payable in both cash and shares. Management renegotiated the terms of the payment of the deferred and contingent consideration to be settled in a combination of cash and equity in the Group instead of solely in cash. Management has evaluated the Group’s ability to settle short-term obligations and understands that this fact does not jeopardize the Group’s operational continuity, since it maintains an excellent relationship with creditors who have interests aligned with the Group’s long-term purpose and with the payment plan proposed in the renegotiations that have been conducted to date. See note 5, for details on the deferred and contingent consideration re-negotiation arrangements. 2) Balance of debentures, which was presented in current liabilities, due to the non-achievement of certain debt covenants at the end of the reporting period, as detailed in note 15. Refer to note 2 for Management’s discussion on how these debt covenants affect the Company’s ability to remain a going concern. Under the terms of the agreement related to Nuvini S.A.’s Debentures First Issue, Nuvini S.A. is subject to restrictive and affirmative covenants, including restrictions on Nuvini S.A.’s change of control, the change of Nuvini S.A.’s ownership structure and corporate reorganization, limitations on certain consolidations, mergers and sales of assets, restrictions on the payment of dividends and financial covenants. The debentures have covenants normally applicable to these types of operations related to the meeting of economic-financial indices on an annual basis, including (a) gross debt indicator /pro forma EBITDA ratio less than or equal to 4.0x; (b) pro forma EBITDA Margin in relation to net revenue greater than or equal to 20%; and (c) debt service coverage index greater than or equal to 4.0x, as defined in the related agreement. The debt service coverage index is as the sum of the balance of cash and cash equivalents and the cash flow from operating activities for the last 12 months, divided by the sum of the balance of loans and financings and other short-term debt due within 12 months. The Group monitors the ratios on a monthly basis. As of December 31, 2023, the Group was not compliant with its debenture covenants, but obtained a waiver as detailed in note 15. Other than the covenants described above, the Group is not subject to any externally imposed capital requirements. The Group’s financial planning and analysis department reviews the capital structure of the Group on an annual basis. As part of this review, the department considers the cost of capital and the risks associated with each class of capital.

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents [Abstract]
Cash and cash equivalents	Note 7. Cash and cash equivalents The components of cash and cash equivalents at December 31, 2023, and 2022 are as follows: 12/31/2023 12/31/2022 Cash and cash equivalents 3,059 2,537 Short-term investments 8,339 5,478 Total 11,398 8,015 Short-term investments in the Group consist of liquid investments earning interest based on 101% of CDI for both years ended December 31, 2023, and 2022. The short-term investments may be redeemed at any time, at the Company’s request, without substantial modification of its values.

Trade Accounts Receivable

Trade Accounts Receivable	12 Months Ended
	Dec. 31, 2023
Trade Accounts Receivable [Abstract]
Trade accounts receivable	Note 8. Trade accounts receivable Trade accounts receivable are amounts due from customers for services performed in the ordinary course of business. 12/31/2023 12/31/2022 Trade accounts receivable 14,852 10,225 Allowance for expected credit losses (589 ) (149 ) Trade accounts receivable, net 14,263 10,076 The balance of trade accounts receivable includes contract assets totaling R$4,145 and R$2,272 at December 31, 2023, and 2022, respectively. As of December 31, 2023, 2022 and 2021, an amount of R$953, R $0 The following table shows the change in allowance for expected credit losses: As of January 1, 2021 - Allowance recorded during the year (117 ) As of December 31, 2021 (117 ) Allowance recorded during the year (32 ) As of December 31, 2022 (149 ) Allowance recorded during the year (538 ) Reversal of provision 98 As of December 31, 2023 (589 ) The trade accounts receivables by aging category are distributed as follows: 12/31/2023 12/31/2022 Aging list: Current 11,975 8,844 Due up to 30 days 1,651 747 Due from 30 to 60 days 272 161 Due from 60 to 90 days 365 324 Overdue over 90 days 589 149 Total 14,852 10,225

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2023
Related Parties [Abstract]
Related parties	Note 9. Related parties Transactions between related parties The Group has entered into loan agreements with certain shareholders, executives and directors. The amounts outstanding are unsecured and in the case of default on payment, a fine of 2% may be imposed on the total value of the loans. The loan balances outstanding for the year ended December 31, 2023, and 2022 are as follows: 2023 2022 Related party loan—Pierre Schurmann (i)(ii)(iii) 8,890 3,232 Related party loan—Aury Ronan Francisco (iv) 977 846 Total loans from related parties 9,867 4,078 (i) The 2021 loans were granted in two installments on August 23, 2021, in the amount of R$6,000 and on August 31, 2021, in the amount of R$3,000, both installments payable within 6 months. Interest on the outstanding loan is calculated using a fixed rate of 8% per annum. From January 27, 2022, and March 28, 2022, Nuvini S.A. entered into four additional loan agreements with Schurmann. The first and second loan agreements were entered into on January 27, 2022, in the principal amount of R$500 and R$300 respectively, each carrying an interest rate of 100% of CDI plus 3% per annum. The third loan agreement was entered into on February 1, 2022, with a principal amount of R$1,200, carrying an interest rate equal to 100% of CDI plus 3% per annum. The fourth loan agreement was entered into on March 29, 2022, with a principal amount of R$1,150, carrying an interest rate equal to 100% of CDI plus 3% per annum. On April 28, 2022, Nuvini S.A. and Schurmann entered into a first consolidated amendment applicable to all the Related Party Loan Agreements in order to (i) condition the payment of the Related Party Loan Agreements to the achievement of a gross debt indicator/pro forma EBITDA less or equal to 3.5x for three consecutive semesters by Nuvini S.A., in connection with the Exposure Premium, as per deliberated in a general meeting of the debenture holders; and (ii) equalize the interest rates of all Related Party Loan Agreements in 100% of the CDI plus 8% per annum. In December 2022, all amounts payable under these loans, amounting to R$16,799, were converted into subscription rights with the same terms as those described in note 17. Schurmann holds 81.6% of the Nuvini Holding Limited shares as of December 31, 2022. As of December 31, 2023, after the conversion of Nuvini Holding Limited stock to Nvni Group Limited, Schurmann holds 50.6% of the issued shares. (ii) On December 15, 2022, Nuvini S.A. entered into a loan agreement with Schurmann, in the principal amount of R$3,200 with an interest rate of 10% per annum and 100% of CDI, and with a maturity of 16 months. Pursuant to the terms of this agreement, Schurmann was entitled to a premium in the equivalent of 15% of the principal loan amount. This amount was settled in Nvni Group Limited shares. (iii) Nuvini S.A. entered into two loan agreements with Schurmann during 2023. The first agreement entered into on February 13, 2023, in the principal amount of R$3,300 with interest of 10 % per year and 100% of CDI, and with a maturity of 12 months. The second agreement entered into on July 3, 2023, in the principal amount of R$1,039 interest equivalent to 23.25% per year, and term date of October 25, 2023. (iv) This loan was received on September 3, 2021, from Aury Ronan Francisco, former CFO, in the amount of R$3,700. On September 29, 2021, the Group paid R$3,000 of the principal amount, with the remaining R$700 outstanding and payable within 6 months. Interest on the outstanding loan is calculated using a fixed rate of 3% per annum. As of December 31, 2023, and 2022, the remaining balance of the loan remains outstanding and accruing interest. Per the terms of the agreement, once the balance is paid, the Company will also include a penalty of 2% of the total value of the loan. On May 20, 2022, and December 15, 2022, respectively, Nuvini S.A. entered into two loan agreements with Accipiens Consultoria e Participações EIRELI, an entity owned and operated by Luiz Busnello, COO, in the amount of R$1,500 and R$1,100, respectively, with no interest rate attached. The right to repayment of the R$2,600 loan balance was assigned to Schurmann on November 30, 2022, who paid Luiz Busnello in cash in exchange for the right to be repaid under the loan, pursuant to the terms of the “ Instrumento Particular de Cessão de Crédito Key management compensation The compensation of the Group’s executive management team is determined based on the Group’s compensation policy considering the performance of professionals, business areas and market trends. Key management compensation for the years ended December 31, 2023, 2022 and 2021 is summarized as follows: 2023 2022 2021 Short-term compensation (including salary) 434 573 2,938 Short-term employee benefits 72 76 48 Post-employment benefits - - 7 Termination benefits 62 - 274 Share-based compensation 16,685 9,007 1,957 Total 17,253 9,656 5,224 The balance of short-term employee benefits consists of health, life, and dental insurance along with a meal voucher which is considered a monthly employee benefit under Brazil Compensation Law. Post employment and termination benefits were paid to two employees in key management positions during 2021 after they were terminated from Nuvini S.A. The post-employment benefits consist of extended health, life, and dental insurance for two months beyond the termination date. No other long-term benefits were issued to key management in 2023, 2022 or 2021. Termination benefits were paid to one employee in a key management position during 2023 after they were terminated from Nuvini. The termination benefits consist of salaries, overdue holidays and tax labor. On February 28, 2022, Busnello and Walter Leandro, VP of M&A, entered into advisor agreements with Nuvini S.A. Their services include, but are not limited to, managing M&A strategy and pipeline work, providing support to identify strong acquisition opportunities, conducting due diligence on potential acquisition targets, developing detailed financial models and business cases. Both Busnello and Leandro are each entitled to receive an advisor fee of R$1,500 consisting of 285,171 units of stock options, refer to note 19 for more information regarding share-based compensation awards. These agreements were amended in order to increase the number of stock options units to 646,552 based on an updated valuation. On February 28, 2022, and March 25, 2022, Busnello entered into additional advisor agreements to act as COO and interim CFO. Services include, but are not limited to, managing the ongoing operations of the Company, managing the finance and accounting teams and managing the process for financial planning and budgeting. As compensation for these services, Busnello received a total of 7,453,449 units of stock options. In agreement with the Nuvini S.A. share subscription option granting plan, in the event of a Liquidity Event, as defined in the Plan, 50% of the Options not yet exercisable on the date of occurrence of the Liquidity Event will become exercisable. The Company recognized a Liquidity Event in connection with the business combination with Mercato event on September 29, 2023, and therefore accelerated the vesting schedule attributing to the increase in share-based compensation as of December 31, 2023. Refer to note 19 for more information regarding share-based compensation awards. Share-based compensation awards are granted to employees which will be vested based on the terms of the individual agreements. Other than the above, there were no reportable transactions between the Group and members of the key management personnel during the years ended December 31, 2023, 2022 and 2021. For more information regarding share-based compensation awards see note 19.

Property and Equipment, Net and

Property and Equipment, Net and Right-of-Use Assets, Net	12 Months Ended
	Dec. 31, 2023
Property and Equipment, Net and Right-of-Use Assets, Net [Abstract]
Property and Equipment, Net and Right-of-Use Assets, Net	Note 10. Property and equipment, net and right-of-use assets, net The balances of the fixed and right-of-use assets are presented as follows: December 31, 2023 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 108 556 2,871 272 (50 ) 47 204 3,143 7,151 Additions - 384 2,918 24 - - 179 768 4,273 Acquisitions - 12 225 - - - - 108 345 Disposals - (143 ) (2,188 ) (67 ) 50 - (63 ) (829 ) (3,240 ) At December 31 108 809 3,826 229 - 47 320 3,190 8,529 Accumulated depreciation: At January 1 (8 ) (151 ) (803 ) (54 ) 50 - (110 ) (1,702 ) (2,778 ) Depreciation expense (11 ) (88 ) (832 ) (21 ) - - (98 ) (862 ) (1,912 ) Acquisitions - (2 ) (63 ) - - - - (65 ) Disposals - - 803 18 (50 ) - 71 809 1,651 At December 31 (19 ) (241 ) (895 ) (57 ) - - (137 ) (1,755 ) (3,104 ) Net amount 89 568 2,931 172 - 47 183 1,435 5,425 Depreciation period (in years) 3 10 5 10 10 December 31, 2022 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 50 548 1,849 272 (50 ) 62 127 3,030 5,888 Additions 58 12 1,131 - - 52 77 113 1,443 Disposals - (4 ) (109 ) - - (67 ) - - (180 ) At December 31 108 556 2,871 272 (50 ) 47 204 3,143 7,151 Accumulated depreciation: At January 1 - (58 ) (342 ) (31 ) 44 - (73 ) (573 ) (1,033 ) Depreciation expense (8 ) (94 ) (519 ) (23 ) - - (37 ) (1,129 ) (1,810 ) Disposals - 1 58 - 6 - - - 65 At December 31 (8 ) (151 ) (803 ) (54 ) 50 - (110 ) (1,702 ) (2,778 ) Net amount 100 405 2,068 218 - 47 94 1,441 4,373 December 31, 2021 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 - 71 186 23 - - - - 280 Additions 50 149 731 25 - 67 64 1,972 3,058 Acquisitions (noted 5) - 450 959 224 39 63 1,058 2,793 Disposals - (122 ) (27 ) - (89 ) (5 ) - - (243 ) At December 31 50 548 1,849 272 (50 ) 62 127 3,030 5,888 Accumulated depreciation: At January 1 - (12 ) (53 ) (5 ) - - - - (70 ) Depreciation expense - (93 ) (290 ) (26 ) (16 ) - (73 ) (573 ) (1,071 ) Disposals - 47 1 - 60 - - - 108 At December 31 - (58 ) (342 ) (31 ) 44 - (73 ) (573 ) (1,033 ) Net amount 50 490 1,507 241 (6 ) 62 54 2,457 4,855 The Company tested its CGUs (cash-generating units) for impairment for the years ended December 31, 2023, 2022 and 2021. For further details, refer to note 11. Right-of-use asset and lease liabilities The Group leases commercial office space under rental agreements with terms that range between two and five years. Rental payments are generally fixed over the non-cancellable term of the lease and indexed to local inflation. The discount rate applied to lease agreements ranges from 10.5%—18% per annum for assets held, which represents the estimated incremental borrowing rate for the Company at the date of lease inception. The Company applied judgment to determine the lease term of some contracts, considering the provisions of Brazilian Law No. 8,245 (tenant law), which grants the lessee the right to contract renewals when certain conditions are met, as well as past practices regarding the success of the Company in the renewal of their contracts. The assessment of whether the Company is reasonably certain to exercise these options has an impact on the lease term, which significantly affects the value of lease liabilities and right-of-use assets recognized. The following tables show the changes in the right-of-use asset and lease liabilities: Right-of-use asset: Balance as of January 1, 2021 - Acquisitions from business combinations 1,058 Additions 1,972 Amortization (573 ) Balance as of December 31, 2021 2,457 Additions 113 Amortization (1,129 ) Balance as of December 31, 2022 1,441 Additions 876 Amortization (862 ) Disposals (20 ) Balance as of December 31, 2023 1,435 Lease liabilities: Balance as of January 1, 2021 - Acquisitions 1,058 Additions 1,972 Interest accrued 103 Consideration paid (596 ) Balance as of December 31, 2021 2,537 Interest accrued 175 Consideration paid (1,238 ) Remeasurement 113 Balance as of December 31, 2022 1,587 Interest accrued 316 Additions 1,341 Consideration paid (1,053 ) Cancellations (710 ) Remeasurement 38 Balance as of December 31, 2023 1,519 The following provides information regarding the timing of future contractual lease payments at December 31, 2023, and 2022: 2023 2022 Amounts payable under leases: Up to 1 year 912 1,174 From 2 to 3 years 894 535 Less: Interest to be appropriated (287 ) (122 ) Present value of lease liabilities 1,519 1,587

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2023
Intangible Assets, Net [Abstract]
Intangible assets, net	Note 11. Intangible assets, net The changes in the carrying amount of goodwill and intangible assets for the years ended December 31, 2023, 2022 and 2021 were as follows: December 31, 2023 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2023 49,165 78,321 33,889 5,957 199,512 366,844 Additions by acquisition 2,581 1,935 1,685 - 15,960 22,161 Additions by internal development 8,648 - - - - 8,648 Impairment of goodwill - - - - (11,373 ) (11,373 ) Balance as of December 31, 2023 60,394 80,256 35,574 5,957 204,099 386,280 Accumulated Amortization: Balance as of January 1, 2023 (14,203 ) (5,847 ) (6,048 ) (2,283 ) (28,381 ) Amortization for the period (8,440 ) (3,294 ) (3,796 ) (1,209 ) - (16,739 ) Balance as of December 31, 2023 (22,643 ) (9,141 ) (9,844 ) (3,492 ) - (45,120 ) Intangible assets, net as of December 31, 2023 37,751 71,115 25,730 2,465 204,099 341,160 Amortization period (in years) 5-10 22-25 3-17 5-6 Indefinite December 31, 2022 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2022 46,173 78,321 33,889 5,957 286,409 450,749 Additions by internal development 2,992 - - - - 2,992 Impairment - - - - (86,897 ) (86,897 ) Balance as of December 31, 2022 49,165 78,321 33,889 5,957 199,512 366,844 Accumulated Amortization: Balance as of January 1, 2022 (6,435 ) (2,652 ) (2,796 ) (1,074 ) - (12,957 ) Amortization for the period (7,768 ) (3,195 ) (3,252 ) (1,209 ) - (15,424 ) Balance as of December 31, 2022 (14,203 ) (5,847 ) (6,048 ) (2,283 ) - (28,381 ) Intangible assets, net as of December 31, 2022 34,962 72,474 27,841 3,674 199,512 338,463 December 31, 2021 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2021 6,425 17,592 9,713 2,085 55,380 91,195 Additions 40 7 - - - 47 Additions by internal development 2,676 - - - - 2,676 Acquisitions 37,032 60,722 24,176 3,872 237,787 363,589 Impairment of goodwill - - - - (6,758 ) (6,758 ) Balance as of December 31, 2021 46,173 78,321 33,889 5,957 286,409 450,749 Accumulated Amortization: Balance as of January 1, 2021 (216 ) (117 ) (60 ) (57 ) - (450 ) Amortization for the period (6,219 ) (2,535 ) (2,736 ) (1,017 ) - (12,507 ) Balance as of December 31, 2021 (6,435 ) (2,652 ) (2,796 ) (1,074 ) - (12,957 ) Intangible assets, net as of December 31, 2021 39,738 75,669 31,093 4,883 286,409 437,792 Amortization of intangible assets with definite useful lives is based on estimates of their useful lives. Intangible assets were recognized as a result of the business combinations detailed in note 5. The recognized values and useful lives of the identifiable intangible assets generated as a result of the business combinations were based on the purchase price accounting valuations completed by independent external specialists. Each subsidiary was evaluated separately upon their acquisition date. In the years ended December 31, 2023, and 2022, there were no changes in the expected useful lives of these assets. Impairment testing of intangible assets with definite useful lives Intangible assets with definite useful lives were allocated to CGUs, which were subject to annual impairment testing, and no provision for impairment was required. Impairment testing of goodwill Goodwill acquired as a result of a business combination is allocated to each of the CGUs for impairment testing purposes. Each subsidiary acquired represents a separate CGU. The recoverable amount of each CGU is determined based on the value-in-use approach. The recoverable amount under the value-in-use approach was greater than the fair value less selling expenses approach at the time of the impairment test. The assumptions with the most relevant impact used in the calculation of the value in use are: ● Cash flow projections, with information related to sales growth, costs, expenses, fixed investments and working capital investments are based on annual projections prepared by each CGU and approved by Management. ● Discount rate: The discount rate represents the risk assessment in the current market. The calculation of the discount rate is based on specific circumstances of the CGU tested and is derived from the weighted average capital costs of the CGU tested. ● Growth in perpetuity: The estimate is based mainly on the: (i) historical performance of the CGU, (ii) expectation of organic growth by sector of operation; and (iii) expectation of inflation and economic growth based on projections released by the Central Bank of Brazil, which is the principal monetary authority of the country. Projection periods of five years were considered for the Group´s CGU, with a 3% growth in perpetuity, which corresponds to the projected long-term inflation rate. Cash flows were discounted to present value through the application of the rate determined by the Weighted Average Capital Cost (“WACC”), which was calculated using the Capital Asset Pricing Model (“CAPM”) method, also considering several components of financing, debt and equity used by the Group to finance its activities. The discount rates utilized for each CGU ranged from 12.57% to 18.17%. As a result of these evaluations, the Company verified that the estimated value in use of the subsidiary was less than its carrying value indicating that the assets have suffered an impairment. The Company recorded an impairment totaling R$(86,897) related to the goodwill recorded on Datahub R$(1,816) and Leadlovers R$(85,081) as of December 31, 2022. The impairment related to CGU Leadlovers was material as of December 31, 2022. The Company conducted the impairment test on December 31, 2022, and considered, among other factors, the country’s economic momentum and the historical results of the CGU. The methodology used to determine the recoverable value was the greater of value in use or fair value less costs to sell. The cash flow projected for each CGU is considered a discount rate using the weighted average cost of capital (WACC), after income taxes applied to cash flow projections of 14.3% as of December 31, 2022 (the nominal rate). The carrying value for Leadlovers was valued at R$120,929 and the recoverable amount at R$35,848 as of December 31, 2022, indicating an impairment. The Leadlovers impairment analysis completed as of December 31, 2021, using the WACC of 15.33%, indicated the carrying value for Leadlovers valued at R$106,157 and the value in use at R$107,856, indicating no impairment. As a result of this analysis, the Company recorded the impairment loss for goodwill constituted as a result of the analysis in an amount of R$81,152 in the Group The impairment loss has been included within the impairment of the goodwill financial statement line in the consolidated statement of loss. The main impact to the 2022 financial results of Leadlovers that resulted in an impairment loss was the net present value of projected periods and the present value in perpetuity as the 2022. The Leadlover’s free cash flow as of December 31, 2022, valued at R$3,613. The cash flow of the reporting period indicated an increase in the net loss of the Company and a negative operating cash flow result as of 2022. Leadlovers experienced decreased sales demands during 2022 without a cut in fixed costs which impacted the net profit and therefore impacted the value in use of the Company. As of December 31, 2023, the Company recorded impairment totaling R$(11,373) related to the goodwill recorded on Datahub. The carrying value for Datahub was valued at R$42,672 and the recoverable amount at R$31,299 as of December 31, 2023, indicating an impairment. Management believes any reasonably possible change in the key assumptions on which recoverable amounts are based would not cause its CGUs’ carrying amounts to exceed its recoverable amounts. Though Management believes its judgments, assumptions and estimates are appropriate, actual results may differ from such estimates under different assumptions, macroeconomic and market conditions.

Salaries and Labor Charges

Salaries and Labor Charges	12 Months Ended
	Dec. 31, 2023
Salaries and Labor Charges [Abstract]
Salaries and labor charges	Note 12. Salaries and labor charges The composition of salaries and labor charges at December 31, 2023, 2022 2021 were as follows: 2023 2022 2021 Wages payable 5,672 6,514 2,816 Accrued labor benefits 7,186 4,698 3,857 Labor taxes 3,816 3,803 2,220 Total salaries and labor charges 16,674 15,015 8,893

Loans and Financing

Loans and Financing	12 Months Ended
	Dec. 31, 2023
Loans and financing [Abstract]
Loans and financing	Note 13. Loans and financing The outstanding balance of loans and financing at December 31, 2023, and 2022 are summarized as follows: Years ended December 31, Interest Rate Maturity 2023 2022 Loans: CEF 23.36% per annum 2023 - 78 Itaú Bank 1.10% per month 2023 - 277 Santander Bank 0.06% per day 2024 4,254 - Bradesco Bank 12.15% per annum 2024 343 355 BNDES 12.27% per annum 2024 692 1,087 Total 5,289 1,797 Financing: BNDES - Equipment 1.14% per month 2023 - 2 BNDES - Equipment 1.14% per month 2023 - 8 Total - 10 Current 4,960 1,138 Non-current 329 669 Per the terms of the bank loan agreements, the institution may consider the loan to be due early in the case of certain events such as corporate reorganization or change of control. As of the date of these financial statements, there have been no calls for early maturity of the loans. The amounts recorded in non-current liabilities for the years ended December 31, 2023, and 2022 have the following maturity schedule: Years ended December 31, 2023 2022 2024 - 669 2025 311 - 2026 18 - Non-current liabilities 329 669 The following is a summary of loan activity for the years ended December 31, 2023, 2022 and 2021: Balances as of January 1, 2021 - Additions 15,000 Additions by acquisition of companies 3,994 Interest accrual 511 Principal payments (10,962 ) Interest payments (243 ) Balance as of December 31, 2021 8,300 Additions 4,000 Interest accrual 349 Principal payments (10,101 ) Interest payments (741 ) Balance as of December 31, 2022 1,807 Additions 5,462 Interest accrual 940 Principal payments (2,034 ) Interest payments (886 ) Balance as of December 31, 2023 5,289 Accounts payable to suppliers The breakdown of Trade and other payables is as follows: 12/31/2023 12/31/2022 Suppliers- National and foreign 7,676 7,283 Suppliers - IPO transaction expenses (i) 39,457 - Trade accounts payable 47,133 7,283 (i) Consists of concentrated expenses incurred in 2023 related to third-party advisory and support services incurred in connection with the reorganization transaction that are not expected to be ongoing. These services were provided by suppliers to the Company. The liability includes the prepaid D&O insurance totaling R$4,078, recognized during the fiscal year ended December 31, 2023.

Loans From Investors

Loans From Investors	12 Months Ended
	Dec. 31, 2023
Loans from Investors [Abstract]
Loans from investors	Note 14. Loans from investors As of December 31, 2023, the Company had entered into twelve loan agreements with third party investors. In 2022, the Company entered into four loan agreements with third party investors (“Investor Loans”) in the amount of R$4,750, maturing in 16 months from the date of issuance, with interest accruing at a rate of CDI plus 10% per annum. In 2023, the Company entered into eight additional loan agreements with seven separate third party investors in the amount totaling R$7,407. The loans are subject to Selic interest plus 10% per year and a 2% penalty on the value of the agreement if the loan payments become overdue. No payments have been issued on the loans from investors as of December 31, 2023, and 2022. The following is a summary of investor loan activity for the year ended December 31, 2023, and 2022: As of January 1, 2022 - Transfer from loans and financing 320 Additions 4,750 Interest accrual 179 As of December 31, 2022 5,249 Additions 7,407 Amortization (320 ) Interest accrual 1,564 As of December 31, 2023 13,901 Loan premium In connection with the Investor Loan agreements and Schurmann’s R$3,200 loan as of December 31, 2022, the lenders are also entitled to a premium in the equivalent of 15% of the principal loan amount, which will be settled in Nvni Group Limited ordinary shares. The Loan Premium is calculated as the fair value of 15% of the principal loan amount based on the probability of the SPAC occurring at certain dates. As of December 31, 2022, the balance of the Loan Premium was R$200 and was recorded within loans from investors in current liabilities. As of December 31, 2023, the loan premium was converted to share capital upon commencement of the Merger.

Debentures

Debentures	12 Months Ended
	Dec. 31, 2023
Debentures [Abstract]
Debentures	Note 15. Debentures On May 14, 2021, the Group issued 61,000 non-convertible debentures, in a single series, with a nominal unit value of R$1 to a group of initial investors (the “Initial Investors”, with the issuance being referred to herein as the “First Issue”). Interest accrues at the rate of CDI + 10.6% per year and is payable quarterly in February, May, August and November of each year. Amortization of principal is quarterly, beginning in May 2023 with final maturity in May 2026. The debentures were initially recognized at fair value, net of R$2,264 of transaction costs, and are recorded at amortized cost. The following is a summary of activity related to the debentures for the years ended December 31, 2023, 2022 and 2021: As of January 1, 2021 - Issuance of debentures 61,000 Transaction costs (2,264 ) Interest incurred 5,051 Interest payments (3,303 ) As of December 31, 2021 60,484 Interest incurred 12,074 Interest payments (11,685 ) As of December 31, 2022 60,873 Interest incurred 11,639 Principal payments (7,417 ) Interest payments (13,898 ) As of December 31, 2023 51,197 Collateral and guarantees As of December 31, 2022, all the shares representing the share capital of the subsidiaries Effecti, Leadlovers and Onclick were pledged as collateral for the debentures. Further, in connection with the covenant waivers received in March 2022, all the shares of the subsidiary Datahub were also pledged as additional collateral. In guarantee of faithful, punctual and full compliance of all obligations, principal or ancillary, the following guarantees were formalized: (i) fiduciary assignment of all rights and credits arising from the linked disbursement and centralized escrow accounts, which are used to deposit and disburse the funds received from the debentures, both owned by the Company; and (ii) fiduciary assignment by the Company of all shares and shares of the subsidiaries acquired, as well as any other common or preferred shares, with or without voting rights, representing the share capital of the subsidiaries acquired, which may be subscribed, acquired or in any way held by the Company. The guarantees above mentioned are only applicable to the subsidiaries acquired during 2021, with the exception of Mercos. As of December 31, 2023, all the shares representing the share capital of the subsidiaries Effecti, Leadlovers, Onclick and Datahub, have been pledged as collateral. Covenants The debentures have covenants normally applicable to these types of operations related to the meeting of economic-financial indices on an annual basis, including (i) gross debt indicator / pro forma EBITDA ratio less than or equal to 3.0x; (ii) pro forma EBITDA margin in relation to net revenue greater than or equal to 20%; and (iii) debt service coverage index greater than or equal to 4.0x, as defined in the related agreement. A failure to meet any of the covenants automatically results in early maturity of the debentures. As of December 31, 2023, and 2022, the Group was not in compliance with these covenants. On March 30, 2022, the debenture holders granted the Company’s request for a waiver of the covenant violations. As part of the waiver, the covenants for 2022 were amended as follows: (i) gross debt indicator / pro forma EBITDA to 7.2x; (ii) pro forma EBITDA margin in relation to net revenue to 7.1%; and (iii) the debt service coverage index of 4.0x was maintained. The Company did not meet all of the amended 2022 covenants and, on February 9, 2023, debenture holders approved the Company’s separate request for an additional waiver for the 2022 covenant violations. On May 8, 2023, the debenture holders granted the Company’s request to extend the scheduled amortization date of the debentures to August 14, 2023. Principal payments totaling R$7,417 were made on the debentures in 2023. The payment balances were issued on October 2, 2023, October 13, 2023, and December 28, 2023, in the amount of R$2,491, R$2,491 and R$2,435 respectively. As of December 31, 2023, the Company did not meet the debt service coverage index covenant, as the calculated index was 0.6x which is less than the 4.0x targeted threshold. The Company requested a waiver for the covenant violation on December 13, 2024, which would alleviate any Company concerns regarding a potential early debt maturity due to the covenant breach. The debenture holders granted the Company’s request on December 19, 2024, leaving the amortization date of the debentures unchanged. Exposure premium In connection with the First Issue, the Company and the Initial Investors entered into a separate agreement that provides for the payment of additional amounts to the Initial Investors in the event of certain liquidity events, as defined, or the early redemption of the debentures by the Company in whole or in part prior to maturity, (the “Exposure Premium”). Liquidity events are defined within the debenture agreement as the sale, exchange or alteration of the capital structure of the Group such as reorganization or the public sale of shares equivalent to at least 10% of the total capital stock of the Group. The Exposure Premium due to Initial Investors under a qualifying liquidity event is calculated as 5% of the total equity value of all the shares of the Group on the date of the event, applied pro-rata based on the total debentures initially acquired by the Initial Investors in proportion to every 250,000 debentures authorized for issuance in the First Issue. As only 58,000 of 250,000 debentures were issued to the Initial Investors, the total exposure is 1.16% of total equity value of all the shares of the Group on the date of liquidity event, limited to the applicable percentage cap of the value of the debentures outstanding, as described in the table below. The Group may redeem the debentures prior to their maturity in part or in full or make an offer for the early redemption of debentures to the Initial Investors. The Exposure Premium applicable to an early redemption occurring is calculated pro-rata based on the total debentures initially acquired by the Initial Investors and will be calculated based on the total amount of the debentures outstanding on the date of early redemption. The Exposure Premium is calculated based on its fair value. The Exposure Premium fair value considers a cap for the liquidity event or early redemption according to the following criteria: Liquidity Event Date or Early Redemption Date Cap Applied to Total Debentures Outstanding (%) From May 14, 2021 (inclusive) to May 14, 2022 (exclusive) 35.00 % From May 14, 2022 (inclusive) to May 14, 2023 (exclusive) 40.00 % From May 14, 2023 (inclusive) to May 14, 2024 (exclusive) 45.00 % From May 14, 2024 (inclusive) to May 14, 2031 50.00 % The Exposure Premium payment is not linked to the payment of debentures and is considered additional and independent compensation, due exclusively to the Initial Investor which acquired the first issuance of debentures and is therefore not due to any other investors. The Exposure Premium will only be paid once per Initial Investor at the time of the liquidity event or in case of early redemption. As of December 31, 2023 and 2022, the fair value of the Exposure Premium was R$1,835 and R$841, respectively, and the fair value adjustment is recorded in the provision for debentures as a current liability with the change in fair value of the derivative recorded in profit or loss.

Provision for Risks

Provision for Risks	12 Months Ended
	Dec. 31, 2023
Provision for Risks [Abstract]
Provision for risks	Note 16. Provision for risks Provisions for risks are recognized when: (i) the Group has a present or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) the value can be reliably estimated. The provisions for risks are estimated, considering management’s judgements, based in part on the advice and counsel of the Company’s legal advisors, as to the probability of loss and expected future amounts to settle the obligations. The provision liability for the years ended December 31, 2023, and 2022 were recorded for labor and tax contingencies in connection with recognition of Company acquisitions. After the acquisitions, due to the increase in employee headcount, the Group established a provision for the related employee labor risk of the acquired workforce related to an infraction notice for the period 2017 to 2022, whose tax authority understands that the Brazilian Municipal Service Tax (“ISS”) due would be 5%, while the Group collected and remitted at 2%. The provision activity for the years ended December 31, 2023, and 2022, is as follows: At January 1, 2021 673 Provisions acquired in business combination (note 5) 22,651 Provision recorded during the period 9,262 Provision paid during the period - At December 31, 2021 32,586 Reversal of provision (5,307 ) Provision recorded during the period 3,753 Provision paid during the period - At December 31, 2022 31,032 Reversal of provision (3,292 ) Provision recorded during the period 1,777 Additions by acquisition 1,184 Additions by merger 119 At December 31, 2023 30,820 Contingent liabilities The Group is party to a number of claims, assessments and legal proceedings in the normal course of business. At December 31, 2023, and 2022, the total of such contingent obligations, for which the likelihood of loss was determined as possible by management and for which no provision has been recorded, is as follows: 2023 2022 Civil 727 92 Tax 4,934 4,758 Total 5,661 4,850

Equity and Divestitures

Equity and Divestitures	12 Months Ended
	Dec. 31, 2023
Equity and Divestitures [Abstract]
Equity and divestitures	Note 17. Equity and divestitures Share capital The following table illustrates the shareholders’ equity of the Company after being retrospectively adjusted by the share split in line with capital restructuring of the Group in conjunction with the SPAC merger: Shares Issued as of January 1, 2021 13,769,811 Shares issued 3,840,639 As of December 31, 2021 17,610,450 As of January 1, 2022 17,610,450 Shares issued (i) 208,219 As of December 31, 2022 17,818,669 As of January 1, 2023 17,818,669 Shares issued (ii) 2,313,622 Subtotal 20,132,291 Acquisition of Nvni Group Limited (**) 11,485,080 As of December 31, 2023 31,617,370 (i) Shares were issued in December 2022 in connection with the exercise of subscription rights as detailed below. On December 22, 2022, the Company entered into a contribution agreement with Nuvini Holdings Limited, an exempted company incorporated with limited liability in the Cayman Islands that is the parent company of Nuvini S.A, that effective upon the agreement, the Company transferred 100% of Nuvini shareholders’ equity from Nuvini shares to Nuvini Holdings Limited shares. (ii) The shares issued pertain to the premium on loans, subscription right payments, earn out payments and stock option exercised by the board made in 2023, prior to the conversion into Nvni Group Limited shares. * In connection with the SPAC merger, each of the Nuvini shareholders contributed their ordinary shares into the Company in exchange for Nvni Group Limited ordinary shares. The shares were converted into a number of Nvni Group Limited ordinary shares in accordance with the Exchange Ratio of 0.145485724. ** The acquisition of Nvni Group Limited Ordinary Shares includes the conversion of 3,884,372 Nvni Group Limited rollover options, earn-out shares and equity plan, 4,300,363 Mercato Public Shares, 5,570,000 Mercato Class B Shares, 475,000 Maxim shares, and 1,280,000 PIPE investor shares. For details on participation percentages, please refer to the distribution to shareholders’ capital table. The distribution of shareholders’ capital as of December 31, 2022, reflective of the retrospectively adjusted stock split in line with capital restructuring, is as follows: Shareholders % Common Subscribed and Paid- Nuvini Holdings Limited 100 % 17,818,669 40,404 The distribution of shareholders’ capital as of December 31, 2023, is as follows: Shareholders % Common Shares Subscribed and Paid- Former Nuvini Stockholders (Nuvini Holdings Limited) 75.96 % 24,016,662 Public Stockholders .30 % 95,708 Mercato Founders 18.19 % 5,750,000 Maxim 1.50 % 475,000 PIPE Investors 4.05 % 1,280,000 Total 100 % 31,617,370 260,685 Derivatives Derivative warrant liability As part of the SPAC Merger, each issued and outstanding warrant to purchase Mercato class A ordinary shares was converted into the right to purchase one Nuvini ordinary share at an exercise price of $11.50 per share (“Nuvini Warrants”), subject to the same terms and conditions existing prior to such conversion. These warrants are considered financial instruments (derivatives) and are recorded at fair value through profit or loss. Upon the completion of the SPAC Merger, there are 23,050,000 Nuvini Warrants outstanding, of which 11,500,00 Public Warrants The Public Warrants became exercisable on October 29, 2023, and will expire on the earlier of September 29, 2028, or upon redemption or liquidation, in accordance with their terms. The fair value of the Public Warrants was determined using the market trading price as of December 31, 2023, which was R$0.04 per share. Private Placement Warrants The Private Placement Warrants are identical to the Public Warrants in all material respects, except that the Private Placement Warrants, so long as they are held by certain former Mercato shareholders or its permitted transferees: (i) will not be redeemable by the Company, (ii) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until October 29, 2023, (iii) may be exercised by the holders on a cashless basis, and (iv) will be entitled to registration rights. The fair value of Private Placement Warrants was determined using the market trading price at December 31, 2023, which was R$0.04 per share. The fair value calculation methodology was determined to be the same as the Public Warrants as both financial instruments have the same material rights and characteristics (i.e., both give the right to purchase one Nuvini ordinary share for the same price with the same exercisable period). The Group has recognized the following warrant obligations: Public Private Total Initial Recognition at September 29, 2023 9,887 9,930 19,817 Change in fair value (7,660 ) (7,693 ) (15,353 ) Balance at December 31, 2023 2,227 2,237 4,464 Non-controlling Interest The Company’s non-controlling interests were associated with Mercos as of December 31, 2022, and 2023 and Smart NX, as of December 31, 2023, Companies whose operations are based in Brazil. Prior to November 16, 2022, the Company reflected a 100% ownership interest in Mercos. However, as outlined in Note 5 to the consolidated financial statements, the Company’s equity interest in Mercos was reduced from 100% to 57.91% (42.09% being non-controlling interest), re-selling 42.09% of the Company’s capital to previous owners for R$1.00, thereby extinguishing the debt associated with the deferred and contingent consideration. Per the renegotiated terms, the financial liability (or a part of a financial liability) should be removed from its statement of financial position when it is extinguished. The Mercos deferred and contingent consideration extinguished as part of the renegotiated terms when the Company’s capital in Mercos was re-sold. The renegotiated terms also granted a call option for the Company to buy the 42.09% for a multiple of 7.6 times the accumulated revenue in the prior 12 months. As of December 31, 2023, and 2022, the Company assessed that the fair value of this call option was zero. The following tables summarize the information relating to the Company’s non-controlling interests in Mercos before and after intercompany eliminations: Summarized statement of financial position 2023 2022 Non-controlling interest 42.09 % 42.09 % Current assets 4,351 3,463 Non-current assets 4,668 3,796 Current liabilities (3,421 ) (2,849 ) Non-current liabilities (5,598 ) - Summarized statement of profit and loss Revenue 18,498 14,774 Expenses (14,139 ) (12,045 ) Profit (loss) for the year 4,359 2,729 Profit (loss) attributable to owners of the Company 2,525 2,527 Profit (loss) attributable to the non-controlling interests 1,835 202 Summarized statement of financial position 2023 At January 1, 2022 - Non-controlling interest arising on disposal of interest on Mercos 4,207 Share of profit for the year 202 Payment of dividends (556 ) At December 31, 2022 3,853 Share of profit for the year 4,359 Payment of dividends (5,173 ) At December 31, 2023 3,039 On January 25, 2023, as amended on February 23, 2023, June 8, 2023, and August 1, 2023, the Group entered into a business combination agreement whereas, Nuvini S.A agreed to acquire shares representing 50.2% of the total capital stock of Smart NX in an equity swap, in which the seller would receive shares of Nuvini. In addition, Nuvini S.A. has a call option to acquire the remaining shares of Smart NX representing 45% of the total capital stock of Smart NX to be paid in three installments on January 25, 2024, January 25, 2025, and January 25, 2026, for a variable consideration based on multiples of future Smart NX EBITDA in the Company’s national currency. As of December 31, 2023, the Company assessed that the fair value of this call option was zero. The following tables summarize the information relating to the Company’s non-controlling interests in Smart NX before and after intercompany eliminations: Summarized statement of financial position 2023 Non-controlling interest 45.00 % Current assets 2,396 Non-current assets 5,131 Current liabilities (1,680 ) Non-current liabilities (5,847 ) Summarized statement of profit and loss Revenue 12,209 Expenses (9,719 ) Profit (loss) for the year 2,490 Profit (loss) attributable to owners of the Company 1,370 Profit (loss) attributable to the non-controlling interests 1,121 At January 1, 2023 - Initial recognition 706 Share of profit for the year 2,490 Payment of dividends (1,906 ) At December 31, 2023 1,290 Subscription rights In March, May, and December 2022, the Company issued subscription rights to investors for total consideration of R$2,500, R$1,000, and R$250, respectively. The subscription rights may be exercised within 30 days from the approval of the Group’s first capital increase in an amount of at least R$100,000 that results in the issuance of shares by the Group (the “Contribution Event”) or within 30 days of the second anniversary from the subscription rights’ issuance date if no Contribution Event has occurred. The number of shares to be issued to these investors will be determined based on the fair value of Nuvini Holding’s Limited shares on the date of the Contribution Event or based on the fair value per share of the last capital increase in the event that no Contribution Event occurs, utilizing the following formula: consideration paid divided by the fair value of the Company’s share x 0.9 (in case there is a Contribution Event) or consideration paid divided by the fair value of the Company’s share of the last capital increase x 0.8 (in case no Contribution Event occurs). As the number of shares to be issued is variable, these subscription rights are recorded as liabilities based on FVTPL. In December 2022, all amounts payable to Pierre Schurmann under related party loans were converted into subscription rights with the same terms as described above. Please refer to Note 9 for details on these related party loans. In December 2022, the subscription right terms were amended so that the subscriptions rights could be exercised in the event of the Group signing a Business Combination Agreement (“BCA”) between the Company and a company with a SPAC or within 30 days after the second anniversary from the subscription rights issuance date if no Contribution Event or SPAC has occurred. As of December 31, 2022, these subscription rights were recorded as an equity instrument in Capital Reserves. As of December 31, 2023, upon consummation of the Business Combination, all subscription rights were converted to equity and issued to stockholders. Profit reserves Legal Reserve For periods prior to February 26, 2023, the financial statements represented the results of operations of Nuvini S.A. which was incorporated in Brazil. As such, Nuvini S.A. was subject to the following disclosures. For periods subsequent to February 6, 2023, the is a Cayman Island exempted limited liability company and therefore the following disclosures on legal reserves are not applicable. In accordance with Brazilian corporate law, the Company is required to allocate 5% of net income for any given year for the formation of a legal reserve subject to a maximum limit of 20% of share capital (in addition, if for any given financial year, the total amount of the legal reserve plus any amounts of capital reserves exceed 30% of capital stock, the Company is not required to allocate any income for the formation of the legal reserve). The legal reserve is also subject to approval by the general shareholders’ meeting and may be transferred to capital or used to absorb losses but is not available for the payment of dividends in subsequent years. As the Group was in a net loss position as of December 31, 2023, and 2022 and does not expect to be in a profit position in the near future, a legal reserve has not been recorded as part of the capital reserves balance. In addition to legal reserves, the Company’s Articles of Incorporation establish that additional reserves may be created upon shareholders’ approval, including investment reserves to secure the implementation, maintenance and development of Company’s activities limited to the total net profit after allocation of legal reserve. Brazilian Corporate Law provides that all statutory allocations of net profit, including the unrealized profits reserve and the reserve for investment projects, are subject to approval by the shareholders voting at a general shareholders’ meeting and may be used for capital increases or for the payment of dividends in subsequent years. The balance for the profit reserve accounts, except for the contingency reserve and unrealized profits reserve, may not exceed the share capital. If this happens, our shareholders must determine whether the excess will be applied to pay in the subscribed and unpaid capital, to increase and pay in the subscribed stock capital or to distribute dividends. The profits unallocated to the accounts mentioned above must be distributed as dividends. Capital reserves The balance of the capital reserves as of December 31, 2023, and 2022 is composed of debt instruments converted to equity, subscription rights and provision for share-based payments in connection with the Company’s share-based compensation plans as described in note 19. Dividend distribution policy For periods prior to February 26, 2023, the financial statements represented the results of operations of Nuvini S.A. which was incorporated in Brazil. As such, Nuvini S.A. was subject to the following disclosures. For periods subsequent to February 6, 2023, the is a Cayman Island exempted limited liability company and therefore the following disclosures on dividend distribution policy are not applicable. Under the Group’s bylaws, unless otherwise proposed by the Board of Directors and approved by the voting shareholders at the annual shareholders’ meeting, the Company must generally pay shareholders a mandatory minimum dividend of 25% of adjusted net income, as defined in accordance with Brazilian Corporate Law, after the allocation of 5% of net income to the legal reserve. However, net income may be used to increase share capital, used to set off losses and/or otherwise retained in accordance with the Brazilian Corporate Law and may not be available for the payment of dividends, including in the form of interest on shareholders’ equity. Brazilian Corporate Law defines the “net income” as net income for the year, reduced by accumulated losses of prior years, provisions for income tax and social contribution on the net profit for such fiscal year, and amounts allocated to employees’ and management’s participation on the results in such fiscal year. Under Brazilian Corporate Law, the net income available for distribution as dividends may also be reduced or increased by the following: ● amounts allocated to the legal reserve, ● amounts allocated to the statutory reserve, if any, ● amounts allocated to the contingency reserve, if required, ● amounts allocated to the unrealized profit reserve, ● amounts allocated to the retained profit reserve, ● amounts allocated to the income tax exemption reserve, ● reversals of reserves recorded in prior years, and ● reversals of the amounts allocated to the unrealized profit reserve, if any, when realized and not absorbed by losses As an alternative form of payment of dividends, Brazilian companies may distribute interest on capital, whose payments may be treated by a company as a deductible expense for income and social contribution taxes purposes. Payments of interest on capital may be made at the discretion of the Board of Directors, subject to shareholder approval. Payments of interest attributed to shareholders’ equity, net of withholding tax, may be distributed as part of the minimum mandatory dividends. Interest on capital is calculated in accordance with the daily pro rata variation of the Brazilian government’s long-term interest rate, as determined by the Central Bank from time to time, and cannot exceed the greater of: ● 50% of net income (after the deduction of the social contribution on profits and before the provision for corporate income tax and the amounts attributable to shareholders as net interest on equity) related to the period in respect of which the payment is made; or ● 50% of the sum of retained profits and profit reserves in the beginning of the period with respect to which the payment is made. Under Brazilian Corporate Law, a company may suspend the mandatory distribution either in the form of dividends or payments of interest on capital if the shareholders at the general shareholders’ meeting determine, based on the company’s board of directors’ proposal, which is reviewed by the fiscal council when installed, that payment of the mandatory distribution for the preceding fiscal year would be inadvisable in light of the company’s financial condition. The management of the company must report to the Brazilian Securities Commission (“CVM”) such suspension within five days of the relevant general shareholders’ meeting. Under Brazilian Corporate Law, mandatory distributions that are suspended and not offset against losses in future years must be paid as soon as the financial condition of the company permits. As the Group was in a net loss position as of December 31, 2022, and 2021, no

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2023
Net Loss Per Share [Abstract]
Net loss per share	Note 18. Net loss per share The table below shows data of net loss and shares used in calculating basic and diluted loss per share attributable to the ordinary equity holders of the Company: Years ended December 31, 2023 2022 2021 Net loss (247,862 ) (114,206 ) (77,699 ) Weighted average shares outstanding—basic and diluted (i) 23,090,092 17,623,570 15,986,834 Net loss per ordinary share—basic and diluted (10.73 ) (6.48 ) (4.86 ) (i) Share data have been revised to give effect due to the recapitalization of Nvni Group Limited as explained in Note 17. Equity and divestitures. Basic net loss per share is computed by dividing the net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. As of December 31, 2023, 2022 and 2021, the Group reported a net loss, therefore, potentially dilutive instruments, may be excluded in the calculation of weighted average number of ordinary shares, including those related to share options and subscription rights outstanding as of December 31, 2023, 2022 and 2021, as their impact is anti-dilutive. The calculation is reflective of the weighted average number of ordinary shares including dilutive shares. These options and variable shares, per the subscription rights agreements, could potentially dilute basic earnings per share in the future, as well as shares that will be issued in the future related to renegotiations of the deferred and contingent consideration and additional subscription rights issued.

Share-Based Compensation Plan

Share-Based Compensation Plan	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Plan [Abstract]
Share-based compensation plan	Note 19. Share-based compensation plan On November 27, 2020, the Company Stock Option Plan (“CSOP’’) was approved at the extraordinary general shareholders’ meeting of Keiretsu and approved on June 30, 2021, at the extraordinary general shareholders’ meeting of Nuvini as part of the merger. The Company issues equity settled share-based payments to executives of the Group and advisors. The Group measures the cost of transactions settled with shares to its employees, based on the fair value of the equity instruments on the date of their grant. Share option plan As of December 31, 2023, and 2022, the Company had 1,949,796 and 13,401,980 options, respectively, outstanding. Generally, upon completion of the first year of employment, one-third of options will vest, and the remainder will vest monthly over the next three years. If the options remain unexercised after a period of five years after the date of grant, the options expire. Upon consumption of the business combination, all unvested shares were subject to a 50% acceleration and 50% of the unvested awards granted under the historical stock option plan to employees automatically vest, with the remainder being forfeited. The total expense recognized as of December 31, 2023, 2022 and 2021 resulting from share-based option awards was R$6,255, R$9,884 and R$3,738 respectively, in general and administrative expenses in the statement of loss. The fair value of each share option award was estimated at the time of grant for each option using the Black- Scholes option pricing model. The key assumptions used for options granted during the years ended December 31, 2023, 2022 and 2021, were as follows: 2023 2022 2021 Exercise price R$2.32 R$2.32 R$0.50 - R$2.32 Fair value of common share R$2.70 - R$3.26 R$2.70 - R$3.26 R$0.50 - R$2.32 Volatility 54.9% - 58.4% 54.9% - 58.4% 52.2% - 55.3% Risk-free interest rate 10.63% - 12.52% 10.63% - 12.52% 6.58% - 11.45% Dividend yield 0% 0% 0% Expected option life 5 - 7 years 5 - 7 years 4.9 - 7 years Expected volatility was determined using historical and implied stock price volatility from guideline companies, adjusted for size and leverage. As a result, the fair value of the share options ranged between R$1.763 and R$2.540 per option for the year ended December 31, 2023, and 2022 and R$0.211 and R$1.643 per option for the year ended December 31, 2021. The number and weighted average exercise price of share options were as follows: 2023 2022 2021 Weighted Number of Weighted Number of Weighted Number of Outstanding at January 1 1.91 13,401,980 1.07 14,114,763 0.50 11,000,0000 Granted during the year 2.32 - 2.32 10,401,980 1.98 5,420,319 Forfeited/canceled during the year 2.32 - 1.22 (11,114,763 ) 0.50 (2,305,556 ) Conversion of stock option subject to conversion ratio (i) 1,949,796 Outstanding at December 31 2.32 1,949,796 1.91 13,401,980 1.07 14,114,763 Exercisable at the end of the year 2.32 1,631,370 0.50 2,250,000 0.50 5,380,556 As of December 31, 2023, there were 11,213,267 options exercisable of Nuvini Holdings Limited, which converted into 1,631,370 options of Nvni Group Limited. No options had been exercised or had expired and the options outstanding had a weighted average remaining contractual life of 3.56 years. During the transfer of outstanding shares from Nuvini Holdings Limited to Nvni Group Limited, a conversion ratio (i) Equity Incentive Plan Following the completion of the business combination, which occurred after the special meeting of stockholders on September 28, 2023, and the subsequent finalization of the combination, the Nuvini board of directors adopted and shareholders approved, an equity incentive plan in which eligible participants may include members of Nuvini management, Nuvini employees, certain members of the Nuvini Board and consultants of Nuvini and its subsidiaries. Beneficiaries under the equity incentive plan will be granted equity awards pursuant to the terms and conditions of the equity incentive plan and any applicable award agreement. The final eligibility of any beneficiary to participate in, and the terms and conditions of, the applicable equity awards will be determined by the Nuvini Board. Pursuant to the Business Combination Agreement, the equity incentive plan has initially reserved a total of 1,143,650 Ordinary Shares.

Net Operating Revenue

Net Operating Revenue	12 Months Ended
	Dec. 31, 2023
Net Operating Revenue [Abstract]
Net operating revenue	Note 20. Net operating revenue The Group recognizes operating revenue from its B2B SaaS platform where revenues are disaggregated as SaaS platform subscription services, and data analytics service, set-up and other services. Revenues are recorded net of applicable municipal service taxes (ISS) and federal vat (PIS and COFINS) taxes, as well as contract cancellations and returns. Below is a summary of net operating revenue for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Gross operating revenue 181,725 135,643 98,433 Revenue deductions: Cancellations and returns (1,353 ) (1,822 ) (1,357 ) Taxes on services (11,387 ) (9,276 ) (7,212 ) Total revenue deductions (12,740 ) (11,098 ) (8,569 ) Net operating revenue 168,985 124,545 89,864 Disaggregation of net operating revenue for the years ended December 31, 2023, 2022 and 2021 is as follows: 2023 2022 2021 Platform subscription service 158,678 114,556 78,547 Cancellations, returns and taxes on services (10,692 ) (9,004 ) (6,780 ) Revenue from platform subscription service 147,986 105,552 71,767 Data analytics service 13,422 15,644 14,457 Cancellations, returns and taxes on services (1,478 ) (1,760 ) (1,491 ) Revenue from data analytics service 11,944 13,884 12,966 Set-up and service 8,661 4,733 4,613 Cancellations, returns and taxes on services (514 ) (307 ) (257 ) Revenue from set-up and service 8,147 4,426 4,356 Other revenue 963 710 816 Cancellations, returns and taxes on services (55 ) (27 ) (41 ) Other revenue 908 683 775 Total net operating revenue 168,985 124,545 89,864 Contract assets and deferred revenue related to contracts with customers The Group has recognized the following contract assets (included within trade accounts receivable) and deferred revenue related to contracts with customers. The contract asset activity as of December 31, 2023, 2022 and 2021, is as follows: At January 1, 2021 - Increase from business acquisitions 3,296 Decrease from transfers to accounts receivable (877 ) Increase from changes based on work in progress 638 At December 31, 2021 3,057 Decrease from transfers to accounts receivable (3,057 ) Increase from changes based on work in progress 2,272 At December 31, 2022 2,272 Decrease from transfers to accounts receivable (2,272 ) Increase from changes based on work in progress 4,862 At December 31, 2023 4,862 The deferred revenue activity as of December 31, 2023, 2022 and 2021, is as follows: At January 1, 2021 38 Increase from business acquisitions 5,512 Increase in deferred revenue in the current year 9,658 Revenue recognized during the current year (10,840 ) At December 31, 2021 4,368 Increase in deferred revenue in the current year 9,566 Revenue recognized during the current year (10,113 ) At December 31, 2022 3,821 Increase in deferred revenue in the current year 9,845 Revenue recognized during the current year (10,521 ) At December 31, 2023 3,145 Deferred revenue is allocated to remaining performance obligations and represents contracted revenue that has not yet been recognized, including unearned revenue and amounts that have been invoiced and will be recognized as revenue in future periods. The Company expects to recognize all revenue over the next 12 months and is classified as other current liabilities in the consolidated statement of financial position.

Cost and Expenses by Nature

Cost and Expenses by Nature	12 Months Ended
	Dec. 31, 2023
Cost and Expenses by Nature [Abstract]
Cost and expenses by nature	Note 21. Cost and expenses by nature The operating costs and expenses by nature for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Payroll (90,182 ) (83,042 ) (57,026 ) Third-party services and others (24,106 ) (22,383 ) (19,781 ) Business and marketing expenses (7,484 ) (6,441 ) (8,098 ) Depreciation (1,050 ) (1,810 ) (1,071 ) Amortization (17,600 ) (15,424 ) (12,507 ) Impairment of goodwill (11,373 ) (86,897 ) (6,758 ) Audit and consulting (38,660 ) (4,430 ) (5,574 ) Other administrative expenses (7,464 ) (1,771 ) (1,758 ) Provisions 1,515 1,953 (8,676 ) Fair value of derivative warrant liabilities 14,507 - - Listing Expense (i) (176,282 ) - - Total (358,179 ) (220,245 ) (121,249 ) Cost of services provided (66,138 ) (52,813 ) (35,833 ) Sales and marketing expenses (28,827 ) (27,370 ) (22,597 ) General and administrative expenses (93,156 ) (53,339 ) (56,019 ) Listing expense (176,282 ) - Research and development expenses - (8 ) (54 ) Impairment of goodwill (11,373 ) (86,897 ) (6,758 ) Other operating income (expenses), net 17,597 182 12 Total (358,179 ) (220,245 ) (121,249 ) (i) Listing Expense The SPAC merger was accounted for as a capital reorganization with Nvni Group Limited determined to be the accounting acquirer of Mercato. Mercato does not meet the definition of a “business” pursuant to IFRS 3 Business Combinations, and therefore the Business Combination is expected to be considered a capital transaction and shall be accounted for as a share-based payment transaction under IFRS 2 Share-Based Payments, whereby Nvni Group Limited will issue shares for Mercato’s net assets. Under this method of accounting, the acquisition of Mercato will be stated at historical cost, with no goodwill or other intangible assets recorded. Accordingly, the Group recorded a one-time non-cash expense of R$(176,282). In accordance with IFRS 2, the expense represents the cost incurred in connection with achieving a listing on the Nasdaq Global Market (the “Listing Expense”). The expense is calculated as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired, as noted below: (in thousands of R$) Fair value of equity instruments issued to acquire Mercato 275,555 Net assets of Mercato as of June 30, 2023 162,862 Less: Mercato’s transaction costs (63,589 ) Adjusted net assets/(liabilities) of Mercato as of June 30, 2023 99,273 IFRS 2 charge for listing services (176,282 )

Financial Income and Expense, N

Financial Income and Expense, Net	12 Months Ended
	Dec. 31, 2023
Financial Income and Expense, Net [Abstract]
Financial income and expense, net	Note 22. Financial income and expense, net The financial income and expense, net for the years ended December 31, 2023, 2022 and 2021 is composed of the following: 2023 2022 2021 Financial income: Income on financial investments (i) 328 209 356 Interest income 799 638 211 Discounts obtained 15 42 11 Mercos deferred and contingent consideration adjustment - 16,029 - Subscription rights fair value adjustment 3,933 - - Exchange variation (foreign exchange profit) 2,096 - - Total 7,171 16,918 578 Financial Expenses: Contingent consideration fair value adjustments (40,535 ) (16,294 ) (32,365 ) Interest on loans, financing and debentures (12,985 ) (12,425 ) (5,513 ) Subscription rights fair value adjustment - (1,334 ) (2,619 ) Other interest and expense (6,579 ) (3,388 ) (1,747 ) Exchange variation (foreign exchange losses) (95 ) (111 ) (68 ) Exposure premium expense (2,087 ) (96 ) (745 ) Total (62,281 ) (33,648 ) (43,057 ) Financial income and expense, net (55,110 ) (16,730 ) (42,479 ) (i) The increase in the fair value adjustment of contingent consideration as of December 31, 2023, is due to the remeasurement of the contingent consideration, driven by higher revenue and interest recorded in 2023 compared to 2022.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
Income tax	Note 23. Income tax Considering that the Company is domiciled in Cayman and there is no income tax in that jurisdiction, the combined tax rate of 34% demonstrated below is the current rate applied to the Group which is the operational and main company of all operating entities of the Group in Brazil. Current tax Income tax on net profit or loss was calculated in accordance with applicable Brazilian law, applying tax rates for regular and presumed income tax regime, as described in note 3 related to taxation. The income tax recorded in income for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 Loss before income tax (244,304 ) (112,430 ) (73,864 ) Income tax credit at the combined rate of 34% 83,063 38,226 25,114 Adjustments for the demonstration of the effective rate: Non-deductible expenses 385 (34 ) (112 ) Presumed income tax calculation effect (i) - (200 ) (4,230 ) Unrecognized tax loss carryforwards and temporary differences (ii) (97,273 ) (44,790 ) (28,745 ) Deferred tax liability expenses from identifiable assets acquired of businesses 5,072 5,635 3,956 Research and development tax benefit 3,247 - Other 1,948 (613 ) 182 Income tax recorded in the income for the year (3,558 ) (1,776 ) (3,835 ) Current tax (9,751 ) (5,769 ) (7,791 ) Deferred tax 6,193 3,993 3,956 Effective tax rate 1.46 % 1.58 % 5.19 % (i) As described in note 3, the taxation under Brazilian Tax Law allows certain companies to calculate income taxes as a percentage of gross revenue, using the presumed income tax regime. The effect of the presumed income tax of certain subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the regular income tax rate applied to the taxable profit of the subsidiaries. (ii) The Company has not recorded a deferred tax asset on tax loss carryforwards and temporary differences as the Company does not expect to realize these tax benefits in the foreseeable future. Tax losses may be carried forward indefinitely, though the amount of the carryforward that can be utilized is limited to 30% of taxable income in each carryforward year. As of December 31, 2023, 2022 and 2021, the Group had total tax losses of R$124,730, R$78,573 and R$30,397, respectively. Deferred tax liability As of December 31, 2023, and 2022, deferred tax liabilities are recognized for the temporary differences between the book and tax basis of intangible assets recorded in connection with business combinations in the amount of R$44,566 and R$45,838, respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Information [Abstract]
Segment information	Note 24. Segment information An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. For reviewing the operational performance of the Group and for the purpose of allocating resources, the Chief Operating Decision Maker (“CODM”) of the Group, identified as the Chief Executive Officer, reviews the consolidated results as a whole. The CODM considers the Group a single operating and reportable segment, when monitoring operations, making decisions on capital and investment allocations and evaluating performance. General information The CODM of the Group receives and reviews consolidated financial results for the Group in making decisions concerning financial management, budgeting analysis, as well as evaluation of the business performance based on the consolidated financial results of the Group. The Company has determined that it has a single operating and reportable segment, multi-vertical SaaS solution model. Information on products and service The Group’s core business activity is providing a SaaS platform model focused on the software delivery method of cloud-based software applications to its customers. The Group generates revenues and profits by providing to customers SaaS platform subscription services, data analytics services, set-up and other services. A reconciliation of revenue by product and service is represented in note 20. Segment revenue and non-current assets by geographical area In presenting the geographical information, revenue is based on the region in which the customer is located. All intellectual property is located in Brazil. Assets are based on the geographic locations of the assets which are also centrally located in Brazil; therefore, the Group operates in one geographical location. For the years ended December 31, 2023, 2022 and 2021, the Group generated 100% of its revenues originating from customers located in Brazil, with an immaterial amount of revenue in 2021 originating from foreign customers. The Company’s non-current assets are entirely located in Brazil as of December 31, 2023, 2022 and 2021.

Supplementary Items to the Cash

Supplementary Items to the Cash Flow	12 Months Ended
	Dec. 31, 2023
Supplementary Items to the Cash Flow [Abstract]
Supplementary items to the cash flow	Note 25. Supplementary items to the cash flow In the years ended December 31, 2023, 2022 and 2021, the Group recorded the following non-cash transactions: Note 2023 2022 2021 Business combination: Trade accounts receivable, net 6 and 9 - - 7,809 Other assets 6 - - 1,735 Property and equipment, net 6 and 11 - - 1,735 Right-of-use assets 6 and 11 - - 1,058 Intangible assets 6 and 12 - - 125,802 Goodwill 6 and 12 - - 237,787 Accounts payable to suppliers 6 - - (7,808 ) Labor charges 6 - - (4,127 ) Loans and financing 6 and 14 - - (3,994 ) Right-of-use lease liabilities 6 and 11 - - (1,058 ) Taxes and fees 23 - - (3,253 ) Deferred taxes - - (40,730 ) Deferred and contingent consideration - - (282,205 ) Other liabilities - - (10,100 ) Provisions for risks 6 and 17 - - (22,651 ) Recognition of lease right-of-use asset in exchange for lease liabilities: Right-of-use assets, net 11 - - 1,972 Lease liability 11 - - (1,972 ) Capitalization of related party loans: Related party - - 3,201 Share capital - - (3,201 ) Capital reduction through the payment of subscription rights: Capital reserve 17 - - 1,500 Related party 17 - - (1,500 ) Creation of non-controlling interest at Mercos: Deferred and contingent consideration - 46,717 - Capital reserve 17 - (42,510 ) - Non-controlling interest 17 - (4,207 ) - Conversion of subscription rights to capital shares: Capital reserve - (1,500 ) - Share capital - 1,500 - Recognition of lease right-of-use asset in exchange for lease liabilities: Right-of-use assets, net 10 768 - - Lease liability 10 (768 ) - - Business Combination – Smart NX Cash and cash equivalents 998 - - Trade accounts receivable, net 3,061 - - Other current assets 5,545 - - Other non-current assets 1,204 - - Property and equipment, net 172 - - Right-of-use assets, net 107 - - Intangible Assets 6,201 - - Goodwill 15,960 - - Accounts payable to suppliers (894 ) - - Salaries and labor charges (776 ) - - Loans and financing (40 ) - - Lease liability (118 ) - - Taxes, fees and contributions payable (940 ) - - Other current liabilities (1,211 ) - - Deferred and contingent consideration on acquisitions (26,848 ) - - Deferred taxes (2,421 ) - - Capital increase through the payment of subscription rights: Capital reserves 2,000 - - Share capital 33,910 Subscription rights (35,410 ) - - Loans from investors (300 ) Loan premium 14 (200 ) - - Conversion of deferred and contingent consideration to capital shares: - - Deferred and contingent consideration 5 and 6 (64,255 ) - - Capital reserve 5 and 6 64,255 - -

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent events	Note 26. Subsequent events The Group evaluated subsequent events and transactions that occurred after the balance sheet date up to December 24, 2024, the date the financial statements were available to be issued. On January 15, 2024, Nuvini entered into distinct subscription agreements with specific PIPE investors. These investors agreed to subscribe to and purchase 1,358,824 shares, at a conversion price of US$1.700, in return for an investment of US$2,310,000. In January 2024, Nuvini received a notice of deficiency (the “Board Departure Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) relating to the resignation of Mr. Randy Millian from the board of directors of Nuvini and the audit committee of the board of directors. With the resignation of Mr. Millian, Nuvini ceased to be in compliance with Nasdaq Listing Rule 5605(c)(2)(A) requiring three independent members on its audit committee. The Board Departure Notice indicated that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq will provide Nuvini a cure period in order to regain compliance until the earlier of the Company’s next annual shareholders’ meeting or December 30, 2024 or, if the next annual shareholders’ meeting is held before June 26, 2024, then the Company must evidence compliance no later than June 26, 2024. On February 5, 2024, Nuvini announced the appointment of Mr. João Antônio Dantas Bezerra Leite as Board Member and Audit Committee Chair and has cured the Board Departure Notice deficiency. In May 2024, Nuvini received a notice of non-compliance (the “20-F Notice”) from the Listing Qualifications Department of the Nasdaq stating that Nuvini was not in compliance with Nasdaq Listing Rule 5250(c)(1) because Nuvini did not timely file its annual report for the fiscal year ended December 31, 2023 on Form 20-F with the SEC. The Notice indicated that, consistent with Nasdaq rules for continued listing, Nuvini would have 60 calendar days from the date of the Notice, or until July 16, 2024, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. On November 12, 2024, Nasdaq issued a Staff Determination Letter to the Company. On November 15, the Company formally requested a hearing and submitted a plea to remain listed. On November 22, the Company received confirmation of the hearing date and time, scheduled for January 14, 2025, at 11:00a.m. (E.T.). This date serves as the deadline for the Company to present a formal compliance plan and demonstrate its efforts to regain compliance. In addition, Nuvini received a notification letter (the “Bid Price Notice”) dated November 1, 2024, from the Listing Qualifications Department of the Nasdaq notifying Nuvini that the minimum bid price per share of its ordinary shares was below US$1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of one hundred eighty (180) calendar days from the Bid Price Notice, or until April 30, 2025 (the “Compliance Period”), to regain compliance with Nasdaq’s Minimum Bid Price Requirement. If at any time during the Compliance Period, the closing bid price per share of the Company’s ordinary shares is at least US$1.00 for a minimum of ten (10) consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. On November 1, 2024, Nuvini entered into a Convertible Promissory Note Purchase Agreement (the “Note Purchase Agreement”) with Heru Investment Holdings Ltd., an entity controlled by the Company’s Chief Executive Officer, and other investors (collectively, the “Investor”), for the purchase of convertible promissory notes (the “Convertible Notes”) in the principal amount of at least US$2,900,000 and up to US$5,000,000. The Convertible Notes shall mature within 12 months from the issuance date (the “Maturity Date”) and interest shall accrue at an annual rate of 5.00%, calculated on the basis of a 365-day year. Prior to the Maturity Date, the Investors shall have the option to convert the Convertible Notes into ordinary shares of the Company resulting from the division of the principal amount and accrued interest under the Convertible Notes by a conversion price of US$1.10 per ordinary share. The transaction is expected to close within 90 days from the date of the Note Purchase Agreement. On November 1, 2024, Nuvini completed the issuance and sale in a private placement of a total of 766,957 ordinary shares of Nuvini for gross proceeds of approximately US$580,824, or US$0.75 per share (the “Per Share Purchase Price”) in accordance with the terms and conditions of subscription agreements (the “Subscription Agreements”) entered into with each of the investors in the private placement (the “Investors”). Under the Subscription Agreements, each Investor also received a put option (“Put Option”) pursuant to which, commencing on the one year anniversary of the closing of the private placement, each Investor has the right to sell to the Company all or any portion of the ordinary shares such Investor purchased under its respective Subscription Agreement at a sale price per share equal to 120% of the Per Share Purchase Price. The Put Options automatically terminate on the earlier of (i) the second-year anniversary of the closing of the private placement and (ii) the first date on which the closing sale price of the Company’s ordinary shares as reported by Nasdaq equals or exceeds US$5.00 for twenty (20) trading days (whether or not consecutive) during any period of thirty (30) consecutive trading days. The Subscription Agreements also provide the Investors with certain registration rights to file a registration statement with the Securities and Exchange Commission covering the resale of the ordinary shares purchased under the Subscription Agreements. The ordinary shares sold in the private placement were sold pursuant to the exemption from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended. On November 7, 2024, and November 17, 2024, Nuvini entered into distinct subscription agreements with specific PIPE investors. These investors agreed to subscribe to and purchase 1,213,714 ordinary shares, at a conversion price of US$0.7573, in exchange for an investment of US$919,158. As of December 24, 2024, no deferred and contingent consideration amounts owed on the third installments of Leadlovers, Onclick, Datahub and Ipe due in February 2024 and April 2024 have been paid by the Company. All installments due dates have been extended to December 31, 2024. The Company is working on issuing amendments to the deferred and contingent consideration agreements, which will further extend the due date of the installments owed to 2025. Past due payments on the installments have been accruing interest and penalties, calculated as a percentage of the total amount owed, which is included in the outstanding deferred and contingent consideration totals as of December 31, 2023.

Correction of Immaterial Errors

Correction of Immaterial Errors	12 Months Ended
	Dec. 31, 2023
Correction of Immaterial Errors [Abstract]
Correction of immaterial errors	Note 27. Correction of immaterial errors Subsequent to the initial issuance of the consolidated financial statements for the year ended December 31, 2023, the Company identified that certain activities were misclassified within cash flows from operating activities in the consolidated statements of cash flows for the year ended December 31, 2023. Specifically, the Company improperly classified activity between lines relating to tax and fee liability, income taxes paid, taxes on provisions, and loss before income tax for the year ended December 31, 2023. The Company has evaluated the effect of the incorrect presentation, both qualitatively and quantitatively, and concluded that it did not have a material impact individually or in the aggregate, as evaluated under the Securities and Exchange Commission Staff Bulletin No. 99, Materiality and IAS 8, Accounting Policies, Changes in Accounting Estimates and Error on the previously filed annual consolidated financial statements. The following are selected line items from the aforementioned Consolidated Statement of Cash Flows illustrating the effect of the error corrections thereon: Consolidated Statement of Cash Flows: For the year ended December 31, 2023 As previously reported Adjustments As adjusted Loss before income tax (247,862 ) 3,558 (244,304 ) Taxes on provisions (12,389 ) 12,389 - Taxes and fees (767 ) 3,301 2,534 Income taxes paid 9,624 (19,248 ) (9,624 ) Additionally, the Company identified a typographical error in Note 17 regarding the subscribed and paid-in-capital balance. The balance was previously reported as 430,268 and was adjusted to be 260,685. There was no impact to any other financial statements for the periods presented or prior year financial information.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of consolidation	Basis of consolidation As of December 31, 2023, 2022 and 2021, the consolidated financial statements include information from the subsidiaries Effecti, Leadlovers, Ipe, Datahub, Mercos, Onclick, Nuvini LLC, Nuvini S.A. and Smart NX. The consolidated financial statements incorporate the financial positions and the operational results of subsidiaries that the Group controls. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains on transactions between the Company and its subsidiaries are eliminated, if applicable.
Functional currency and presentation currency	Functional currency and presentation currency The items included in the Group’s financial statements are measured using the currency of the main economic environment in which the Group operates (its “functional currency”). The financial statements are presented in thousands of Brazilian Reais (R$), which is the functional currency of the Group.
Business combinations	Business combinations Business acquisitions are accounted for using the acquisition method. The Group determines that it has acquired a business, rather than a group of assets, when the acquired set of assets and activities include an input and a substantive process that together significantly contribute to the ability to create outputs. Acquisition-related costs are expensed when incurred. The consideration transferred in a business combination is measured at fair value. On the acquisition date, identifiable assets acquired and liabilities assumed are recognized at fair value on the acquisition date, unless otherwise stated. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. When consideration transferred by the Group in a business combination includes an obligation of the Group to provide additional payments to the sellers based on future performance of the business sold or services to the Group (a contingent consideration, as described in note 5), the Group evaluates whether the contingent consideration should be accounted for as compensation for post-combination services or contingent consideration and included in consideration transferred in accordance with IFRS 3—Business Combinations (“IFRS 3”). If the Group determines the arrangement is contingent consideration, the arrangement is further evaluated to see if the payments should be accounted for as an additional cash consideration or equity interests to the former owners (seller) if certain future events occur. The current arrangements resulting from the acquisitions detailed in note 6 have been accounted for as contingent consideration, are measured at fair value at the acquisition date and included in the consideration transferred. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retroactively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the measurement period (which cannot exceed one year from the acquisition date), related to facts and circumstances that existed at the acquisition date. Deferred and Contingent considerations are remeasured at fair value at subsequent reporting dates and changes in fair value are recognized in profit or loss. Deferred consideration that are based on fixed contractual amounts are at amortized cost. If the initial accounting for a business combination is incomplete at the end of the period in which the combination occurred, the Group records provisional amounts based on estimated or projected values for items for which accounting is incomplete. These provisional amounts are adjusted during the measurement period or additional assets and liabilities are recognized to reflect new information obtained relating to facts and circumstances existing at the acquisition date, which, if known, would have affected the amounts recognized on that date.
Financial instruments	Financial instruments Financial assets and financial liabilities are recognized in the Group’s statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets are presented as current assets, except those with maturity of more than 12 months after the balance sheet date. The classification of the Group’s financial assets and liabilities is detailed in note 6. Financial assets All recognized financial assets are measured subsequently in their entirety at either amortized cost or fair value, depending on the classification of the financial assets. Classification of financial assets Financial assets that meet the following conditions are measured subsequently at amortized cost: ● The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows. ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets that meet the following conditions are measured subsequently at fair value through other comprehensive income (“FVTOCI”): ● The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets. ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. By default, all other financial assets are measured subsequently at fair value through profit or loss (“FVTPL”). Despite the foregoing, the Group may make the following irrevocable election/designation at initial recognition of a financial asset: ● The Group may irrevocably elect to present subsequent changes in fair value of an equity investment in other comprehensive income if certain criteria are met. ● The Group may irrevocably designate an investment that meets the amortized cost or FVTOCI criteria as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch. Amortized cost and effective interest method The effective interest method is a method of calculating the amortized cost of a financial instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses, through the expected life of the financial instrument, or, where appropriate, a shorter period, to the gross carrying amount of the financial instrument on initial recognition. Interest income is recognized using the effective interest rate for financial assets measured subsequently at amortized cost and at FVTOCI. Interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become credit-impaired. For financial assets that have subsequently become credit-impaired, interest income is recognized by applying the effective interest rate to the amortized cost of the financial asset. If, in subsequent reporting periods, the credit risk on the credit-impaired financial instrument improves so that the financial asset is no longer credit- impaired, interest income is recognized by applying the effective interest rate to the gross carrying amount of the financial asset. Financial assets at FVTPL Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss. The net gain or loss recognized in profit or loss includes any dividend or interest earned on the financial asset and is included in financial income and expense on the income statement. Impairment of financial assets The Group recognizes a provision for expected credit losses (“ECL”) on trade receivables and contract assets measured under IFRS 15. To measure the expected credit losses, trade receivables and contract assets have been grouped as they have substantially the same risk characteristics and are related to the same types of contracts; therefore, the expected loss rates for trade receivables are a reasonable approximation of the loss rates for the contract assets. The Group applies the ’simplified’ approach to measure the ECL, since the Group’s trade receivables do not include a significant financing component and are not considered to be complex. The Group therefore recognizes the lifetime expected credit losses over the life of the trade accounts receivable and other assets. The Group evaluates whether ECL would be required to be recorded for other assets periodically and on an individual basis. The nature of the Group’s SaaS business model mitigates the risk of credit losses, as customers usually pay in advance or have payment terms from 30-60 days. The Group estimates expected credit losses by taking into consideration historical credit losses experienced by aging and maturity categories based on contract or invoice payment due dates and financial factors specific to the customers, as well as general economic conditions. Write-off policy The Group writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over 3 months past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures and applicable legislation where appropriate. Any provisions and recoveries made are recognized in general and administrative expenses in profit or loss. Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. Financial liabilities and equity Classification as financial liability or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the terms and substance of the contractual arrangements. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group are recognized at the proceeds received, net of direct issue costs. A repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments. Financial liabilities Financial liabilities are subsequently measured (i) at amortized cost using the effective interest rate method or (ii) at FVTPL. ● Financial liabilities at FVTPL: Financial liabilities are classified at FVTPL when the financial liability is (i) a contingent consideration of a buyer in a business combination that is classified as a liability, (ii) held for trading, or (iii) designated at FVTPL. As of December 31, 2023, and 2022, the Group had financial liabilities designated at FVTPL recorded in the financial statements related to the contingent consideration related to the acquisition of equity interests in the subsidiaries, as detailed in notes 6 and 7. ● Financial liabilities at amortized cost: Financial liabilities other than (i) contingent consideration of a buyer in a business combination that is classified as a liability or, (ii) assigned to FVTPL are subsequently measured at the amortized cost using the effective interest rate method. Derecognition of financial liabilities The Group derecognizes financial liabilities only when its obligations are extinguished and canceled. The difference between the carrying amount of the financial liability and the consideration paid and payable is recognized in profit or loss. Derivatives Derivatives are recognized initially at fair value at the date the derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognized in profit or loss immediately. A derivative with a positive fair value is recognized as a financial asset, whereas, a derivative with a negative fair value is recognized as a financial liability. A derivative is presented as a non-current asset or non-current liability if the remaining maturity of the instrument is more than 12 months and is not due to be realized or settled within 12 months. Fair value measurement The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. The Group measures financial instruments at fair value on each balance sheet closing date. Fair value is the price that would be received by the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the assumption that the transaction to sell the asset or transfer the liability will occur (i) in the principal market for the asset or liability, or, in the absence of a main market, (ii) in the market most advantageous to the asset or liability. Measuring the fair value of a non-financial asset takes into account the ability of the market participant to generate economic benefits using the asset at its best possible use or by selling it to another market participant who would use the asset at its best use. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy described below, based on the lowest level information that is significant to the measurement of the fair value as a whole. ● Level 1—Quoted (unadjusted) market prices in active markets for identical assets or liabilities. ● Level 2—Evaluation techniques for which the lowest and most significant level information for measuring fair value is directly or indirectly observable. ● Level 3—Evaluation techniques for which the lowest and most significant level information for fair value measurement is not available. If all significant inputs required to measure the fair value of an instrument are observable, the instrument is included in level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. The fair value of the contingent consideration classified as level 3 is calculated based on the judgment of the Group and the probability of meeting the goals of the acquisition made during the year. The fair value is based on a business plan agreed to by Management and the seller of the acquired company, that includes projected revenue balances individual to each subsidiary and therefore is not deemed observable market data. For assets and liabilities recognized in the financial statements at fair value on a recurring basis, the Group determines whether there have been transfers between hierarchy levels, reassessing categorization (based on the lower and most significant level information for the fair value measurement as a whole) at the end of each reporting period.
Goodwill	Goodwill Goodwill is initially recognized and measured as described above in business combinations. Goodwill is not amortized, but is tested for impairment at least annually, or when circumstances indicate an impairment loss. For the purposes of the impairment test, goodwill is allocated to each of the Group’s cash generating units (“CGUs”). To determine the CGU, assets are grouped at the lowest levels for which there are independent cash flows. For purposes of this test, goodwill is allocated to the CGUs or groups of CGUs that will benefit from the synergies of the combination. The CGUs identified were Effecti, Ipe, Leadlovers, Datahub, Onclick, Mercos, as of January 2023, Smart NX. An impairment loss exists when the book value of the CGU exceeds its recoverable amount, which is the higher of the fair value less selling expenses and the value in use. If the recoverable amount of the CGU is less than the carrying amount, the impairment loss is first allocated to reduce the carrying amount of the goodwill allocated to the unit and, subsequently, to the other assets of the unit, proportionally to the carrying amount of each of the assets. Goodwill impairment losses are recognized in the period they are incurred. Impairment losses recognized for goodwill cannot be reversed in a subsequent period. On disposal of the CGU, the attributable value of goodwill is included in the calculation of profit or loss on disposal.
Intangible assets, net	Intangible assets, net Recognition and measurement Intangible assets acquired separately are measured at cost upon initial recognition. The cost of intangible assets acquired in a business combination corresponds to the fair value on the acquisition date. After initial recognition, intangible assets are stated at cost, less accumulated amortization and accumulated impairment losses. Internally generated intangible assets, excluding capitalized development costs, are not capitalized, and the expense is reflected in the statement of income in the year in which it is incurred. The useful life of an intangible asset is assessed as finite or indefinite. Intangible assets with finite lives are amortized on a straight-line basis over their economic useful lives and assessed for impairment whenever there is an indication of loss of economic value of the asset. The amortization period and method for an intangible asset with a finite life are reviewed, at least, at the end of each fiscal year. Changes in the estimated useful life or in the expected consumption of the future economic benefits of these assets are accounted for through changes in the amortization period or method, as the case may be, and are treated as changes in accounting estimates. Amortization of intangible assets with finite useful lives is recognized in the income statement within the general and administrative expenses category with the exception of the amortization of technology software and customer relationships intangible assets included in cost of sales expense category. Intangible assets with indefinite useful lives, such as goodwill, are not amortized, but are tested at least annually or when circumstances indicate loss due to devaluation of the asset in relation to losses due to reduction to its recoverable value, individually or at the level of the CGU. The indefinite life assessment is reviewed annually to determine whether this assessment remains justifiable. Otherwise, the change in useful life from indefinite to finite is made prospectively. As of December 31, 2023, 2022 and 2021, the following asset types have finite useful lives and the average useful lives applied by the Group remain unchanged as shown below: Category: Useful life (years) Technology software 5-10 Brands 22-25 Customer relationships 3-17 Non-competition agreements 5-6 An intangible asset is derecognized at the time of its sale (that is, the date on which the beneficiary obtains control of the related asset) or when no future economic benefits are expected from its use or sale. Any gain or loss resulting from the derecognition of the asset is recognized in the statement of profit or loss for the year. Subsequent expenses Subsequent expenses are capitalized only when they increase the future economic benefits incorporated into the specific asset to which they relate. All other expenses, including expenses with generated goodwill, trademarks and patents, are recognized in net profit or loss as incurred.
Property and equipment, net	Property and equipment, net Recognition and measurement Assets are measured at the historical cost of acquisition or construction, less accumulated depreciation and any accumulated losses due to impairment. When significant parts of an asset item have different useful lives, they are recorded as separate items of the asset. Any gains or losses on the disposal of an asset are recognized in net profit or loss. Subsequent costs Subsequent costs are capitalized only when it is likely that the future economic benefits associated with cost will be earned by the Group. Depreciation Depreciation is recognized using the straight-line method based on the estimated useful life of the assets and the assets’ residual values. As of December 31, 2023, 2022 and 2021, the average useful lives applied by the Group are the following: Category: Useful life Machinery and equipment 3 Furniture 10 Computer and peripherals 5 Facilities 10 Vehicles 10 Depreciation methods, useful lives and residual values are reviewed at each balance sheet date and adjusted where appropriate.
Leases	Leases The Group assesses whether a contract is, or contains, a lease, at inception of the contract. The Group recognizes a right-of-use asset (which includes real estate and office buildings) and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate. Lease payments include fixed payments (including substantially fixed payments) minus any rental incentives to be received, variable lease payments that are based on an index or a rate and expected amounts to be paid under residual value guarantees. The right-of-use assets comprises the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: ● The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is re-measured by discounting the revised lease payments using a revised discount rate. ● The lease payments change due to changes in an index or rate, in which case the lease liability is re-measured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). ● If a lease contract is modified and the lease modification is not accounted for as a separate lease, the lease liability is re-measured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification.
Research and development	Research and development Research expenses are recognized when incurred, and development expenses linked to technological innovations of software are capitalized when all of the following aspects are met: ● Technical feasibility can be demonstrated to complete the asset so that it is made available for use or sale. ● The Group has the ability to complete the intangible asset and intends to use or sell it. ● The way in which intangible assets will generate future economic benefits can be demonstrated ● Technical, financial and other adequate resources to complete the development and use or sale of intangible assets are available. ● The Group has the ability to reliably measure the expenses attributable to intangible assets during its development. Capitalized expenses, when the criteria described above are met, include labor costs that are directly attributable to the preparation of the asset. Development activities involve a plan or project aimed at producing new products for sale or enhancing a platform for use. All development costs, including intangible assets under development, have been internally generated by the Group, such as enhancing software features. The Group’s activity supported continuous development of the business processes focused on sales, marketing and customer service within the subsidiaries Onclick, Leadlovers and Mercos. Development costs are capitalized at cost and amortized over the useful life of the asset. Any capitalized development costs are evaluated for impairment at least annually.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash, cash deposits, and temporary short-term investments. Cash and cash equivalents together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are considered immediately convertible into a known amount of cash and are subject to a negligible risk of change in value. Cash and cash equivalents are recorded at cost plus income earned up to the balance sheet date, which does not exceed its market value or realizable value.
Trade accounts receivable, net	Trade accounts receivable, net Trade receivables are amounts due from customers for services performed in the ordinary course of business. Trade receivables are recognized initially at the transaction price unless they contain significant financing components when they are recognized at fair value plus, when applicable, a monetary variation for foreign currency adjustment incurred during the reporting period. The Group’s receivables come from the provision of services provided based on the customer’s terms of acceptance after the performance obligations have been met. They are generally due for settlement within 30 to 60 days and are therefore all classified as current assets. The Group estimates expected credit losses as described in note 3.
Accounts payable to suppliers	Accounts payable to suppliers Accounts payable are stated at known amounts, plus, when applicable, a monetary variation for foreign currency adjustment incurred during the reporting period.
Other assets and liabilities	Other assets and liabilities Other assets and liabilities are shown as known or calculable amounts, plus, where applicable, the corresponding income (charges) earned (incurred) up to the balance sheet date. The non-current assets and liabilities are classified in non-current assets and liabilities, respectively, and represent realizable rights and obligations payable after twelve months.
Revenue recognition	Revenue recognition Revenue is measured in accordance with IFRS 15—Revenue from Contracts with Customers (“IFRS 15”), which establishes five-step model for measuring and recognizing revenue from contracts with customers. The Group has adopted the practical expedient to apply IFRS 15 to a portfolio of contracts. The Group’s reported revenue is mainly attributable to software subscription and licensing revenues, including licensing fees, revenue from maintenance and product support services, customization and consulting services. The Group applies certain judgment in assessing the terms of revenue from contracts with customers. Revenues are recognized when there is a contract with the customer, the performance obligations are identified, the transaction price is reliably measurable and allocated, and when the control of the goods or services are transferred to the customer. For all contracts, the Group obtains formal evidence of customer acceptance of the service. Revenue stemming from software licensing is recognized after the software is made available to the customer, its value can be reliably measured (as per the terms of the agreement) and it is likely that future economic benefits will be generated in favor of the Group. The Group evaluates each contract individually, its critical terms and business relationship with its customer and any associated third party. Revenue from customization and consulting services are recognized as services are provided, according to the terms of the service contracts. Cases in which the service was provided, but not yet invoiced, are recorded as services to be invoiced under accounts receivable as contract assets. Cases in which services have not been provided but payment has been received, are recorded as a contract liability, herein referred to as “deferred revenue”, for services to be delivered in the future. Revenue is presented net of taxes, discounts, refunds and cancellations, when applicable. For specific subsidiaries of the Group (i.e. Leadlovers), standard contract terms state that customers have a right of refund within 30 days. At the point of sale, a refund liability and a corresponding adjustment to revenue is recognized for those products expected to be returned. Early pay discounts are not granted to customers, however a promotional discount to promote Holiday sales was granted in December 2023 and 2022, the total discounts given were immaterial and are recorded as a reduction to total revenue. All transaction prices are fixed and do not include variable pricing, apart from the transaction price for Effecti customers which includes a variable component where customers are offered a temporary discount if the customer has a valid expectation of a price concession. The discount granted to customers is immaterial as of December 31, 2023, 2022 and 2021. Revenue is not recognized if there is significant uncertainty in its realization. The Group separate revenues into (i) SaaS platform subscription services and (ii) data analytics, (iii) set-up and other services as follows: SaaS platform subscription services Revenue comprises (i) software subscription (subscription services), in which customers have access to software on multiple devices simultaneously in its latest version; (ii) maintenance, including technical support and technological evolution; and (iii) services, including cloud computing and customer service. The services listed are all part of the multi-vertical SaaS solution umbrella. Customers can benefit from each product or service on its own, or in conjunction with another readily available resource, and the promise to deliver each product or service is distinct and explicitly stated within the context of each contract. The individual functionalities of the platforms being offered to customers are grouped as a singular performance obligation if the functionalities are seen as part of the integrated service and are highly interrelated. The customer uses the Group’s online platform to purchase the services which are presented in a series of bundles. Customers can purchase access to the software platform via a software subscription or could purchase a bundle consisting of the software platform and maintenance or additional services. The bundles are all listed clearly for the customer with transparent pricing and services and are considered as one performance obligation since it represents a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. This revenue service is recognized on a monthly basis over the contract period as the performance obligation is satisfied and as services are provided, from the date on which the services and software are made available to the customer and all other revenue recognition criteria are met. A time-based output method to measure progress and recognize revenue on a straight-line basis over the contract term. Contract periods are typically 12 months in length. If in future contracts, performance obligations identified are not delivered concurrently or have the same pattern of transfer, the Group will establish the stand-alone selling price for each performance obligation and allocate the transaction price accordingly. Data analytics, set-up and other services Revenues from additional services that customers can add to the platform, recognized in accordance with IFRS 15, usually for the provision of services to customers linked to a specific service contract: (i) A licensing fee (which is on an invoice-basis and not subscription-based model) is recognized at a point in time when all risks and benefits inherent in the license are transferred to the buyer through the availability of the software and the value can be measured reliably, as well as it is probable that the economic benefits will be generated in favor of the Group. (ii) Revenues from implementation and customization services represent a performance obligation distinct from other services and are billed separately and recognized over time as costs incurred in relation to the total expected costs, realized according to the execution schedule and when there is a valid expectation of receipt of the customer. The Company allocates the transaction price to each performance obligation based on its relative standalone selling price. The performance obligations, such as implementation services and customization services, have observable inputs that are used to determine the standalone selling price of those distinct performance obligations. Invoiced revenues that do not meet the recognition criteria do not make up the balances of the respective revenue accounts and receivables. (iii) Revenue from consulting and training services is recognized at the time the services are provided and consideration is received.
Taxation	Taxation Current income tax Current income tax is the amount of corporate income taxes expected to be payable or recoverable by the Group’s entities, based on the profit for the period as adjusted for items that are not taxable or not deductible, and is calculated using tax rates and laws that were enacted or substantively enacted at the balance sheet date in the jurisdictions in which the Group entities operate. In Brazil, income tax is generally computed on taxable income at the rate of 15%, plus an additional 10% for profits that exceed R$240 in the 12-month period, plus an additional social contribution taxed at the rate of 9%. As of December 31, 2022, subsidiary Apie.comm qualified for the presumed profit method. Under the presumed profit method, the income tax is determined by applying the same rates stated above to a determined presumed profit margin which ranges from 8% to 32% applied to gross revenues, depending on the taxpayer’s activity. Use of the presumed profit method is generally limited to entities with gross revenues of less than R$78 million in the prior taxable year. As of December 31, 2023, Smart NX Ltda qualified as a small business with non-significant annual revenue and was qualified for the Simples Nacional tax. Under this regime, the company was subject to a tax rate of 11.5% applied to its monthly revenue. All other Company subsidiaries record taxable income under the Lucro Real (“Actual profits”) taxation regime. Use of the Lucro Real method is required for Companies with gross revenue exceeding R$78 million in the prior taxable year but is electable. This method is electable by Companies who do not meet the gross revenue target. Deferred income tax Deferred income tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts on the balance sheet. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the balance sheet date, and which are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax liabilities are generally recognized for all taxable temporary differences, but not recognized for taxable temporary differences arising on investments in subsidiaries where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax liabilities are not recognized on temporary differences that arise from goodwill, which is not deductible for tax purposes. Deferred tax assets are recognized to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilized and are reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are not recognized in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. Uncertain tax positions Brazilian tax legislation, regulations and interpretations are inherently complex and jurisprudence continuously evolves. The Group recognizes the income tax benefit of an uncertain tax position when it is more likely than not that the ultimate determination of the tax treatment of the position will result in that benefit being realized. However, this does not mean that tax authorities cannot challenge these positions. Interest charges on current tax liabilities that have not been funded are accrued, which includes interest and penalties, as applicable, arising from uncertain tax positions. These charges are recorded as a component of income tax expense.
Employee benefits	Employee benefits Short-term employee benefits Short-term employee benefit obligations are recognized as personnel expenses as the corresponding service is provided within general and administrative expenses on the income statement. A liability is recognized for the expected payment amount if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be reliably estimated. Share-based compensation plan The executives, advisors and employees of the Group receive share-based payments, where the beneficiaries provide services in exchange for equity securities. The cost of transactions settled with equity instruments is measured based on the fair value of the equity instruments at the date they were granted, using an appropriate valuation model, the details of which are provided in note 6. The cost is recognized in employee benefit expenses in conjunction with the corresponding increase in equity (in capital reserves), over the period in which the service is provided and, when applicable, performance conditions are fulfilled (“vesting period”). The cumulative expense recognized for transactions that will be settled with equity securities on each reporting date up to the vesting date reflects the extent to which the vesting period may have expired and the Group’s best estimate of the number of grants that, ultimately, will be acquired. The expense or credit in general and administrative expenses in the income statement for the period represents the movement in the accumulated expense recognized at the beginning and end of that period. No expense is recognized for grants that complete their vesting period because performance and/or service conditions have not been met. When grants include a market condition or non-vesting condition, transactions are treated as vesting regardless of whether the market condition or non-vesting condition is met, provided that all other performance conditions and/or services are met.
Net loss per share	Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of ordinary shares outstanding during the period. Diluted net loss per share is computed by giving effect to all potential ordinary shares, including outstanding share options, subscription rights and potential conversions related to the debentures, to the extent dilutive. Basic and diluted net loss per share was the same for the periods ended December 31, 2023, and 2022 as the inclusion of all potential common shares outstanding would have been anti-dilutive.
Related parties	Related parties Related party transactions are the transfer of resources, services or obligations between the Group and a related party, regardless of whether a price is charged in return. Related party transactions that are carried out between the Group are eliminated for consolidation purposes. As of December 31, 2023, 2022 and 2021, the Group maintained transactions with related parties. Information on related parties is described in note 9.
Use of estimates and judgments	Use of estimates and judgments In the preparation of financial statements, it is necessary that Management make use of estimates and adopt assumptions for the accounting of certain assets, liabilities and other transactions. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances, the result of which forms the basis of the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions and may materially affect the financial results or the financial position reported in future periods. The following are significant estimates, assumptions and judgements made by Management in the years ended December 31, 2023, 2022 and 2021. Fair value of financial liabilities Nuvini Warrants (see note 17) are recorded as financial liabilities on the consolidated statement of financial position and are measured on each reporting date. In assessing the fair value of the warrants, the fair value was calculated based on the listed market price of such warrants (level 1). Liabilities for contingent consideration for acquisitions (see notes 6) are measured at estimated fair value, level 3, which requires significant judgment by Management regarding unobservable market data and assumptions as to the amounts and probability of the acquired subsidiaries meeting future financial and operating targets is based on business plans agreed to by Management and the Sellers. The Exposure Premium (see note 15), as well as the subscription rights (see note 17), are derivative liabilities measured at estimated fair value (level 3), which requires significant judgment by Management regarding assumptions as to the probability and timing of a liquidity event occurring, as well as the estimated fair value of the Company in the future. These estimates incorporate assumptions about future operating performance of the Company, general economic conditions, future interest rates and market volatility, among others. In estimating the fair value, the Group uses market-observable data to the extent it is available. The Group engages valuation specialists to assist in establishing the appropriate valuation techniques and inputs for its valuation model. The estimated fair values are particularly sensitive to changes in one or more unobservable inputs which are considered reasonably possible within the next financial year. Impairment of tangible and intangible assets, including goodwill Management tests tangible and intangible assets, including goodwill, for impairment at least annually, or more frequently if events or changes in circumstances indicate that the tangible or intangible asset might be impaired and there are indicators that show a deterioration of the fair value. When such evidence is identified and the net book value of the tangible or intangible asset exceeds its recoverable value, a provision is made for impairment, adjusting the carrying value to the recoverable value. The Group analyzed evidence of loss to recoverable value of assets, considering internal and external factors as provided for by IAS 36—Impairment of Assets, and identified the existence of factors that resulted in recording impairment losses on certain CGUs, as described in note 11. Provision for risks Risk provisions are identified and recorded based on the risk assessment made by Management. This risk assessment is based on information available on the date of preparation of the financial statements. Periodically, the Group revisits its evaluation as a result of the progress of the processes and obtaining new information. In 2023 and 2022, the Group recorded provisions for risk related to employee labor tax and certain labor and civil lawsuits in which likelihood of loss was determined as probable by Management. For further information on risk provisions recorded during the years ended December 31, 2023, 2022 and 2021, see note 16. Provision for expected losses from accounts receivable When deemed necessary by Management, the provision for expected losses of accounts receivable is recorded, considering the concept of expected losses in accordance with IFRS 9—Financial Instruments (“IFRS 9”). Management takes into consideration historical credit loss experience by aging categories (i.e. maturity buckets based on contract or invoice payment due date) and financial factors specific to the debtors and general economic conditions when calculating expected losses. Management uses the assumption that default occurs when the contract payments with customers are past due over 90 days. Acquisition price allocation—business combination and accounting treatment of commitments made for acquisition of equity interest During the acquisition price allocation process in a business combination, Management uses assumptions (including growth rate, projections, discount rate, useful life, among others), which involve a significant level of estimates and judgments in order to determine the fair value of the net assets acquired, liabilities assumed and determination of goodwill and other intangible assets. See further details regarding business combinations in note 5. Share-based compensation The Group estimates the fair value of stock option awards on the grant date using the Black-Scholes option pricing model. Management must determine the appropriate assumptions to use to estimate the fair value of the equity instruments, including the expected option life, expected volatility, and risk-free interest rate. See further details regarding share-based compensation in note 19. Deferred tax Deferred income tax assets are recognized for all unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax-planning strategies. As of December 31, 2023, 2022 and 2021, the Group has not recognized deferred tax assets related to tax loss carry forwards.
Listing Expenses	Listing Expenses Listing expenses consist of a one-time non-cash expense recorded in 2023, representing the cost incurred in connection with achieving a listing on the Nasdaq and calculated in accordance with IFRS 2 as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired.

Corporate and Business Inform_2

Corporate and Business Information (Tables)	12 Months Ended
	Dec. 31, 2023
Corporate and Business Information [Abstract]
Schedule of Subsidiaries	The following table lists the Company’s subsidiaries as of December 31, 2023. The subsidiaries have share capital consisting solely of ordinary shares that are held directly by the Company, and the proportion of ownership interests held equals the voting rights held by the Company. The country of incorporation or registration is also their principal place of business: Subsidiaries Place of Equity Equity Effecti Tecnologia Web LTDA. (“Effecti”) Brazil 100 % 100 % Leadlovers Tecnologia LTDA. (“Leadlovers”) Brazil 100 % 100 % Ipe Tecnologia LTDA. (“Ipe”) Brazil 100 % 100 % Dataminer Dados, Informacoes E Documentos LTDA (“Datahub”) Brazil 100 % 100 % Onclick Sistemas de Informacao LTDA. (“Onclick”) Brazil 100 % 100 % Simplest Software LTDA (“Mercos”) Brazil 57.91 % 57.91 % Smart NX Brazil 55 % - Nuvini S.A Brazil 100 % - Nuvini LLC United States of America 100 % 100 %

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Finite Useful Lives and the Average Useful Lives	As of December 31, 2023, 2022 and 2021, the following asset types have finite useful lives and the average useful lives applied by the Group remain unchanged as shown below: Category: Useful life (years) Technology software 5-10 Brands 22-25 Customer relationships 3-17 Non-competition agreements 5-6
Schedule of Average Useful Lives	As of December 31, 2023, 2022 and 2021, the average useful lives applied by the Group are the following: Category: Useful life Machinery and equipment 3 Furniture 10 Computer and peripherals 5 Facilities 10 Vehicles 10

Adoption of New and Revised A_2

Adoption of New and Revised Accounting Standards (Tables)	12 Months Ended
	Dec. 31, 2023
Adoption of New and Revised Accounting Standards [Abstract]
Schedule of Financial Statements in Future Periods	Management does not expect the adoption of the following standards to have a material impact on the Group’s financial statements in future periods. Pronouncement Description Amendment to IAS 7 Supplier Finance Arrangements - Statement of cash flows – Financial instruments Amendment to IFRS 16 Lease Liability in a Sale and Leaseback Amendment IAS 1 Classification of Liabilities as Current or Non-Current Amendment IAS 21 Lack of Exchangeability -The effects of changes in exchange rates Amendments to IAS 12 Income Taxes—Deferred Tax Related to Assets and Liabilities related to Pillar Two rules IAS 10 and IAS 28 Investments in Associates and Joint Ventures -Investments in associates and enterprises in set: Alignment of the wording of the aforementioned standards

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Schedule of Fair Values of Acquired Assets and Liabilities	The table below summarizes the fair values of acquired assets and liabilities assumed on the respective date of acquisition: Recognized amounts of identifiable assets acquired and liabilities assumed: Smart NX Assets Cash and cash equivalents 998 Accounts receivable 3,061 Property and equipment 172 Right-of-use asset 107 Brand (*) 1,935 Customer relationships (*) 1,685 Technology software (*) 2,581 Other current assets 5,545 Other non-current assets 1,204 Total—Assets 17,288 Liabilities Accounts payable to suppliers 894 Labor obligations 776 Tax obligations 940 Lease liabilities 118 Loans and financing 40 Deferred tax 2,421 Other current liabilities 28 Provisions 1,184 Total—Liabilities 6,401 Goodwill 15,960 Net assets acquired 26,847
Schedule of Non-Current Liabilities Payable Under the Deferred and Contingent Consideration Arrangements	The Group’s current and non-current liabilities payable under the deferred and contingent consideration arrangements as of December 31, 2023, and 2022 are detailed as follows: Year ended December 31, 2023 2022 Current deferred and contingent consideration: Effecti 106,096 90,456 Leadlovers 44,021 46,937 Ipe 34,770 19,690 Datahub 23,088 20,377 Mercos - - Onclick 19,102 17,512 Smart NX - - Total current deferred and contingent consideration 227,077 194,972 Non-current deferred and contingent consideration: Leadlovers - 17,229 Ipe - 11,612 Datahub - 6,662 Onclick - 4,481 Smart NX 5,000 - Total non-current deferred and contingent consideration 5,000 39,984
Schedule of Deferred and Contingent Consideration Including Level 3 Fair Value Measurements	The following table shows a reconciliation of the beginning and ending balances of the deferred and contingent consideration including level 3 fair value measurements. Balance on January 1, 2021 78,214 Initial recognition of deferred and contingent consideration relating to acquisitions 175,561 Initial recognition of deferred and fixed consideration relating to acquisitions 15,665 Payments (10,500 ) Contingent consideration adjustment 32,365 Balance on December 31, 2021 291,305 Payments (9,898 ) Contingent consideration adjustment 16,294 Derecognition of Mercos deferred and contingent consideration (note 5 and 17) (62,745 ) Balance on December 31, 2022 234,956 Initial recognition of deferred and contingent consideration relating to acquisitions 5,000 Payments (6,215 ) Deferred and contingent consideration converted to equity (39,502 ) Contingent consideration adjustment 13,212 Interest 24,626 Balance on December 31, 2023 232,077

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Schedule of Financial Instruments	The classification of financial instruments is presented in the following table. There are no financial instruments classified in categories other than those reported: Classification Level 12/31/2023 12/31/2022 Financial liabilities: Derivative warrants (note 17) FVTPL Level 1 4,464 - Contingent consideration on acquisitions (note 5) FVTPL Level 3 144,526 116,238 Exposure premium - debentures (note 15) FVTPL Level 3 1,835 841 Subscription rights (note 17) FVTPL Level 3 - 39,343 Deferred consideration on acquisitions (note 5) Amortized cost 87,551 118,718 Loans and financing (note 13) Amortized cost 5,289 1,807 Debentures (note 15) Amortized cost 51,197 60,873 Related parties (note 9) Amortized cost 9,867 4,078
Schedule of Measurement and Reconciliation of Financial Liabilities	Measurement and reconciliation of level 3 financial liabilities Balance at January 1, 2021 78,214 Additions 223,230 Payments (10,500 ) Balance at December 31, 2021 290,944 Additions 35,846 Payments (9,898 ) Derecognition of Mercos deferred and contingent consideration (62,745 ) Transfer of contingent consideration to Amortized Cost (97,725 ) Balance at December 31, 2022 156,422 Additions 29,282 Transfer to equity (converted in shares) (35,410 ) Write off in the P&L (3,933 ) Balance at December 31, 2023 146,361
Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement	During the years ended December 31, 2023, and 2022, the methods, assumptions, and significant unobservable inputs used in the fair value measurement categorized within level 3 of the fair value hierarchy were the following: Valuation technique Significant unobservable input Relationship of inputs to fair value Contingent consideration on acquisitions Income approach- Revenue multiples Weighted average cost of capital, projected future revenues The higher the weighted average cost of capital, the lower the fair value. The higher the revenue projections, the higher the fair value. Exposure premium Income approach- Monte carlo Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value. Subscription rights Income approach- Monte carlo Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value.
Schedule of Liquidity Risk	12/31/2023 Less than 1 to 3 years Total Liabilities Accounts payable to suppliers 47,133 - 47,133 Other liabilities 852 - 852 Loans and financing 4,960 329 5,289 Debentures (i) 51,197 - 51,197 Deferred and contingent consideration 227,077 5,000 232,077 Lease liabilities 742 777 1,519 Related parties 9,867 - 9,867 Total 341,828 6,106 347,934 12/31/2022 Less than 1 to 3 years Total Liabilities Accounts payable to suppliers 7,283 - 7,283 Other liabilities 1,390 2,160 3,550 Loans and financing 841 728 1,569 Debentures (i) 61,161 - 61,161 Deferred and contingent consideration 194,138 46,484 240,622 Subscription rights 31,477 - 31,477 Lease liabilities 976 611 1,587 Related parties - 3,900 3,900 Total 297,266 53,883 351,149 (i) The Company was not in compliance with the related financial covenants under the debentures on December 31, 2023, and 2022, and the amounts owed under the debentures are classified as current. Refer to Note 15 for details relating to these covenants and waiver obtained by the Company. Contractual principal payments are due quarterly beginning in May 2023 with final maturity in May 2026, as follows:
Schedule of Contractual Principal Payments Due with Final Maturity	Contractual principal payments are due quarterly beginning in May 2023 with final maturity in May 2026, as follows: Less than 1 to 3 years 3 to 5 years Total Liabilities Debentures - 51,197 - 51,197
Schedule of Estimating an Increase or Decrease Profit or Loss	Estimating an increase or a decrease of (i) projected forecast, (ii) 25% or (iii) 50% in interest rate, would increase or decrease profit or loss as follows: Scenario I Scenario II Scenario III (Probable) (ii) +/-25% +/-50% Potential net effect on profit or loss 1,264 47 (1,172 ) Exposure Scenario I Scenario II Scenario III Indicators 12/31/2023 Spot rates (i) (Probable) (ii) +/-25% +/-50% Assets 11.77 % 9.34 % 11.68 % 14.01 % Short-term investments—101% of CDI 8,339 (202 ) (7 ) 187 Exposure to CDI—Assets 8,339 (202 ) (7 ) 187 Liability 11.65 % 9.25 % 11.56 % 13.88 % Related parties—100% of CDI (9,867 ) 237 9 (220 ) Debentures—100% of CDI (51,197 ) 1,229 45 (1,139 ) Exposure to CDI—Liabilities (61,064 ) 1,466 54 (1,359 ) Net exposure (52,725 ) 1,264 47 (1,172 ) (i) Based on spot rate, as of the date of this financial statements, as published by the Central Bank of Brazil. (ii) Based on the projected forecast, as of December 31, 2023, as published by the Central Bank of Brazil.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The components of cash and cash equivalents at December 31, 2023, and 2022 are as follows: 12/31/2023 12/31/2022 Cash and cash equivalents 3,059 2,537 Short-term investments 8,339 5,478 Total 11,398 8,015

Trade Accounts Receivable (Tabl

Trade Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Trade Accounts Receivable [Abstract]
Schedule of Trade Accounts Receivable	Trade accounts receivable are amounts due from customers for services performed in the ordinary course of business. 12/31/2023 12/31/2022 Trade accounts receivable 14,852 10,225 Allowance for expected credit losses (589 ) (149 ) Trade accounts receivable, net 14,263 10,076
Schedule of Allowance for Expected Credit Losses	The following table shows the change in allowance for expected credit losses: As of January 1, 2021 - Allowance recorded during the year (117 ) As of December 31, 2021 (117 ) Allowance recorded during the year (32 ) As of December 31, 2022 (149 ) Allowance recorded during the year (538 ) Reversal of provision 98 As of December 31, 2023 (589 )
Schedule of Trade Accounts Receivables by Aging Category	The trade accounts receivables by aging category are distributed as follows: 12/31/2023 12/31/2022 Aging list: Current 11,975 8,844 Due up to 30 days 1,651 747 Due from 30 to 60 days 272 161 Due from 60 to 90 days 365 324 Overdue over 90 days 589 149 Total 14,852 10,225

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2023
Related Parties [Abstract]
Schedule of Loan Balances Outstanding	The loan balances outstanding for the year ended December 31, 2023, and 2022 are as follows: 2023 2022 Related party loan—Pierre Schurmann (i)(ii)(iii) 8,890 3,232 Related party loan—Aury Ronan Francisco (iv) 977 846 Total loans from related parties 9,867 4,078 (i) The 2021 loans were granted in two installments on August 23, 2021, in the amount of R$6,000 and on August 31, 2021, in the amount of R$3,000, both installments payable within 6 months. Interest on the outstanding loan is calculated using a fixed rate of 8% per annum. From January 27, 2022, and March 28, 2022, Nuvini S.A. entered into four additional loan agreements with Schurmann. The first and second loan agreements were entered into on January 27, 2022, in the principal amount of R$500 and R$300 respectively, each carrying an interest rate of 100% of CDI plus 3% per annum. The third loan agreement was entered into on February 1, 2022, with a principal amount of R$1,200, carrying an interest rate equal to 100% of CDI plus 3% per annum. The fourth loan agreement was entered into on March 29, 2022, with a principal amount of R$1,150, carrying an interest rate equal to 100% of CDI plus 3% per annum. On April 28, 2022, Nuvini S.A. and Schurmann entered into a first consolidated amendment applicable to all the Related Party Loan Agreements in order to (i) condition the payment of the Related Party Loan Agreements to the achievement of a gross debt indicator/pro forma EBITDA less or equal to 3.5x for three consecutive semesters by Nuvini S.A., in connection with the Exposure Premium, as per deliberated in a general meeting of the debenture holders; and (ii) equalize the interest rates of all Related Party Loan Agreements in 100% of the CDI plus 8% per annum. In December 2022, all amounts payable under these loans, amounting to R$16,799, were converted into subscription rights with the same terms as those described in note 17. Schurmann holds 81.6% of the Nuvini Holding Limited shares as of December 31, 2022. As of December 31, 2023, after the conversion of Nuvini Holding Limited stock to Nvni Group Limited, Schurmann holds 50.6% of the issued shares. (ii) On December 15, 2022, Nuvini S.A. entered into a loan agreement with Schurmann, in the principal amount of R$3,200 with an interest rate of 10% per annum and 100% of CDI, and with a maturity of 16 months. Pursuant to the terms of this agreement, Schurmann was entitled to a premium in the equivalent of 15% of the principal loan amount. This amount was settled in Nvni Group Limited shares. (iii) Nuvini S.A. entered into two loan agreements with Schurmann during 2023. The first agreement entered into on February 13, 2023, in the principal amount of R$3,300 with interest of 10 % per year and 100% of CDI, and with a maturity of 12 months. The second agreement entered into on July 3, 2023, in the principal amount of R$1,039 interest equivalent to 23.25% per year, and term date of October 25, 2023. (iv) This loan was received on September 3, 2021, from Aury Ronan Francisco, former CFO, in the amount of R$3,700. On September 29, 2021, the Group paid R$3,000 of the principal amount, with the remaining R$700 outstanding and payable within 6 months. Interest on the outstanding loan is calculated using a fixed rate of 3% per annum. As of December 31, 2023, and 2022, the remaining balance of the loan remains outstanding and accruing interest. Per the terms of the agreement, once the balance is paid, the Company will also include a penalty of 2% of the total value of the loan. On May 20, 2022, and December 15, 2022, respectively, Nuvini S.A. entered into two loan agreements with Accipiens Consultoria e Participações EIRELI, an entity owned and operated by Luiz Busnello, COO, in the amount of R$1,500 and R$1,100, respectively, with no interest rate attached. The right to repayment of the R$2,600 loan balance was assigned to Schurmann on November 30, 2022, who paid Luiz Busnello in cash in exchange for the right to be repaid under the loan, pursuant to the terms of the “ Instrumento Particular de Cessão de Crédito
Schedule of Key Management Compensation	Key management compensation for the years ended December 31, 2023, 2022 and 2021 is summarized as follows: 2023 2022 2021 Short-term compensation (including salary) 434 573 2,938 Short-term employee benefits 72 76 48 Post-employment benefits - - 7 Termination benefits 62 - 274 Share-based compensation 16,685 9,007 1,957 Total 17,253 9,656 5,224

Property and Equipment, Net a_2

Property and Equipment, Net and Right-of-Use Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property and Equipment, Net and Right-of-Use Assets, Net [Abstract]
Schedule of Right-of-Use Asset and Lease Liabilities	The balances of the fixed and right-of-use assets are presented as follows: December 31, 2023 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 108 556 2,871 272 (50 ) 47 204 3,143 7,151 Additions - 384 2,918 24 - - 179 768 4,273 Acquisitions - 12 225 - - - - 108 345 Disposals - (143 ) (2,188 ) (67 ) 50 - (63 ) (829 ) (3,240 ) At December 31 108 809 3,826 229 - 47 320 3,190 8,529 Accumulated depreciation: At January 1 (8 ) (151 ) (803 ) (54 ) 50 - (110 ) (1,702 ) (2,778 ) Depreciation expense (11 ) (88 ) (832 ) (21 ) - - (98 ) (862 ) (1,912 ) Acquisitions - (2 ) (63 ) - - - - (65 ) Disposals - - 803 18 (50 ) - 71 809 1,651 At December 31 (19 ) (241 ) (895 ) (57 ) - - (137 ) (1,755 ) (3,104 ) Net amount 89 568 2,931 172 - 47 183 1,435 5,425 Depreciation period (in years) 3 10 5 10 10 December 31, 2022 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 50 548 1,849 272 (50 ) 62 127 3,030 5,888 Additions 58 12 1,131 - - 52 77 113 1,443 Disposals - (4 ) (109 ) - - (67 ) - - (180 ) At December 31 108 556 2,871 272 (50 ) 47 204 3,143 7,151 Accumulated depreciation: At January 1 - (58 ) (342 ) (31 ) 44 - (73 ) (573 ) (1,033 ) Depreciation expense (8 ) (94 ) (519 ) (23 ) - - (37 ) (1,129 ) (1,810 ) Disposals - 1 58 - 6 - - - 65 At December 31 (8 ) (151 ) (803 ) (54 ) 50 - (110 ) (1,702 ) (2,778 ) Net amount 100 405 2,068 218 - 47 94 1,441 4,373 December 31, 2021 Machinery Furniture Computers Facilities Vehicles Work in Leasehold Right-of-Use Total Cost: At January 1 - 71 186 23 - - - - 280 Additions 50 149 731 25 - 67 64 1,972 3,058 Acquisitions (noted 5) - 450 959 224 39 63 1,058 2,793 Disposals - (122 ) (27 ) - (89 ) (5 ) - - (243 ) At December 31 50 548 1,849 272 (50 ) 62 127 3,030 5,888 Accumulated depreciation: At January 1 - (12 ) (53 ) (5 ) - - - - (70 ) Depreciation expense - (93 ) (290 ) (26 ) (16 ) - (73 ) (573 ) (1,071 ) Disposals - 47 1 - 60 - - - 108 At December 31 - (58 ) (342 ) (31 ) 44 - (73 ) (573 ) (1,033 ) Net amount 50 490 1,507 241 (6 ) 62 54 2,457 4,855
Schedule of Right-of-Use Asset and Lease Liabilities	The following tables show the changes in the right-of-use asset and lease liabilities: Right-of-use asset: Balance as of January 1, 2021 - Acquisitions from business combinations 1,058 Additions 1,972 Amortization (573 ) Balance as of December 31, 2021 2,457 Additions 113 Amortization (1,129 ) Balance as of December 31, 2022 1,441 Additions 876 Amortization (862 ) Disposals (20 ) Balance as of December 31, 2023 1,435 Lease liabilities: Balance as of January 1, 2021 - Acquisitions 1,058 Additions 1,972 Interest accrued 103 Consideration paid (596 ) Balance as of December 31, 2021 2,537 Interest accrued 175 Consideration paid (1,238 ) Remeasurement 113 Balance as of December 31, 2022 1,587 Interest accrued 316 Additions 1,341 Consideration paid (1,053 ) Cancellations (710 ) Remeasurement 38 Balance as of December 31, 2023 1,519
Schedule of Future Contractual Lease Payments	The following provides information regarding the timing of future contractual lease payments at December 31, 2023, and 2022: 2023 2022 Amounts payable under leases: Up to 1 year 912 1,174 From 2 to 3 years 894 535 Less: Interest to be appropriated (287 ) (122 ) Present value of lease liabilities 1,519 1,587

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Assets, Net [Abstract]
Schedule of Goodwill and Intangible Assets	The changes in the carrying amount of goodwill and intangible assets for the years ended December 31, 2023, 2022 and 2021 were as follows: December 31, 2023 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2023 49,165 78,321 33,889 5,957 199,512 366,844 Additions by acquisition 2,581 1,935 1,685 - 15,960 22,161 Additions by internal development 8,648 - - - - 8,648 Impairment of goodwill - - - - (11,373 ) (11,373 ) Balance as of December 31, 2023 60,394 80,256 35,574 5,957 204,099 386,280 Accumulated Amortization: Balance as of January 1, 2023 (14,203 ) (5,847 ) (6,048 ) (2,283 ) (28,381 ) Amortization for the period (8,440 ) (3,294 ) (3,796 ) (1,209 ) - (16,739 ) Balance as of December 31, 2023 (22,643 ) (9,141 ) (9,844 ) (3,492 ) - (45,120 ) Intangible assets, net as of December 31, 2023 37,751 71,115 25,730 2,465 204,099 341,160 Amortization period (in years) 5-10 22-25 3-17 5-6 Indefinite December 31, 2022 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2022 46,173 78,321 33,889 5,957 286,409 450,749 Additions by internal development 2,992 - - - - 2,992 Impairment - - - - (86,897 ) (86,897 ) Balance as of December 31, 2022 49,165 78,321 33,889 5,957 199,512 366,844 Accumulated Amortization: Balance as of January 1, 2022 (6,435 ) (2,652 ) (2,796 ) (1,074 ) - (12,957 ) Amortization for the period (7,768 ) (3,195 ) (3,252 ) (1,209 ) - (15,424 ) Balance as of December 31, 2022 (14,203 ) (5,847 ) (6,048 ) (2,283 ) - (28,381 ) Intangible assets, net as of December 31, 2022 34,962 72,474 27,841 3,674 199,512 338,463 December 31, 2021 Technology Brands Customer Non-competition Goodwill Total Cost: Balance as of January 1, 2021 6,425 17,592 9,713 2,085 55,380 91,195 Additions 40 7 - - - 47 Additions by internal development 2,676 - - - - 2,676 Acquisitions 37,032 60,722 24,176 3,872 237,787 363,589 Impairment of goodwill - - - - (6,758 ) (6,758 ) Balance as of December 31, 2021 46,173 78,321 33,889 5,957 286,409 450,749 Accumulated Amortization: Balance as of January 1, 2021 (216 ) (117 ) (60 ) (57 ) - (450 ) Amortization for the period (6,219 ) (2,535 ) (2,736 ) (1,017 ) - (12,507 ) Balance as of December 31, 2021 (6,435 ) (2,652 ) (2,796 ) (1,074 ) - (12,957 ) Intangible assets, net as of December 31, 2021 39,738 75,669 31,093 4,883 286,409 437,792

Salaries and Labor Charges (Tab

Salaries and Labor Charges (Tables)	12 Months Ended
	Dec. 31, 2023
Salaries and Labor Charges [Abstract]
Schedule of Composition of Salaries and Labor Charges	The composition of salaries and labor charges at December 31, 2023, 2022 2021 were as follows: 2023 2022 2021 Wages payable 5,672 6,514 2,816 Accrued labor benefits 7,186 4,698 3,857 Labor taxes 3,816 3,803 2,220 Total salaries and labor charges 16,674 15,015 8,893

Loans and Financing (Tables)

Loans and Financing (Tables)	12 Months Ended
	Dec. 31, 2023
Loans and financing [Abstract]
Schedule of Outstanding Balance of Loans and Financing	The outstanding balance of loans and financing at December 31, 2023, and 2022 are summarized as follows: Years ended December 31, Interest Rate Maturity 2023 2022 Loans: CEF 23.36% per annum 2023 - 78 Itaú Bank 1.10% per month 2023 - 277 Santander Bank 0.06% per day 2024 4,254 - Bradesco Bank 12.15% per annum 2024 343 355 BNDES 12.27% per annum 2024 692 1,087 Total 5,289 1,797 Financing: BNDES - Equipment 1.14% per month 2023 - 2 BNDES - Equipment 1.14% per month 2023 - 8 Total - 10 Current 4,960 1,138 Non-current 329 669
Schedule of Non-Current Liabilities	The amounts recorded in non-current liabilities for the years ended December 31, 2023, and 2022 have the following maturity schedule: Years ended December 31, 2023 2022 2024 - 669 2025 311 - 2026 18 - Non-current liabilities 329 669
Schedule of Loan Activity	The following is a summary of loan activity for the years ended December 31, 2023, 2022 and 2021: Balances as of January 1, 2021 - Additions 15,000 Additions by acquisition of companies 3,994 Interest accrual 511 Principal payments (10,962 ) Interest payments (243 ) Balance as of December 31, 2021 8,300 Additions 4,000 Interest accrual 349 Principal payments (10,101 ) Interest payments (741 ) Balance as of December 31, 2022 1,807 Additions 5,462 Interest accrual 940 Principal payments (2,034 ) Interest payments (886 ) Balance as of December 31, 2023 5,289
Schedule of Trade and Other Payables	The breakdown of Trade and other payables is as follows: 12/31/2023 12/31/2022 Suppliers- National and foreign 7,676 7,283 Suppliers - IPO transaction expenses (i) 39,457 - Trade accounts payable 47,133 7,283 (i) Consists of concentrated expenses incurred in 2023 related to third-party advisory and support services incurred in connection with the reorganization transaction that are not expected to be ongoing. These services were provided by suppliers to the Company. The liability includes the prepaid D&O insurance totaling R$4,078, recognized during the fiscal year ended December 31, 2023.

Loans From Investors (Tables)

Loans From Investors (Tables)	12 Months Ended
	Dec. 31, 2023
Loans from Investors [Abstract]
Summary of Investor Loan Activity	The following is a summary of investor loan activity for the year ended December 31, 2023, and 2022: As of January 1, 2022 - Transfer from loans and financing 320 Additions 4,750 Interest accrual 179 As of December 31, 2022 5,249 Additions 7,407 Amortization (320 ) Interest accrual 1,564 As of December 31, 2023 13,901

Debentures (Tables)

Debentures (Tables)	12 Months Ended
	Dec. 31, 2023
Debentures [Abstract]
Schedule of Activity Related to the Debentures	The following is a summary of activity related to the debentures for the years ended December 31, 2023, 2022 and 2021: As of January 1, 2021 - Issuance of debentures 61,000 Transaction costs (2,264 ) Interest incurred 5,051 Interest payments (3,303 ) As of December 31, 2021 60,484 Interest incurred 12,074 Interest payments (11,685 ) As of December 31, 2022 60,873 Interest incurred 11,639 Principal payments (7,417 ) Interest payments (13,898 ) As of December 31, 2023 51,197
Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According	The Exposure Premium fair value considers a cap for the liquidity event or early redemption according to the following criteria: Liquidity Event Date or Early Redemption Date Cap Applied to Total Debentures Outstanding (%) From May 14, 2021 (inclusive) to May 14, 2022 (exclusive) 35.00 % From May 14, 2022 (inclusive) to May 14, 2023 (exclusive) 40.00 % From May 14, 2023 (inclusive) to May 14, 2024 (exclusive) 45.00 % From May 14, 2024 (inclusive) to May 14, 2031 50.00 %

Provision for Risks (Tables)

Provision for Risks (Tables)	12 Months Ended
	Dec. 31, 2023
Provision for Risks [Abstract]
Schedule of Provision Activity	The provision activity for the years ended December 31, 2023, and 2022, is as follows: At January 1, 2021 673 Provisions acquired in business combination (note 5) 22,651 Provision recorded during the period 9,262 Provision paid during the period - At December 31, 2021 32,586 Reversal of provision (5,307 ) Provision recorded during the period 3,753 Provision paid during the period - At December 31, 2022 31,032 Reversal of provision (3,292 ) Provision recorded during the period 1,777 Additions by acquisition 1,184 Additions by merger 119 At December 31, 2023 30,820
Schedule of Number of Claims, Assessments and Legal Proceedings	The Group is party to a number of claims, assessments and legal proceedings in the normal course of business. At December 31, 2023, and 2022, the total of such contingent obligations, for which the likelihood of loss was determined as possible by management and for which no provision has been recorded, is as follows: 2023 2022 Civil 727 92 Tax 4,934 4,758 Total 5,661 4,850

Equity and Divestitures (Tables

Equity and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2023
Equity and Divestitures [Abstract]
Schedule of Illustrates the Shareholders’ Equity	The following table illustrates the shareholders’ equity of the Company after being retrospectively adjusted by the share split in line with capital restructuring of the Group in conjunction with the SPAC merger: Shares Issued as of January 1, 2021 13,769,811 Shares issued 3,840,639 As of December 31, 2021 17,610,450 As of January 1, 2022 17,610,450 Shares issued (i) 208,219 As of December 31, 2022 17,818,669 As of January 1, 2023 17,818,669 Shares issued (ii) 2,313,622 Subtotal 20,132,291 Acquisition of Nvni Group Limited (**) 11,485,080 As of December 31, 2023 31,617,370 (i) Shares were issued in December 2022 in connection with the exercise of subscription rights as detailed below. On December 22, 2022, the Company entered into a contribution agreement with Nuvini Holdings Limited, an exempted company incorporated with limited liability in the Cayman Islands that is the parent company of Nuvini S.A, that effective upon the agreement, the Company transferred 100% of Nuvini shareholders’ equity from Nuvini shares to Nuvini Holdings Limited shares. (ii) The shares issued pertain to the premium on loans, subscription right payments, earn out payments and stock option exercised by the board made in 2023, prior to the conversion into Nvni Group Limited shares. * In connection with the SPAC merger, each of the Nuvini shareholders contributed their ordinary shares into the Company in exchange for Nvni Group Limited ordinary shares. The shares were converted into a number of Nvni Group Limited ordinary shares in accordance with the Exchange Ratio of 0.145485724. ** The acquisition of Nvni Group Limited Ordinary Shares includes the conversion of 3,884,372 Nvni Group Limited rollover options, earn-out shares and equity plan, 4,300,363 Mercato Public Shares, 5,570,000 Mercato Class B Shares, 475,000 Maxim shares, and 1,280,000 PIPE investor shares. For details on participation percentages, please refer to the distribution to shareholders’ capital table.
Schedule of Adjusted Stock Split in Line with Capital	The distribution of shareholders’ capital as of December 31, 2022, reflective of the retrospectively adjusted stock split in line with capital restructuring, is as follows: Shareholders % Common Subscribed and Paid- Nuvini Holdings Limited 100 % 17,818,669 40,404 Shareholders % Common Shares Subscribed and Paid- Former Nuvini Stockholders (Nuvini Holdings Limited) 75.96 % 24,016,662 Public Stockholders .30 % 95,708 Mercato Founders 18.19 % 5,750,000 Maxim 1.50 % 475,000 PIPE Investors 4.05 % 1,280,000 Total 100 % 31,617,370 260,685
Schedule of Recognized the Following Warrant Obligations	The Group has recognized the following warrant obligations: Public Private Total Initial Recognition at September 29, 2023 9,887 9,930 19,817 Change in fair value (7,660 ) (7,693 ) (15,353 ) Balance at December 31, 2023 2,227 2,237 4,464
Schedule of Company’s Non-Controlling Interests	The following tables summarize the information relating to the Company’s non-controlling interests in Mercos before and after intercompany eliminations: Summarized statement of financial position 2023 2022 Non-controlling interest 42.09 % 42.09 % Current assets 4,351 3,463 Non-current assets 4,668 3,796 Current liabilities (3,421 ) (2,849 ) Non-current liabilities (5,598 ) - Summarized statement of profit and loss Revenue 18,498 14,774 Expenses (14,139 ) (12,045 ) Profit (loss) for the year 4,359 2,729 Profit (loss) attributable to owners of the Company 2,525 2,527 Profit (loss) attributable to the non-controlling interests 1,835 202 Summarized statement of financial position 2023 Non-controlling interest 45.00 % Current assets 2,396 Non-current assets 5,131 Current liabilities (1,680 ) Non-current liabilities (5,847 ) Summarized statement of profit and loss Revenue 12,209 Expenses (9,719 ) Profit (loss) for the year 2,490 Profit (loss) attributable to owners of the Company 1,370 Profit (loss) attributable to the non-controlling interests 1,121
Schedule of Summarized Statement of Financial Position	Summarized statement of financial position 2023 At January 1, 2022 - Non-controlling interest arising on disposal of interest on Mercos 4,207 Share of profit for the year 202 Payment of dividends (556 ) At December 31, 2022 3,853 Share of profit for the year 4,359 Payment of dividends (5,173 ) At December 31, 2023 3,039 At January 1, 2023 - Initial recognition 706 Share of profit for the year 2,490 Payment of dividends (1,906 ) At December 31, 2023 1,290

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Net Loss Per Share [Abstract]
Schedule of Net Loss Per Share Attributable to the Ordinary Equity Holders	The table below shows data of net loss and shares used in calculating basic and diluted loss per share attributable to the ordinary equity holders of the Company: Years ended December 31, 2023 2022 2021 Net loss (247,862 ) (114,206 ) (77,699 ) Weighted average shares outstanding—basic and diluted (i) 23,090,092 17,623,570 15,986,834 Net loss per ordinary share—basic and diluted (10.73 ) (6.48 ) (4.86 ) (i) Share data have been revised to give effect due to the recapitalization of Nvni Group Limited as explained in Note 17. Equity and divestitures.

Share-Based Compensation Plan (

Share-Based Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Plan [Abstract]
Schedule of grant for Each Option Using the Black- Scholes Option	The fair value of each share option award was estimated at the time of grant for each option using the Black- Scholes option pricing model. The key assumptions used for options granted during the years ended December 31, 2023, 2022 and 2021, were as follows: 2023 2022 2021 Exercise price R$2.32 R$2.32 R$0.50 - R$2.32 Fair value of common share R$2.70 - R$3.26 R$2.70 - R$3.26 R$0.50 - R$2.32 Volatility 54.9% - 58.4% 54.9% - 58.4% 52.2% - 55.3% Risk-free interest rate 10.63% - 12.52% 10.63% - 12.52% 6.58% - 11.45% Dividend yield 0% 0% 0% Expected option life 5 - 7 years 5 - 7 years 4.9 - 7 years
Schedule of Number and Weighted Average Exercise Price of Share Options	The number and weighted average exercise price of share options were as follows: 2023 2022 2021 Weighted Number of Weighted Number of Weighted Number of Outstanding at January 1 1.91 13,401,980 1.07 14,114,763 0.50 11,000,0000 Granted during the year 2.32 - 2.32 10,401,980 1.98 5,420,319 Forfeited/canceled during the year 2.32 - 1.22 (11,114,763 ) 0.50 (2,305,556 ) Conversion of stock option subject to conversion ratio (i) 1,949,796 Outstanding at December 31 2.32 1,949,796 1.91 13,401,980 1.07 14,114,763 Exercisable at the end of the year 2.32 1,631,370 0.50 2,250,000 0.50 5,380,556

Net Operating Revenue (Tables)

Net Operating Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Net Operating Revenue [Abstract]
Schedule of Net Operating Revenue	Below is a summary of net operating revenue for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Gross operating revenue 181,725 135,643 98,433 Revenue deductions: Cancellations and returns (1,353 ) (1,822 ) (1,357 ) Taxes on services (11,387 ) (9,276 ) (7,212 ) Total revenue deductions (12,740 ) (11,098 ) (8,569 ) Net operating revenue 168,985 124,545 89,864
Schedule of Disaggregation of Net Operating Revenue	Disaggregation of net operating revenue for the years ended December 31, 2023, 2022 and 2021 is as follows: 2023 2022 2021 Platform subscription service 158,678 114,556 78,547 Cancellations, returns and taxes on services (10,692 ) (9,004 ) (6,780 ) Revenue from platform subscription service 147,986 105,552 71,767 Data analytics service 13,422 15,644 14,457 Cancellations, returns and taxes on services (1,478 ) (1,760 ) (1,491 ) Revenue from data analytics service 11,944 13,884 12,966 Set-up and service 8,661 4,733 4,613 Cancellations, returns and taxes on services (514 ) (307 ) (257 ) Revenue from set-up and service 8,147 4,426 4,356 Other revenue 963 710 816 Cancellations, returns and taxes on services (55 ) (27 ) (41 ) Other revenue 908 683 775 Total net operating revenue 168,985 124,545 89,864
Schedule of Contract Asset Activity	The contract asset activity as of December 31, 2023, 2022 and 2021, is as follows: At January 1, 2021 - Increase from business acquisitions 3,296 Decrease from transfers to accounts receivable (877 ) Increase from changes based on work in progress 638 At December 31, 2021 3,057 Decrease from transfers to accounts receivable (3,057 ) Increase from changes based on work in progress 2,272 At December 31, 2022 2,272 Decrease from transfers to accounts receivable (2,272 ) Increase from changes based on work in progress 4,862 At December 31, 2023 4,862
Schedule of Deferred Revenue Activity	The deferred revenue activity as of December 31, 2023, 2022 and 2021, is as follows: At January 1, 2021 38 Increase from business acquisitions 5,512 Increase in deferred revenue in the current year 9,658 Revenue recognized during the current year (10,840 ) At December 31, 2021 4,368 Increase in deferred revenue in the current year 9,566 Revenue recognized during the current year (10,113 ) At December 31, 2022 3,821 Increase in deferred revenue in the current year 9,845 Revenue recognized during the current year (10,521 ) At December 31, 2023 3,145

Cost and Expenses by Nature (Ta

Cost and Expenses by Nature (Tables)	12 Months Ended
	Dec. 31, 2023
Cost and Expenses by Nature [Abstract]
Schedule of Operating Costs and Expenses by Nature	The operating costs and expenses by nature for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Payroll (90,182 ) (83,042 ) (57,026 ) Third-party services and others (24,106 ) (22,383 ) (19,781 ) Business and marketing expenses (7,484 ) (6,441 ) (8,098 ) Depreciation (1,050 ) (1,810 ) (1,071 ) Amortization (17,600 ) (15,424 ) (12,507 ) Impairment of goodwill (11,373 ) (86,897 ) (6,758 ) Audit and consulting (38,660 ) (4,430 ) (5,574 ) Other administrative expenses (7,464 ) (1,771 ) (1,758 ) Provisions 1,515 1,953 (8,676 ) Fair value of derivative warrant liabilities 14,507 - - Listing Expense (i) (176,282 ) - - Total (358,179 ) (220,245 ) (121,249 ) Cost of services provided (66,138 ) (52,813 ) (35,833 ) Sales and marketing expenses (28,827 ) (27,370 ) (22,597 ) General and administrative expenses (93,156 ) (53,339 ) (56,019 ) Listing expense (176,282 ) - Research and development expenses - (8 ) (54 ) Impairment of goodwill (11,373 ) (86,897 ) (6,758 ) Other operating income (expenses), net 17,597 182 12 Total (358,179 ) (220,245 ) (121,249 ) (i) Listing Expense The SPAC merger was accounted for as a capital reorganization with Nvni Group Limited determined to be the accounting acquirer of Mercato. Mercato does not meet the definition of a “business” pursuant to IFRS 3 Business Combinations, and therefore the Business Combination is expected to be considered a capital transaction and shall be accounted for as a share-based payment transaction under IFRS 2 Share-Based Payments, whereby Nvni Group Limited will issue shares for Mercato’s net assets. Under this method of accounting, the acquisition of Mercato will be stated at historical cost, with no goodwill or other intangible assets recorded. Accordingly, the Group recorded a one-time non-cash expense of R$(176,282). In accordance with IFRS 2, the expense represents the cost incurred in connection with achieving a listing on the Nasdaq Global Market (the “Listing Expense”). The expense is calculated as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired, as noted below:
Schedule of Fair Value of the Identifiable Net Assets Acquired	The expense is calculated as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired, as noted below: (in thousands of R$) Fair value of equity instruments issued to acquire Mercato 275,555 Net assets of Mercato as of June 30, 2023 162,862 Less: Mercato’s transaction costs (63,589 ) Adjusted net assets/(liabilities) of Mercato as of June 30, 2023 99,273 IFRS 2 charge for listing services (176,282 )

Financial Income and Expense,_2

Financial Income and Expense, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Income and Expense, Net [Abstract]
Schedule of Financial Income and Expense, Net	The financial income and expense, net for the years ended December 31, 2023, 2022 and 2021 is composed of the following: 2023 2022 2021 Financial income: Income on financial investments (i) 328 209 356 Interest income 799 638 211 Discounts obtained 15 42 11 Mercos deferred and contingent consideration adjustment - 16,029 - Subscription rights fair value adjustment 3,933 - - Exchange variation (foreign exchange profit) 2,096 - - Total 7,171 16,918 578 Financial Expenses: Contingent consideration fair value adjustments (40,535 ) (16,294 ) (32,365 ) Interest on loans, financing and debentures (12,985 ) (12,425 ) (5,513 ) Subscription rights fair value adjustment - (1,334 ) (2,619 ) Other interest and expense (6,579 ) (3,388 ) (1,747 ) Exchange variation (foreign exchange losses) (95 ) (111 ) (68 ) Exposure premium expense (2,087 ) (96 ) (745 ) Total (62,281 ) (33,648 ) (43,057 ) Financial income and expense, net (55,110 ) (16,730 ) (42,479 ) (i) The increase in the fair value adjustment of contingent consideration as of December 31, 2023, is due to the remeasurement of the contingent consideration, driven by higher revenue and interest recorded in 2023 compared to 2022.

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
Schedule of Income Tax recorded in Income	The income tax recorded in income for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 Loss before income tax (244,304 ) (112,430 ) (73,864 ) Income tax credit at the combined rate of 34% 83,063 38,226 25,114 Adjustments for the demonstration of the effective rate: Non-deductible expenses 385 (34 ) (112 ) Presumed income tax calculation effect (i) - (200 ) (4,230 ) Unrecognized tax loss carryforwards and temporary differences (ii) (97,273 ) (44,790 ) (28,745 ) Deferred tax liability expenses from identifiable assets acquired of businesses 5,072 5,635 3,956 Research and development tax benefit 3,247 - Other 1,948 (613 ) 182 Income tax recorded in the income for the year (3,558 ) (1,776 ) (3,835 ) Current tax (9,751 ) (5,769 ) (7,791 ) Deferred tax 6,193 3,993 3,956 Effective tax rate 1.46 % 1.58 % 5.19 % (i) As described in note 3, the taxation under Brazilian Tax Law allows certain companies to calculate income taxes as a percentage of gross revenue, using the presumed income tax regime. The effect of the presumed income tax of certain subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the regular income tax rate applied to the taxable profit of the subsidiaries. (ii) The Company has not recorded a deferred tax asset on tax loss carryforwards and temporary differences as the Company does not expect to realize these tax benefits in the foreseeable future. Tax losses may be carried forward indefinitely, though the amount of the carryforward that can be utilized is limited to 30% of taxable income in each carryforward year. As of December 31, 2023, 2022 and 2021, the Group had total tax losses of R$124,730, R$78,573 and R$30,397, respectively.

Supplementary Items to the Ca_2

Supplementary Items to the Cash Flow (Tables)	12 Months Ended
	Dec. 31, 2023
Supplementary Items to the Cash Flow [Abstract]
Schedule of Non-Cash Transactions	In the years ended December 31, 2023, 2022 and 2021, the Group recorded the following non-cash transactions: Note 2023 2022 2021 Business combination: Trade accounts receivable, net 6 and 9 - - 7,809 Other assets 6 - - 1,735 Property and equipment, net 6 and 11 - - 1,735 Right-of-use assets 6 and 11 - - 1,058 Intangible assets 6 and 12 - - 125,802 Goodwill 6 and 12 - - 237,787 Accounts payable to suppliers 6 - - (7,808 ) Labor charges 6 - - (4,127 ) Loans and financing 6 and 14 - - (3,994 ) Right-of-use lease liabilities 6 and 11 - - (1,058 ) Taxes and fees 23 - - (3,253 ) Deferred taxes - - (40,730 ) Deferred and contingent consideration - - (282,205 ) Other liabilities - - (10,100 ) Provisions for risks 6 and 17 - - (22,651 ) Recognition of lease right-of-use asset in exchange for lease liabilities: Right-of-use assets, net 11 - - 1,972 Lease liability 11 - - (1,972 ) Capitalization of related party loans: Related party - - 3,201 Share capital - - (3,201 ) Capital reduction through the payment of subscription rights: Capital reserve 17 - - 1,500 Related party 17 - - (1,500 ) Creation of non-controlling interest at Mercos: Deferred and contingent consideration - 46,717 - Capital reserve 17 - (42,510 ) - Non-controlling interest 17 - (4,207 ) - Conversion of subscription rights to capital shares: Capital reserve - (1,500 ) - Share capital - 1,500 - Recognition of lease right-of-use asset in exchange for lease liabilities: Right-of-use assets, net 10 768 - - Lease liability 10 (768 ) - - Business Combination – Smart NX Cash and cash equivalents 998 - - Trade accounts receivable, net 3,061 - - Other current assets 5,545 - - Other non-current assets 1,204 - - Property and equipment, net 172 - - Right-of-use assets, net 107 - - Intangible Assets 6,201 - - Goodwill 15,960 - - Accounts payable to suppliers (894 ) - - Salaries and labor charges (776 ) - - Loans and financing (40 ) - - Lease liability (118 ) - - Taxes, fees and contributions payable (940 ) - - Other current liabilities (1,211 ) - - Deferred and contingent consideration on acquisitions (26,848 ) - - Deferred taxes (2,421 ) - - Capital increase through the payment of subscription rights: Capital reserves 2,000 - - Share capital 33,910 Subscription rights (35,410 ) - - Loans from investors (300 ) Loan premium 14 (200 ) - - Conversion of deferred and contingent consideration to capital shares: - - Deferred and contingent consideration 5 and 6 (64,255 ) - - Capital reserve 5 and 6 64,255 - -

Correction of Immaterial Erro_2

Correction of Immaterial Errors (Tables)	12 Months Ended
	Dec. 31, 2023
Correction of Immaterial Errors [Abstract]
Schedule of Cash Flow Statement	Consolidated Statement of Cash Flows: For the year ended December 31, 2023 As previously reported Adjustments As adjusted Loss before income tax (247,862 ) 3,558 (244,304 ) Taxes on provisions (12,389 ) 12,389 - Taxes and fees (767 ) 3,301 2,534 Income taxes paid 9,624 (19,248 ) (9,624 )

Corporate and Business Inform_3

Corporate and Business Information (Details) - $ / shares	Aug. 01, 2023	Jun. 08, 2023	Feb. 26, 2023	Jan. 25, 2023	Nov. 30, 2022	Jun. 30, 2021	Apr. 22, 2021	Feb. 24, 2021	Feb. 19, 2021	Feb. 05, 2021	Oct. 30, 2020
Corporate and Business Information [Line Items]
Par value per share (in Dollars per share)			$ 0.00001
Acquired of the equity interest					42.09%		100%			100%
Effecti Tecnologia Web LTDA [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest											100%
Leadlovers Tecnologia LTDA [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest										100%
Ipe Tecnologia LTDA [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest									100%
Datahub [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest								100%
Onclick Sistemas de Informacao LTDA [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest							100%
Mercos [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest						100%
Smart NX [Member]
Corporate and Business Information [Line Items]
Acquired of the equity interest	55%	55%		55%

Corporate and Business Inform_4

Corporate and Business Information - Schedule of Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effecti Tecnologia Web LTDA. (“Effecti”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%	100%
Leadlovers Tecnologia LTDA. (“Leadlovers”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%	100%
Ipe Tecnologia LTDA. (“Ipe”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%	100%
Dataminer Dados, Informacoes E Documentos LTDA (“Datahub”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%	100%
Onclick Sistemas de Informacao LTDA. (“Onclick”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%	100%
Simplest Software LTDA (“Mercos”) [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	57.91%	57.91%
Smart NX [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	55%
Nuvini S.A [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	Brazil
Equity Ownership Held by the Company	100%
Nuvini LLC [Member]
Schedule of Subsidiaries [Line Items]
Place of Business/Country of Incorporation	United States of America
Equity Ownership Held by the Company	100%	100%

Basis of Presentation (Details)

Basis of Presentation (Details) - BRL (R$) R$ in Thousands		12 Months Ended
	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 31, 2023	Feb. 28, 2023	Sep. 03, 2021	Dec. 31, 2020
Basis of presentation [Line Items]
Capital stock percentage	100%
Net liabilities		R$ 109869
Net loss		(247,862)	R$ 114206	R$ 77699
Working capital deficit		(308,579)	(311,821)
Shareholders’ deficit		(53,629)	(94,961)	(36,800)				R$ 3233
Current debt obligations outstanding		66,024	62,857
Cash and cash equivalents		11,398	8,015	R$ 10901				R$ 1648
Loans			16,799				R$ 3700
Additional loan received from CEO			R$ 3200
Additional loan					R$ 1039	R$ 3300
Outstanding loans		8,890
Loans from investor		R$ 7407

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Percentage of taxable income rate	15%
Percentage of additional profits	10%
Profits exceed amount (in Brazil Real)	R$ 240
Percentage of additional social contribution taxed rate	9%
Gross revenue (in Brazil Real)	R$ 78000	R$ 78000
Percentage of tax rate of revenue	11.50%
Bottom of range [member]
Summary of Significant Accounting Policies [Line Items]
Percentage of profit margin		8%
Top of range [member]
Summary of Significant Accounting Policies [Line Items]
Percentage of profit margin		32%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Finite Useful Lives and the Average Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
Technology software [Member] | Bottom of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	5 years
Technology software [Member] | Top of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	10 years
Brands [Member] | Bottom of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	22 years
Brands [Member] | Top of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	25 years
Customer Relationships [Member] | Bottom of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	3 years
Customer Relationships [Member] | Top of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	17 years
Non-competition agreements [Member] | Bottom of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	5 years
Non-competition agreements [Member] | Top of range [member]
Schedule of Finite Useful Lives and the Average Useful Lives [Line Items]
Useful life	6 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Average Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
Machinery and equipment [Member]
Schedule of Average Useful Lives [Line Items]
Average useful lives	3 years
Furniture [Member]
Schedule of Average Useful Lives [Line Items]
Average useful lives	10 years
Computer and peripherals [Member]
Schedule of Average Useful Lives [Line Items]
Average useful lives	5 years
Facilities [Member]
Schedule of Average Useful Lives [Line Items]
Average useful lives	10 years
Vehicles [Member]
Schedule of Average Useful Lives [Line Items]
Average useful lives	10 years

Adoption of New and Revised A_3

Adoption of New and Revised Accounting Standards - Schedule of Financial Statements in Future Periods (Details)	12 Months Ended
	Dec. 25, 2008
Amendment to IAS 7 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Supplier Finance Arrangements - Statement of cash flows – Financial instruments
Amendment to IFRS 16 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Lease Liability in a Sale and Leaseback
Amendment IAS 1 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Classification of Liabilities as Current or Non-Current
Amendment IAS 21 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Lack of Exchangeability -The effects of changes in exchange rates
Amendments to IAS 12 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Income Taxes—Deferred Tax Related to Assets and Liabilities related to Pillar Two rules
IAS 10 and IAS 28 [Member]
Schedule of Financial Statements in Future Periods [Line Items]
Financial statements in future periods	Investments in Associates and Joint Ventures -Investments in associates and enterprises in set: Alignment of the wording of the aforementioned standards

Business Combinations (Details)

Business Combinations (Details) - BRL (R$) R$ in Thousands	Oct. 08, 2023	Jan. 25, 2023	Dec. 31, 2024	Dec. 31, 2023	Oct. 05, 2023	Nov. 30, 2022	Nov. 11, 2022	Apr. 22, 2021	Feb. 05, 2021
Business Combinations [Line Items]
Acquisition percentage						42.09%		100%	100%
Percentage of contingent consideration payment							42.09%
Cash				R$ 7813
Installment One [Member]
Business Combinations [Line Items]
Installment date		Jan. 25, 2024
Installment Two [Member]
Business Combinations [Line Items]
Installment date		Jan. 25, 2025
Installment Three [Member]
Business Combinations [Line Items]
Installment date		Jan. 25, 2026
Not later than one year [member]
Business Combinations [Line Items]
Acquisition percentage				25%
Later than one year [member]
Business Combinations [Line Items]
Acquisition percentage				12.50%
Nuvini S.A [Member]
Business Combinations [Line Items]
Acquisition percentage		55%
Smart NX [Member]
Business Combinations [Line Items]
Acquisition percentage		45%
Mercos [Member]
Business Combinations [Line Items]
Payment to founding partner	R$ 22000
Estimated value of purchase agreement	R$ 66000
Equity ownership	8%
Leadlovers [Member]
Business Combinations [Line Items]
Deferred and contingent consideration				R$ 44021
Business Combination [Member]
Business Combinations [Line Items]
Divided shares value				7,813
Onclick [Member]
Business Combinations [Line Items]
Deferred and contingent consideration				19,102
Effecti [Member]
Business Combinations [Line Items]
Deferred and contingent consideration				106,096
Contingent consideration amount					R$ 2800
Datahub [Member]
Business Combinations [Line Items]
Deferred and contingent consideration					23,088
Contingent consideration amount					R$ 14329
Ipe [Member]
Business Combinations [Line Items]
Deferred and contingent consideration				R$ 34770
Nonadjusting Events After Reporting Period [Member]
Business Combinations [Line Items]
Contingent consideration amount			R$ 15419
Nonadjusting Events After Reporting Period [Member] | Leadlovers [Member]
Business Combinations [Line Items]
Deferred and contingent consideration			15,627
Contingent consideration amount			28,394
Nonadjusting Events After Reporting Period [Member] | Ipe [Member]
Business Combinations [Line Items]
Contingent consideration amount			R$ 19352

Business Combinations - Schedul

Business Combinations - Schedule of Fair Values of Acquired Assets and Liabilities (Details) - Smart NX [Member] R$ in Thousands	Dec. 31, 2023 BRL (R$)
Assets
Cash and cash equivalents	R$ 998
Accounts receivable	3,061
Property and equipment	172
Right-of-use asset	107
Brand	1,935
Customer relationships	1,685
Technology software	2,581
Other current assets	5,545
Other non-current assets	1,204
Total—Assets	17,288
Liabilities
Accounts payable to suppliers	894
Labor obligations	776
Tax obligations	940
Lease liabilities	118
Loans and financing	40
Deferred tax	2,421
Other current liabilities	28
Provisions	1,184
Total—Liabilities	6,401
Goodwill	15,960
Net assets acquired	R$ 26847

Business Combinations - Sched_2

Business Combinations - Schedule of Non-Current Liabilities Payable Under the Deferred and Contingent Consideration Arrangements (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current deferred and contingent consideration:
Total current deferred and contingent consideration	R$ 227077	R$ 194972
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration	5,000	39,984
Effecti [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration	106,096	90,456
Leadlovers [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration	44,021	46,937
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration		17,229
Ipe [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration	34,770	19,690
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration		11,612
Datahub [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration	23,088	20,377
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration		6,662
Mercos [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration
Onclick [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration	19,102	17,512
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration		4,481
Smart NX [Member]
Current deferred and contingent consideration:
Total current deferred and contingent consideration
Non-current deferred and contingent consideration:
Total non-current deferred and contingent consideration	R$ 5000

Business Combinations - Sched_3

Business Combinations - Schedule of Deferred and Contingent Consideration Including Level 3 Fair Value Measurements (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Deferred and Contingent Consideration Including Level 3 Fair Value Measurements [Abstract]
Balance	R$ 234956	R$ 291305	R$ 78214
Initial recognition of deferred and contingent consideration relating to acquisitions	5,000		175,561
Initial recognition of deferred and fixed consideration relating to acquisitions			15,665
Payments	(6,215)	(9,898)	(10,500)
Derecognition of Mercos deferred and contingent consideration (note 5 and 17)		(62,745)
Deferred and contingent consideration converted to equity	(39,502)
Contingent consideration adjustment	13,212	16,294	32,365
Interest	24,626
Balance	R$ 232077	R$ 234956	R$ 291305

Financial Instruments (Details)

Financial Instruments (Details) - BRL (R$)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial liabilities [line items]
Percentage of net revenue	10%
Percentage of increase or decrease in interest rates	10%
Percentage of increase or actual reduction of risk total exposure	1%
Percentage of CDI rate	13.03%	12.39%
Percentage of market interest rate	50%
Negative working capital (in Brazil Real)	R$ 308579
Current liabilities (in Brazil Real)	R$ 852000	R$ 1391000
Bottom of Range [Member]
Disclosure of financial liabilities [line items]
Percentage of interest rate	25%
Top of Range [Member]
Disclosure of financial liabilities [line items]
Percentage of interest rate	50%
Nuvini S.A. 's [Member]
Disclosure of financial liabilities [line items]
Percentage of net revenue	20%
Percentage of market interest rate	25%
Current liabilities (in Brazil Real)	R$ 232077000

Financial Instruments - Schedul

Financial Instruments - Schedule of Financial Instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative warrants [Member]
Financial liabilities:
Classification	FVTPL
Financial liabilities	R$ 4464
Contingent consideration on acquisitions [Member]
Financial liabilities:
Classification	FVTPL
Financial liabilities	R$ 144526	116,238
Exposure premium - debentures [Member]
Financial liabilities:
Classification	FVTPL
Financial liabilities	R$ 1835	841
Subscription rights [Member]
Financial liabilities:
Classification	FVTPL
Financial liabilities		39,343
Deferred consideration on acquisitions [Member]
Financial liabilities:
Classification	Amortized cost
Financial liabilities	R$ 87551	118,718
Loans and financing [Member]
Financial liabilities:
Classification	Amortized cost
Financial liabilities	R$ 5289	1,807
Debentures [Member]
Financial liabilities:
Classification	Amortized cost
Financial liabilities	R$ 51197	60,873
Related Parties [Member]
Financial liabilities:
Classification	Amortized cost
Financial liabilities	R$ 9867	R$ 4078

Financial Instruments - Sched_2

Financial Instruments - Schedule of Measurement and Reconciliation of Financial Liabilities (Details) - Level 3 [Member] - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Measurement and Reconciliation of Financial Liabilities [Line Items]
Balance	R$ 156422	R$ 290944	R$ 78214
Additions	29,282	35,846	223,230
Transfer to equity (converted in shares)	(35,410)
Write off in the P&L	(3,933)
Payments		(9,898)	(10,500)
Derecognition of Mercos deferred and contingent consideration		(62,745)
Transfer of contingent consideration to Amortized Cost		(97,725)
Balance	R$ 146361	R$ 156422	R$ 290944

Financial Instruments - Sched_3

Financial Instruments - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement (Details)	12 Months Ended
	Dec. 31, 2023
Contingent consideration on acquisitions [Member]
Financial Instruments - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement (Details) [Line Items]
Contingent consideration on acquisitions Valuation technique	Income approach- Revenue multiples
Contingent consideration on acquisitions Significant unobservable input	Weighted average cost of capital, projected future revenues
Contingent consideration on acquisitions Relationship of inputs to fair value	The higher the weighted average cost of capital, the lower the fair value. The higher the revenue projections, the higher the fair value.
Exposure premium [Member]
Financial Instruments - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement (Details) [Line Items]
Exposure premium Valuation technique	Income approach- Monte carlo
Exposure premium Significant unobservable input	Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events
Exposure premium Relationship of inputs to fair value	The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value.
Subscription rights [Member]
Financial Instruments - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement (Details) [Line Items]
Subscription rights Valuation technique	Income approach- Monte carlo
Subscription rights Significant unobservable input	Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events
Subscription rights Relationship of inputs to fair value	The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value.

Financial Instruments - Sched_4

Financial Instruments - Schedule of Liquidity Risk (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Liquidity Risk [Line Items]
Accounts payable to suppliers		R$ 47133	R$ 7283
Other liabilities		852	3,550
Loans and financing		5,289	1,569
Debentures(i)	[1]	51,197	61,161
Deferred and contingent consideration		232,077	240,622
Subscription rights			31,477
Lease liabilities		1,519	1,587	R$ 2537
Related parties		9,867	3,900
Total		347,934	351,149
Less than 1 year [Member]
Schedule of Liquidity Risk [Line Items]
Accounts payable to suppliers		47,133	7,283
Other liabilities		852	1,390
Loans and financing		4,960	841
Debentures(i)	[1]	51,197	61,161
Deferred and contingent consideration		227,077	194,138
Subscription rights			31,477
Lease liabilities		742	976
Related parties		9,867
Total		341,828	297,266
1 to 3 years [Member]
Schedule of Liquidity Risk [Line Items]
Accounts payable to suppliers
Other liabilities			2,160
Loans and financing		329	728
Debentures(i)	[1]
Deferred and contingent consideration		5,000	46,484
Subscription rights
Lease liabilities		777	611
Related parties			3,900
Total		R$ 6106	R$ 53883
[1]The Company was not in compliance with the related financial covenants under the debentures on December 31, 2023, and 2022, and the amounts owed under the debentures are classified as current. Refer to Note 15 for details relating to these covenants and waiver obtained by the Company.

Financial Instruments - Sched_5

Financial Instruments - Schedule of Contractual Principal Payments Due with Final Maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Contractual Principal Payments Due with Final Maturity [Line Items]
Debentures	R$ 51197	R$ 60873	R$ 60484
Less than 1 year [Member]
Schedule of Contractual Principal Payments Due with Final Maturity [Line Items]
Debentures
1 to 3 years [Member]
Schedule of Contractual Principal Payments Due with Final Maturity [Line Items]
Debentures	51,197
3 to 5 years [Member]
Schedule of Contractual Principal Payments Due with Final Maturity [Line Items]
Debentures

Financial Instruments - Sched_6

Financial Instruments - Schedule of Estimating an Increase or Decrease Profit or Loss (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)
Schedule of Increase or Decrease Profit or Loss [Line Items]
Short-term investments—101% of CDI	R$ 8339
Exposure to CDI—Assets	8,339
Related parties—100% of CDI	(9,867)
Debentures—100% of CDI	(51,197)
Exposure to CDI—Liabilities	(61,064)
Net exposure	(52,725)
Scenario I (Probable) [Member]
Schedule of Increase or Decrease Profit or Loss [Line Items]
Potential net effect on profit or loss	R$ 1264	[1]
Assets	9.34%	[1]
Short-term investments—101% of CDI	R$ 202	[1]
Exposure to CDI—Assets	R$ 202	[1]
Liability	9.25%	[1]
Related parties—100% of CDI	R$ 237	[1]
Debentures—100% of CDI	1,229	[1]
Exposure to CDI—Liabilities	1,466	[1]
Net exposure	1,264	[1]
Scenario II +/- 25% [Member]
Schedule of Increase or Decrease Profit or Loss [Line Items]
Potential net effect on profit or loss	R$ 47
Assets	11.68%
Short-term investments—101% of CDI	R$ 7
Exposure to CDI—Assets	R$ 7
Liability	11.56%
Related parties—100% of CDI	R$ 9
Debentures—100% of CDI	45
Exposure to CDI—Liabilities	54
Net exposure	47
Scenario III +/- 50% [Member]
Schedule of Increase or Decrease Profit or Loss [Line Items]
Potential net effect on profit or loss	R$ 1172
Assets	14.01%
Short-term investments—101% of CDI	R$ 187
Exposure to CDI—Assets	R$ 187
Liability	13.88%
Related parties—100% of CDI	R$ 220
Debentures—100% of CDI	(1,139)
Exposure to CDI—Liabilities	(1,359)
Net exposure	R$ 1172
Exposure Spot rates [Member]
Schedule of Increase or Decrease Profit or Loss [Line Items]
Assets	11.77%	[2]
Liability	11.65%	[2]
[1]Based on the projected forecast, as of December 31, 2023, as published by the Central Bank of Brazil.[2]Based on spot rate, as of the date of this financial statements, as published by the Central Bank of Brazil.

Financial Instruments - Sched_7

Financial Instruments - Schedule of Estimating an Increase or Decrease Profit or Loss (Parentheticals) (Details)	12 Months Ended
	Dec. 31, 2023
Schedule of Increase or Decrease Profit or Loss [Line Items]
Short-term investments— 101% of CDI	101%
Debentures— 100% of CDI	100%

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents [Abstract]
Percentage of investments earning interest	101%	101%

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	R$ 3059	R$ 2537
Short-term investments	8,339	5,478
Total	R$ 11398	R$ 8015	R$ 10901	R$ 1648

Trade Accounts Receivable (Deta

Trade Accounts Receivable (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade Accounts Receivable [Line Items]
Trade accounts receivable	R$ 2519	R$ 153	R$ 3027
Write-offs of accounts receivable	953		R$ 487
Trade receivables [member]
Trade Accounts Receivable [Line Items]
Trade accounts receivable	R$ 4145	R$ 2272

Trade Accounts Receivable - Sch

Trade Accounts Receivable - Schedule of Trade Accounts Receivable (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Trade Accounts Receivable [Abstract]
Trade accounts receivable	R$ 14852	R$ 10225
Allowance for expected credit losses	(589)	(149)
Trade accounts receivable, net	R$ 14263	R$ 10076

Trade Accounts Receivable - S_2

Trade Accounts Receivable - Schedule of Allowance for Expected Credit Losses (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Allowance for Expected Credit Losses [Abstract]
Balance beginning	R$ 149	R$ 117
Reversal of provision	98
Balance ending	(589)	(149)	(117)
Reversal of provision	98
Allowance recorded during the year	R$ 538	R$ 32	R$ 117

Trade Accounts Receivable - S_3

Trade Accounts Receivable - Schedule of Trade Accounts Receivables by Aging Category (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Aging list:
Trade accounts receivables	R$ 14852	R$ 10225
Current [Member] | Gross carrying amount [Member]
Aging list:
Trade accounts receivables	11,975	8,844
Due up to 30 days [Member] | Gross carrying amount [Member]
Aging list:
Trade accounts receivables	1,651	747
Due from 30 to 60 days [Member] | Gross carrying amount [Member]
Aging list:
Trade accounts receivables	272	161
Due from 60 to 90 days [Member] | Gross carrying amount [Member]
Aging list:
Trade accounts receivables	365	324
Overdue over 90 days [Member] | Gross carrying amount [Member]
Aging list:
Trade accounts receivables	R$ 589	R$ 149

Related Parties (Details)

Related Parties (Details)

12 Months Ended

Feb. 13, 2023 BRL (R$)

Dec. 15, 2022 BRL (R$)

Nov. 30, 2022 BRL (R$)

Mar. 29, 2022 BRL (R$)

Feb. 01, 2022 BRL (R$)

Jan. 27, 2022 BRL (R$)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 BRL (R$)

Jul. 03, 2023 BRL (R$)

May 20, 2022 BRL (R$)

Dec. 31, 2021

Sep. 29, 2021 BRL (R$)

Sep. 03, 2021 BRL (R$)

Aug. 31, 2021 BRL (R$)

Aug. 23, 2021 BRL (R$)

Dec. 31, 2020

Disclosure of transactions between related parties [line items]

Total value of loan, percentage

2%

Interest rate

100%

3%

Principal amount (in Brazil Real)

R$ 3000000

Percentage of CDI

3%

Loan agreements CDI, percentage

8%

Loans received (in Brazil Real)

R$ 16799000

R$ 3700000

Percentage of issued shares

50.60%

81.60%

Maturity date

16 months

Principal loan amount

15%

Remaining outstanding and payable (in Brazil Real)

R$ 700000

Borrowings (in Brazil Real)

R$ 1100000

R$ 1500000

Repayment of loan (in Brazil Real)

R$ 2600000

Advisor fee (in Dollars) | $

$ 1,500

Number of stock option units

1,949,796

13,401,980

14,114,763

110,000,000

Percentage of option exercisable

50%

Advisor Agreements [Member]

Disclosure of transactions between related parties [line items]

Number of stock option units

285,171

Additional Advisor Agreements [Member]

Disclosure of transactions between related parties [line items]

Number of stock option units

7,453,449

Two Thousand Twenty One Loans [Member]

Disclosure of transactions between related parties [line items]

Interest rate

8%

First Loan Agreements [Member]

Disclosure of transactions between related parties [line items]

Interest rate

10%

Principal amount (in Brazil Real)

R$ 500000

Percentage of CDI

100%

Maturity date

12 months

Second Loan Agreements [Member]

Disclosure of transactions between related parties [line items]

Interest rate

23.25%

Principal amount (in Brazil Real)

R$ 300000

R$ 1039000

Third Loan Agreement [Member]

Disclosure of transactions between related parties [line items]

Interest rate

100%

Principal amount (in Brazil Real)

R$ 1200000

Percentage of CDI

3%

Fourth Loan Agreement [Member]

Disclosure of transactions between related parties [line items]

Interest rate

100%

Principal amount (in Brazil Real)

R$ 1150000

Percentage of CDI

3%

Related Party Loan Agreements [Member]

Disclosure of transactions between related parties [line items]

Interest rate

100%

Schurmann [Member]

Disclosure of transactions between related parties [line items]

Interest rate

10%

Principal amount (in Brazil Real)

R$ 3300000

R$ 3200

Percentage of CDI

100%

Principal loan amount

15%

Stock Option [Member]

Disclosure of transactions between related parties [line items]

Number of stock option units

646,552

Loan commitments [member]

Disclosure of transactions between related parties [line items]

Granted loan (in Brazil Real)

R$ 3000000

R$ 6000000

Related Parties - Schedule of L

Related Parties - Schedule of Loan Balances Outstanding (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [line items]
Related party loan		R$ 9867	R$ 4078
Pierre Schurmann [Member]
Disclosure of transactions between related parties [line items]
Related party loan	[1],[2],[3]	8,890	3,232
Aury Ronan Francisco [Member]
Disclosure of transactions between related parties [line items]
Related party loan	[4]	R$ 977	R$ 846
[1]Nuvini S.A. entered into two loan agreements with Schurmann during 2023. The first agreement entered into on February 13, 2023, in the principal amount of R$3,300 with interest of 10 % per year and 100% of CDI, and with a maturity of 12 months. The second agreement entered into on July 3, 2023, in the principal amount of R$1,039 interest equivalent to 23.25% per year, and term date of October 25, 2023.[2]On December 15, 2022, Nuvini S.A. entered into a loan agreement with Schurmann, in the principal amount of R$3,200 with an interest rate of 10% per annum and 100% of CDI, and with a maturity of 16 months. Pursuant to the terms of this agreement, Schurmann was entitled to a premium in the equivalent of 15% of the principal loan amount. This amount was settled in Nvni Group Limited shares.[3]The 2021 loans were granted in two installments on August 23, 2021, in the amount of R$6,000 and on August 31, 2021, in the amount of R$3,000, both installments payable within 6 months. Interest on the outstanding loan is calculated using a fixed rate of 8% per annum. From January 27, 2022, and March 28, 2022, Nuvini S.A. entered into four additional loan agreements with Schurmann. The first and second loan agreements were entered into on January 27, 2022, in the principal amount of R$500 and R$300 respectively, each carrying an interest rate of 100% of CDI plus 3% per annum. The third loan agreement was entered into on February 1, 2022, with a principal amount of R$1,200, carrying an interest rate equal to 100% of CDI plus 3% per annum. The fourth loan agreement was entered into on March 29, 2022, with a principal amount of R$1,150, carrying an interest rate equal to 100% of CDI plus 3% per annum. On April 28, 2022, Nuvini S.A. and Schurmann entered into a first consolidated amendment applicable to all the Related Party Loan Agreements in order to (i) condition the payment of the Related Party Loan Agreements to the achievement of a gross debt indicator/pro forma EBITDA less or equal to 3.5x for three consecutive semesters by Nuvini S.A., in connection with the Exposure Premium, as per deliberated in a general meeting of the debenture holders; and (ii) equalize the interest rates of all Related Party Loan Agreements in 100% of the CDI plus 8% per annum. In December 2022, all amounts payable under these loans, amounting to R$16,799, were converted into subscription rights with the same terms as those described in note 17. Schurmann holds 81.6% of the Nuvini Holding Limited shares as of December 31, 2022. As of December 31, 2023, after the conversion of Nuvini Holding Limited stock to Nvni Group Limited, Schurmann holds 50.6% of the issued shares.[4] On May 20, 2022, and December 15, 2022, respectively, Nuvini S.A. entered into two loan agreements with Accipiens Consultoria e Participações EIRELI, an entity owned and operated by Luiz Busnello, COO, in the amount of R$1,500 and R$1,100, respectively, with no interest rate attached. The right to repayment of the R$2,600 loan balance was assigned to Schurmann on November 30, 2022, who paid Luiz Busnello in cash in exchange for the right to be repaid under the loan, pursuant to the terms of the “ Instrumento Particular de Cessão de Crédito

Related Parties - Schedule of K

Related Parties - Schedule of Key Management Compensation (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Key Management Compensation [Abstract]
Short-term compensation (including salary)	R$ 434	R$ 573	R$ 2938
Short-term employee benefits	72	76	48
Post-employment benefits			7
Termination benefits	62		274
Share-based compensation	16,685	9,007	1,957
Total	R$ 17253	R$ 9656	R$ 5224

Property and Equipment, Net a_3

Property and Equipment, Net and Right-of-Use Assets, Net (Details)	Dec. 31, 2023
Bottom of Range [Member]
Property and Equipment, Net and Right-of-Use Assets, Net [Line Items]
Lease terms	2 years
Lease agreements range	10.50%
Top of Range [Member]
Property and Equipment, Net and Right-of-Use Assets, Net [Line Items]
Lease terms	5 years
Lease agreements range	18%

Property and Equipment, Net a_4

Property and Equipment, Net and Right-of-Use Assets, Net - Schedule of Fixed and Right-of-Use Assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 5425	R$ 4373	R$ 4855
Machinery and Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 89	100	50
Property, plant and equipment including right-of-use assets, Depreciation period (in years)	3 years
Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 568	405	490
Property, plant and equipment including right-of-use assets, Depreciation period (in years)	10 years
Computers and Peripherals [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 2931	2,068	1,507
Property, plant and equipment including right-of-use assets, Depreciation period (in years)	5 years
Facilities [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 172	218	241
Property, plant and equipment including right-of-use assets, Depreciation period (in years)	10 years
Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount			(6)
Property, plant and equipment including right-of-use assets, Depreciation period (in years)	10 years
Work in Progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	R$ 47	47	62
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	183	94	54
Right-of-Use Asset [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets,Net amount	1,435	1,441	2,457
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	7,151	5,888	280
Property, plant and equipment including right-of-use assets, Additions	4,273	1,443	3,058
Property, plant and equipment including right-of-use assets, Acquisitions	345		2,793
Property, plant and equipment including right-of-use assets, Disposals	(3,240)	(180)	(243)
Property, plant and equipment including right-of-use assets, Ending balance	8,529	7,151	5,888
Gross carrying amount [member] | Machinery and Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	108	50
Property, plant and equipment including right-of-use assets, Additions		58	50
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals
Property, plant and equipment including right-of-use assets, Ending balance	108	108	50
Gross carrying amount [member] | Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	556	548	71
Property, plant and equipment including right-of-use assets, Additions	384	12	149
Property, plant and equipment including right-of-use assets, Acquisitions	12		450
Property, plant and equipment including right-of-use assets, Disposals	(143)	(4)	(122)
Property, plant and equipment including right-of-use assets, Ending balance	809	556	548
Gross carrying amount [member] | Computers and Peripherals [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	2,871	1,849	186
Property, plant and equipment including right-of-use assets, Additions	2,918	1,131	731
Property, plant and equipment including right-of-use assets, Acquisitions	225		959
Property, plant and equipment including right-of-use assets, Disposals	(2,188)	(109)	(27)
Property, plant and equipment including right-of-use assets, Ending balance	3,826	2,871	1,849
Gross carrying amount [member] | Facilities [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	272	272	23
Property, plant and equipment including right-of-use assets, Additions	24		25
Property, plant and equipment including right-of-use assets, Acquisitions			224
Property, plant and equipment including right-of-use assets, Disposals	(67)
Property, plant and equipment including right-of-use assets, Ending balance	229	272	272
Gross carrying amount [member] | Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(50)	(50)
Property, plant and equipment including right-of-use assets, Additions
Property, plant and equipment including right-of-use assets, Acquisitions			39
Property, plant and equipment including right-of-use assets, Disposals	50		(89)
Property, plant and equipment including right-of-use assets, Ending balance		(50)	(50)
Gross carrying amount [member] | Work in Progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	47	62
Property, plant and equipment including right-of-use assets, Additions		52	67
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals		(67)	(5)
Property, plant and equipment including right-of-use assets, Ending balance	47	47	62
Gross carrying amount [member] | Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	204	127
Property, plant and equipment including right-of-use assets, Additions	179	77	64
Property, plant and equipment including right-of-use assets, Acquisitions			63
Property, plant and equipment including right-of-use assets, Disposals	(63)
Property, plant and equipment including right-of-use assets, Ending balance	320	204	127
Gross carrying amount [member] | Right-of-Use Asset [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	3,143	3,030
Property, plant and equipment including right-of-use assets, Additions	768	113	1,972
Property, plant and equipment including right-of-use assets, Acquisitions	108		1,058
Property, plant and equipment including right-of-use assets, Disposals	(829)
Property, plant and equipment including right-of-use assets, Ending balance	3,190	3,143	3,030
Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(2,778)	(1,033)	(70)
Property, plant and equipment including right-of-use assets, Depreciation expense	(1,912)	(1,810)	(1,071)
Property, plant and equipment including right-of-use assets, Acquisitions	(65)
Property, plant and equipment including right-of-use assets, Disposals	1,651	65	108
Property, plant and equipment including right-of-use assets, Ending balance	(3,104)	(2,778)	(1,033)
Accumulated depreciation and amortisation [member] | Machinery and Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(8)
Property, plant and equipment including right-of-use assets, Depreciation expense	(11)	(8)
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals
Property, plant and equipment including right-of-use assets, Ending balance	(19)	(8)
Accumulated depreciation and amortisation [member] | Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(151)	(58)	(12)
Property, plant and equipment including right-of-use assets, Depreciation expense	(88)	(94)	(93)
Property, plant and equipment including right-of-use assets, Acquisitions	(2)
Property, plant and equipment including right-of-use assets, Disposals		1	47
Property, plant and equipment including right-of-use assets, Ending balance	(241)	(151)	(58)
Accumulated depreciation and amortisation [member] | Computers and Peripherals [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(803)	(342)	(53)
Property, plant and equipment including right-of-use assets, Depreciation expense	(832)	(519)	(290)
Property, plant and equipment including right-of-use assets, Acquisitions	(63)
Property, plant and equipment including right-of-use assets, Disposals	803	58	1
Property, plant and equipment including right-of-use assets, Ending balance	(895)	(803)	(342)
Accumulated depreciation and amortisation [member] | Facilities [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(54)	(31)	(5)
Property, plant and equipment including right-of-use assets, Depreciation expense	(21)	(23)	(26)
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals	18
Property, plant and equipment including right-of-use assets, Ending balance	(57)	(54)	(31)
Accumulated depreciation and amortisation [member] | Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	50	44
Property, plant and equipment including right-of-use assets, Depreciation expense			(16)
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals	(50)	6	60
Property, plant and equipment including right-of-use assets, Ending balance		50	44
Accumulated depreciation and amortisation [member] | Work in Progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance
Property, plant and equipment including right-of-use assets, Depreciation expense
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals
Property, plant and equipment including right-of-use assets, Ending balance
Accumulated depreciation and amortisation [member] | Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(110)	(73)
Property, plant and equipment including right-of-use assets, Depreciation expense	(98)	(37)	(73)
Property, plant and equipment including right-of-use assets, Acquisitions
Property, plant and equipment including right-of-use assets, Disposals	71
Property, plant and equipment including right-of-use assets, Ending balance	(137)	(110)	(73)
Accumulated depreciation and amortisation [member] | Right-of-Use Asset [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment including right-of-use assets Beginning balance	(1,702)	(573)
Property, plant and equipment including right-of-use assets, Depreciation expense	(862)	(1,129)	(573)
Property, plant and equipment including right-of-use assets, Disposals	809
Property, plant and equipment including right-of-use assets, Ending balance	R$ 1755	R$ 1702	R$ 573

Property and Equipment, Net a_5

Property and Equipment, Net and Right-of-Use Assets, Net - Schedule of Right-of-Use Asset and Lease Liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Right-of-use asset:
Right-of-use asset, Beginning balance	R$ 1441	R$ 2457
Acquisitions from business combinations			1,058
Additions	876	113	1,972
Amortization	(862)	(1,129)	(573)
Disposals	(20)
Right-of-use asset, Ending balance	1,435	1,441	2,457
Lease liabilities:
Lease liabilities, Beginning balance	1,587	2,537
Acquisitions			1,058
Additions	1,341		1,972
Interest accrued	316	175	103
Consideration paid	(1,053)	(1,238)	(596)
Cancellations	(710)
Remeasurement	38	113
Lease liabilities, Ending balance	R$ 1519	R$ 1587	R$ 2537

Property and Equipment, Net a_6

Property and Equipment, Net and Right-of-Use Assets, Net - Schedule of Future Contractual Lease Payments (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amounts payable under leases:
Present value of lease liabilities	R$ 1519	R$ 1587	R$ 2537
Less: Interest to be appropriated	(287)	(122)
Up to 1 year [Member]
Amounts payable under leases:
Present value of lease liabilities	912	1,174
From 2 to 3 years [Member]
Amounts payable under leases:
Present value of lease liabilities	R$ 894	R$ 535

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets, Net [Line Items]
Percentage of growth rate in perpetuity	3%
Percentage of discount rate		14.30%
Impairment total amount	R$ 81152
Goodwill	204,099	R$ 199512
Carrying value amount	120,929
Recoverable amount	31,299	35,848
Percentage of impairment			15.33%
Value of impairment	R$ 107856
Cash flow value		3,613
Bottom of range [Member]
Intangible Assets, Net [Line Items]
Percentage of discount rate	10.50%
Top of range [Member]
Intangible Assets, Net [Line Items]
Percentage of discount rate	18%
CGU Lead Lovers [Member]
Intangible Assets, Net [Line Items]
Impairment total amount	R$ 11373
Carrying value amount	R$ 106157
CGU Lead Lovers [Member] | Bottom of range [Member]
Intangible Assets, Net [Line Items]
Percentage of discount rate	12.57%
CGU Lead Lovers [Member] | Top of range [Member]
Intangible Assets, Net [Line Items]
Percentage of discount rate	18.17%
Datahub [Member]
Intangible Assets, Net [Line Items]
Impairment total amount	R$ 86897
Goodwill	1,816	R$ 85081
Carrying value amount	R$ 42672

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Goodwill and Intangible Assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cost:
Beginning balance	R$ 138951
Additions			R$ 47
Accumulated amortization, Amortization for the period	(16,739)	R$ 15424	(12,507)
Additions by acquisition	22,161		363,589
Cost, Additions by internal development	8,648	2,992	2,676
Cost, Impairment of goodwill	(11,373)	(86,897)	(6,758)
Ending Balance	137,061	138,951
Intangible assets, net	341,160	338,463	437,792
Technology software [Member]
Cost:
Additions			40
Accumulated amortization, Amortization for the period	(8,440)	(7,768)	(6,219)
Additions by acquisition	2,581		37,032
Cost, Additions by internal development	8,648	2,992	2,676
Cost, Impairment of goodwill
Intangible assets, net	R$ 37751	34,962	39,738
Cost, Amortization period (in years)	5-10
Brands [Member]
Cost:
Additions			7
Accumulated amortization, Amortization for the period	R$ 3294	(3,195)	(2,535)
Additions by acquisition	1,935		60,722
Cost, Additions by internal development
Cost, Impairment of goodwill
Intangible assets, net	R$ 71115	72,474	75,669
Cost, Amortization period (in years)	22-25
Customer relationships [Member]
Cost:
Additions
Accumulated amortization, Amortization for the period	R$ 3796	(3,252)	(2,736)
Additions by acquisition	1,685		24,176
Cost, Additions by internal development
Cost, Impairment of goodwill
Intangible assets, net	R$ 25730	27,841	31,093
Cost, Amortization period (in years)	3-17
Non-competition agreements [Member]
Cost:
Additions
Accumulated amortization, Amortization for the period	R$ 1209	(1,209)	(1,017)
Additions by acquisition			3,872
Cost, Additions by internal development
Cost, Impairment of goodwill
Intangible assets, net	R$ 2465	3,674	4,883
Cost, Amortization period (in years)	5-6
Goodwill [Member]
Cost:
Additions
Accumulated amortization, Amortization for the period
Additions by acquisition	15,960		237,787
Cost, Additions by internal development
Cost, Impairment of goodwill	(11,373)	(86,897)	(6,758)
Intangible assets, net	R$ 204099	199,512	286,409
Cost, Amortization period (in years)	Indefinite
Gross carrying amount [member]
Cost:
Beginning balance	R$ 366844	450,749	91,195
Ending Balance	386,280	366,844	450,749
Gross carrying amount [member] | Technology software [Member]
Cost:
Beginning balance	49,165	46,173	6,425
Ending Balance	60,394	49,165	46,173
Gross carrying amount [member] | Brands [Member]
Cost:
Beginning balance	78,321	78,321	17,592
Ending Balance	80,256	78,321	78,321
Gross carrying amount [member] | Customer relationships [Member]
Cost:
Beginning balance	33,889	33,889	9,713
Ending Balance	35,574	33,889	33,889
Gross carrying amount [member] | Non-competition agreements [Member]
Cost:
Beginning balance	5,957	5,957	2,085
Ending Balance	5,957	5,957	5,957
Gross carrying amount [member] | Goodwill [Member]
Cost:
Beginning balance	199,512	286,409	55,380
Ending Balance	204,099	199,512	286,409
Accumulated depreciation, amortisation and impairment [member]
Cost:
Beginning balance	(28,381)	(12,957)	(450)
Ending Balance	(45,120)	(28,381)	(12,957)
Accumulated depreciation, amortisation and impairment [member] | Technology software [Member]
Cost:
Beginning balance	(14,203)	(6,435)	(216)
Ending Balance	(22,643)	(14,203)	(6,435)
Accumulated depreciation, amortisation and impairment [member] | Brands [Member]
Cost:
Beginning balance	(5,847)	(2,652)	(117)
Ending Balance	(9,141)	(5,847)	(2,652)
Accumulated depreciation, amortisation and impairment [member] | Customer relationships [Member]
Cost:
Beginning balance	(6,048)	(2,796)	(60)
Ending Balance	(9,844)	(6,048)	(2,796)
Accumulated depreciation, amortisation and impairment [member] | Non-competition agreements [Member]
Cost:
Beginning balance	(2,283)	(1,074)	(57)
Ending Balance	(3,492)	(2,283)	(1,074)
Accumulated depreciation, amortisation and impairment [member] | Goodwill [Member]
Cost:
Beginning balance
Ending Balance

Salaries and Labor Charges - Sc

Salaries and Labor Charges - Schedule of Composition of Salaries and Labor Charges (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Composition of Salaries and Labor Charges [Abstract]
Wages payable	R$ 5672	R$ 6514	R$ 2816
Accrued labor benefits	7,186	4,698	3,857
Labor taxes	3,816	3,803	2,220
Total salaries and labor charges	R$ 16674	R$ 15015	R$ 8893

Loans and Financing (Details)

Loans and Financing (Details)	12 Months Ended
	Dec. 31, 2023 BRL (R$)
Loans and financing [Abstract]
Prepaid insurance	R$ 4078

Loans and Financing - Schedule

Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loan [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Total	R$ 5289	R$ 1797
Loan [Member] | CEF [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	23.36%
Maturity	2023 years
Total		78
Loan [Member] | Itaú Bank [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	1.10%
Maturity	2023 years
Total		277
Loan [Member] | Santander Bank [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	0.06%
Maturity	2024 years
Total	R$ 4254
Loan [Member] | Bradesco Bank [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	12.15%
Maturity	2024 years
Total	R$ 343	355
Loan [Member] | BNDES [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	12.27%
Maturity	2024 years
Total	R$ 692	1,087
Financing [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Total		10
Current	4,960	1,138
Non-current	R$ 329	669
Financing [Member] | BNDES - Equipment [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	1.14%
Maturity	2023 years
Total		2
Financing [Member] | BNDES - Equipment [Member]
Loans and Financing - Schedule of Outstanding Balance of Loans and Financing (Details) [Line Items]
Interest Rate	1.14%
Maturity	2023 years
Total		R$ 8

Loans and Financing - Schedul_2

Loans and Financing - Schedule of Non-Current Liabilities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Non-Current Liabilities [Line Items]
Non-current liabilities	R$ 329	R$ 669
2024 [Member]
Schedule of Non-Current Liabilities [Line Items]
Non-current liabilities		669
2025 [Member]
Schedule of Non-Current Liabilities [Line Items]
Non-current liabilities	311
2026 [Member]
Schedule of Non-Current Liabilities [Line Items]
Non-current liabilities	R$ 18

Loans and Financing - Schedul_3

Loans and Financing - Schedule of Loan Activity (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Loan Activity [Abstract]
Balances at beginning	R$ 1807	R$ 8300
Balance at ending	5,289	1,807	8,300
Additions	5,462	4,000	15,000
Additions by acquisition of companies			3,994
Interest accrual	940	349	511
Principal payments	(2,034)	(10,101)	(10,962)
Interest payments	R$ 886	R$ 741	R$ 243

Loans and Financing - Schedul_4

Loans and Financing - Schedule of Trade and Other Payables (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Schedule of Trade and Other Payables [Line Items]
Trade accounts receivable, net		R$ 47133	R$ 7283
Suppliers- National and foreign [Member]
Schedule of Trade and Other Payables [Line Items]
Trade accounts receivable, net		7,676	7,283
Suppliers - IPO transaction expenses [Member]
Schedule of Trade and Other Payables [Line Items]
Trade accounts receivable, net	[1]	R$ 39457
[1]Consists of concentrated expenses incurred in 2023 related to third-party advisory and support services incurred in connection with the reorganization transaction that are not expected to be ongoing. These services were provided by suppliers to the Company. The liability includes the prepaid D&O insurance totaling R$4,078, recognized during the fiscal year ended December 31, 2023.

Loans From Investors (Details)

Loans From Investors (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loans from Investors [Line Items]
Percentage of loan interest rate per annum	10%
Percentage of interest charge on loan overdue	2%
Percentage of principal loan amount		15%
Percentage of loan premium calculated on fair value		15%
Loan premium current (in Brazil Real)		R$ 200
Third Party Investors [Member]
Loans from Investors [Line Items]
Number of loan agreements	twelve	four
Investor loans amount (in Brazil Real)	R$ 7407	R$ 4750
Investor loans maturity amount term		16 years
Percentage of interest accruing rate per annum		10%
Number of additional loan agreements		eight
Schurmanns [Member]
Loans from Investors [Line Items]
Loan premium (in Brazil Real)		R$ 3200

Loans From Investors - Summary

Loans From Investors - Summary of Investor Loan Activity (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary of Investor Loan Activity [Abstract]
Beginning balance	R$ 5249
Ending balance	13,901	5,249
Transfer from loans and financing		320
Additions	7,407	4,750
Amortization	(320)
Interest accrual	R$ 1564	R$ 179

Debentures (Details)

Debentures (Details) - BRL (R$) R$ in Thousands						12 Months Ended
	Dec. 28, 2023	Oct. 13, 2023	Oct. 02, 2023	May 14, 2023	Mar. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Debentures (Details) [Line Items]
Non-convertible debentures, issued (in Shares)				61,000
Single series unit value				R$ 1
Interest accrues rate				10.60%
Transaction cost						R$ 2264
Revenue percentage					7.10%	20%
Total principal payments						R$ 7417
Payment issued	R$ 2435	R$ 2491	R$ 2491
Total capital stock percentage						10%
Percentage of initial investors						5%
Debentures issuance (in Shares)						250,000
Total equity percentage						1.16%
Fair value of the exposure premium						R$ 1835	R$ 841
Bottom of range [Member]
Debentures (Details) [Line Items]
Debentures issued (in Shares)						58,000
Top of range [Member]
Debentures (Details) [Line Items]
Debentures issued (in Shares)						250,000

Debentures - Schedule of Activi

Debentures - Schedule of Activity Related to the Debentures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Activity Related To The Debentures Abstract
Balance Beginning	R$ 60873	R$ 60484
Issuance of debentures			61,000
Transaction costs			(2,264)
Interest incurred	11,639	12,074	5,051
Principal payments	(7,417)
Interest payments	(13,898)	(11,685)	(3,303)
Balance Ending	R$ 51197	R$ 60873	R$ 60484

Debentures - Schedule of Exposu

Debentures - Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According (Details)	12 Months Ended
	Dec. 31, 2023
From May 14, 2021 (inclusive) to May 14, 2022 (exclusive) [Member]
Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According [Line Items]
Cap Applied to Total Debentures Outstanding (%)	35%
From May 14, 2022 (inclusive) to May 14, 2023 (exclusive) [Member]
Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According [Line Items]
Cap Applied to Total Debentures Outstanding (%)	40%
From May 14, 2023 (inclusive) to May 14, 2024 (exclusive) [Member]
Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According [Line Items]
Cap Applied to Total Debentures Outstanding (%)	45%
From May 14, 2024 (inclusive) to May 14, 2031 [Member]
Schedule of Exposure Premium Fair Value Considers a Cap for the Liquidity Event or Early Redemption According [Line Items]
Cap Applied to Total Debentures Outstanding (%)	50%

Provision for Risks (Details)

Provision for Risks (Details)	Dec. 31, 2023
Provision for Risks [Abstract]
Tax authority percentage	5%
Remitted percentage	2%

Provision for Risks - Schedule

Provision for Risks - Schedule of Provision Activity (Details) - Provision Activity [Member] - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Provision Activity [Line Items]
Balance beginning	R$ 31032	R$ 32586	R$ 673
Provisions acquired in business combination (note 5)			22,651
Reversal of provision	(3,292)	(5,307)
Provision recorded during the period	1,777	3,753	9,262
Additions by acquisition	1,184
Additions by merger	119
Provision paid during the period
Balance ending	R$ 30820	R$ 31032	R$ 32586

Provision for Risks - Schedul_2

Provision for Risks - Schedule of Number of Claims, Assessments and Legal Proceedings (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of other provisions [line items]
Total	R$ 5661	R$ 4850
Civil [Member]
Disclosure of other provisions [line items]
Total	727	92
Tax [Member]
Disclosure of other provisions [line items]
Total	R$ 4934	R$ 4758

Equity and Divestitures (Detail

Equity and Divestitures (Details)

1 Months Ended

12 Months Ended

Dec. 22, 2022

Nov. 16, 2022 R$ / shares

Dec. 31, 2022 BRL (R$) R$ / shares

May 31, 2022 BRL (R$)

Mar. 31, 2022 BRL (R$)

Dec. 31, 2023 BRL (R$) R$ / shares shares

Dec. 31, 2022 BRL (R$) R$ / shares

Dec. 31, 2021 BRL (R$) R$ / shares

Dec. 31, 2023 $ / shares

Nov. 30, 2022

Apr. 22, 2021

Feb. 05, 2021

Equity and Divestitures (Details) [Line Items]

Shareholder equity percentage

100%

Exchange ratio

Exchange Ratio of 0.145485724

Conversion of shares (in Shares)

31,617,370,000

Purchase of share (in Shares)

1

Exercise price, per share (in Dollars per share) | (per share)

R$ 2540

R$ 1763

R$ 2540

$ 11.5

Warrant outstanding (in Shares)

23,050,000

Ownership interest percentage

100%

Equity interest percentage

42.09%

100%

100%

Non controlling interests percentage

42.09%

Reselling percentage

42.09%

Capital extinguish per share (in Brazil Real per share) | R$ / shares

R$ 1000

Granted call option percentage

42.09%

Fair value call option (in Brazil Real) | R$

R$ 0

R$ 0

Share capital stock percentage

50.20%

50.20%

Investor consideration (in Brazil Real) | R$

R$ 250000

R$ 1000000

R$ 2500000

Issuance of capital shares (in Brazil Real) | R$

R$ 100000000

Allocated net income of percentage

5%

Share capital percentage

20%

Reserve of capital stock percentage

30%

Adjusted dividend net income percentage

25%

Equity and divestitures, description

●50% of net income (after the deduction of the social contribution on profits and before the provision for corporate income tax and the amounts attributable to shareholders as net interest on equity) related to the period in respect of which the payment is made; or ●50% of the sum of retained profits and profit reserves in the beginning of the period with respect to which the payment is made.

Suspension days

5 years

Dividends paid (in Brazil Real) | R$

Mercato Public Shares [Member]

Equity and Divestitures (Details) [Line Items]

Conversion of shares (in Shares)

4,300,363

Mercato Class B Shares [Member]

Equity and Divestitures (Details) [Line Items]

Conversion of shares (in Shares)

5,570,000

Maxim Shares [Member]

Equity and Divestitures (Details) [Line Items]

Conversion of shares (in Shares)

475,000

PIPE Investor Shares [Member]

Equity and Divestitures (Details) [Line Items]

Conversion of shares (in Shares)

1,280,000

Class A Ordinary Shares [Member]

Equity and Divestitures (Details) [Line Items]

Purchase of share (in Shares)

1

Top of Range [Member]

Equity and Divestitures (Details) [Line Items]

Exercise price, per share (in Dollars per share) | R$ / shares

R$ 1.643

Equity interest percentage

100%

Bottom of Range [Member]

Equity and Divestitures (Details) [Line Items]

Exercise price, per share (in Dollars per share) | R$ / shares

R$ 0.211

Equity interest percentage

57.91%

Nvni Group Limited [Member] | Ordinary shares [member]

Equity and Divestitures (Details) [Line Items]

Conversion of shares (in Shares)

3,884,372

Smart NX [Member]

Equity and Divestitures (Details) [Line Items]

Share capital stock percentage

45%

45%

Brazilian Corporate Law [Member]

Equity and Divestitures (Details) [Line Items]

Allocated net income of percentage

5%

Public Warrants [Member]

Equity and Divestitures (Details) [Line Items]

Warrant outstanding (in Shares)

11,500,000

Market trading price (in Brazil Real per share) | R$ / shares

R$ 0.04

Private Placement Warrants [Member]

Equity and Divestitures (Details) [Line Items]

Warrant outstanding (in Shares)

11,550,000

Market trading price (in Brazil Real per share) | R$ / shares

R$ 0.04

Equity and Divestitures - Sched

Equity and Divestitures - Schedule of Illustrates the Shareholders’ Equity (Details) - SPAC Merger [Member] - shares shares in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Schedule of Illustrates the Shareholders' Equity [Line Items]
Balance at beginning		17,818,669		17,610,450		13,769,811
Shares issued		2,313,622	[1]	208,219	[2]	3,840,639
Subtotal		20,132,291
Acquisition of Nvni Group Limited	[3]	11,485,080
Balance at ending		31,617,370		17,818,669		17,610,450
[1]The shares issued pertain to the premium on loans, subscription right payments, earn out payments and stock option exercised by the board made in 2023, prior to the conversion into Nvni Group Limited shares.[2]Shares were issued in December 2022 in connection with the exercise of subscription rights as detailed below. On December 22, 2022, the Company entered into a contribution agreement with Nuvini Holdings Limited, an exempted company incorporated with limited liability in the Cayman Islands that is the parent company of Nuvini S.A, that effective upon the agreement, the Company transferred 100% of Nuvini shareholders’ equity from Nuvini shares to Nuvini Holdings Limited shares.[3]The acquisition of Nvni Group Limited Ordinary Shares includes the conversion of 3,884,372 Nvni Group Limited rollover options, earn-out shares and equity plan, 4,300,363 Mercato Public Shares, 5,570,000 Mercato Class B Shares, 475,000 Maxim shares, and 1,280,000 PIPE investor shares. For details on participation percentages, please refer to the distribution to shareholders’ capital table.

Equity and Divestitures - Sch_2

Equity and Divestitures - Schedule of Adjusted Stock Split in Line with Capital (Details) - BRL (R$) shares in Thousands, R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	100%
Common Shares	31,617,370
Subscribed and Paid- In Share Capital	R$ 260685	R$ 40404
Nuvini Holdings Limited [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation		100%
Common Shares		17,818,669
Subscribed and Paid- In Share Capital		R$ 40404
Former Nuvini Stockholders (Nuvini Holdings Limited) [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	75.96%
Common Shares	24,016,662
Public Stockholders [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	0.30%
Common Shares	95,708
Mercato Founders [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	18.19%
Common Shares	5,750,000
Maxim [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	1.50%
Common Shares	475,000
PIPE Investors [Member]
Schedule of Adjusted Stock Split in Line with Capital [Line Items]
% Participation	4.05%
Common Shares	1,280,000

Equity and Divestitures - Sch_3

Equity and Divestitures - Schedule of Recognized the Following Warrant Obligations (Details) R$ in Thousands	3 Months Ended
	Dec. 31, 2023 BRL (R$)
Disclosure of classes of share capital [line items]
Beginning Balance	R$ 19817
Change in fair value	(15,353)
Ending Balance	4,464
Public Warrants [Member]
Disclosure of classes of share capital [line items]
Beginning Balance	9,887
Change in fair value	(7,660)
Ending Balance	2,227
Private Placement Warrants [Member]
Disclosure of classes of share capital [line items]
Beginning Balance	9,930
Change in fair value	(7,693)
Ending Balance	R$ 2237

Equity and Divestitures - Sch_4

Equity and Divestitures - Schedule of Company’s Non-Controlling Interests (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Mercos [Member]
Schedule of Company’s Non-Controlling Interests [Line Items]
Non-controlling interest	42.09%	42.09%
Current assets	R$ 4351	R$ 3463
Non-current assets	4,668	3,796
Current liabilities	(3,421)	(2,849)
Non-current liabilities	(5,598)
Summarized statement of profit and loss
Revenue	18,498	14,774
Expenses	(14,139)	(12,045)
Profit (loss) for the year	4,359	2,729
Profit (loss) attributable to owners of the Company	2,525	2,527
Profit (loss) attributable to the non-controlling interests	R$ 1835	R$ 202
Smart NX [Member]
Schedule of Company’s Non-Controlling Interests [Line Items]
Non-controlling interest	45%
Current assets	R$ 2396
Non-current assets	5,131
Current liabilities	(1,680)
Non-current liabilities	(5,847)
Summarized statement of profit and loss
Revenue	12,209
Expenses	(9,719)
Profit (loss) for the year	2,490
Profit (loss) attributable to owners of the Company	1,370
Profit (loss) attributable to the non-controlling interests	R$ 1121

Equity and Divestitures - Sch_5

Equity and Divestitures - Schedule of Summarized Statement of Financial Position (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Mercos [Member]
Schedule of Summarized Statement of Financial Position [Line Items]
Beginning Balance	R$ 3853
Ending Balance	3,039	3,853
Non-controlling interest arising on disposal of interest on Mercos		4,207
Share of profit for the year	4,359	202
Payment of dividends	(5,173)	(556)
Smart NX [Member]
Schedule of Summarized Statement of Financial Position [Line Items]
Beginning Balance
Ending Balance	1,290
Initial recognition	706
Share of profit for the year	2,490
Payment of dividends	R$ 1906

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Net Loss Per Share Attributable to the Ordinary Equity Holders (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Net Loss Per Share Attributable to the Ordinary Equity Holders [Abstract]
Net loss		R$ 247862	R$ 114206	R$ 77699
Weighted average shares outstanding—basic	[1]	23,090,092	17,623,570	15,986,834
Weighted average shares outstanding—diluted	[1]	23,090,092	17,623,570	15,986,834
Net loss per ordinary share—basic		R$ 10.73	R$ 6.48	R$ 4.86
Net loss per ordinary share—diluted		R$ 10.73	R$ 6.48	R$ 4.86
[1]Share data have been revised to give effect due to the recapitalization of Nvni Group Limited as explained in Note 17. Equity and divestitures.

Share-Based Compensation Plan_2

Share-Based Compensation Plan (Details) R$ / shares in Units, $ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$) R$ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 BRL (R$) R$ / shares	Dec. 31, 2021 BRL (R$) R$ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2020
Share-Based Compensation Plan [Line Items]
Share options	1,949,796		13,401,980	14,114,763	1,949,796	110,000,000
Vesting period	3 years	3 years
unexercise period	5 years	5 years
Unvested shares of acceleration percentage	50%	50%
Unvested awards of granted	50%	50%
Share-based option awards (in Brazil Real) | R$	R$ 6255		R$ 9884	R$ 3738
Fair value of share options (in Brazil Real per share) | (per share)	R$ 1763		R$ 2540		$ 11.5
Options exercisable	1,631,370		2,250,000	5,380,556	1,631,370
Weighted average remaining contractual life	3 years 6 months 21 days	3 years 6 months 21 days
Outstanding shares conversion ratio	0.145485724	0.145485724
Conversion of fully diluted amount (in Dollars) | $		$ 240,166
Diluted share (in Shares) | shares	165,079,167	165,079,167
Per share conversion ratio (in Dollars per share) | $ / shares		$ 1.454857238
Conversion ratio price per share (in Dollars per share) | $ / shares		$ 10
Equity incentive plan of ordinary shares (in Shares) | shares	1,143,650	1,143,650
Bottom of Range [Member]
Share-Based Compensation Plan [Line Items]
Fair value of share options (in Brazil Real per share) | R$ / shares				R$ 0.211
Top of Range [Member]
Share-Based Compensation Plan [Line Items]
Fair value of share options (in Brazil Real per share) | R$ / shares				R$ 1.643
Nuvini Holdings Limited [Member]
Share-Based Compensation Plan [Line Items]
Options exercisable	11,213,267				11,213,267
Nvni Group Limited [Member]
Share-Based Compensation Plan [Line Items]
Options exercisable	1,631,370				1,631,370

Share-Based Compensation Plan -

Share-Based Compensation Plan - Schedule of grant for Each Option Using the Black- Scholes Option (Details) - Black- Scholes Option Pricing Model [Member] - R$ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Fair Value of each Share Options [Line Items]
Exercise price (in Brazil Real per share)	R$ 2.32	R$ 2.32
Dividend yield	0%	0%	0%
Bottom of Range [Member]
Schedule of Fair Value of each Share Options [Line Items]
Exercise price (in Brazil Real per share)			R$ 0.5
Fair value of common share (in Brazil Real per share)	R$ 2.7	R$ 2.7	R$ 0.5
Volatility	54.90%	54.90%	52.20%
Risk-free interest rate	10.63%	10.63%	6.58%
Expected option life	5	5	4.9
Top of Range [Member]
Schedule of Fair Value of each Share Options [Line Items]
Exercise price (in Brazil Real per share)			R$ 2.32
Fair value of common share (in Brazil Real per share)	R$ 3.26	R$ 3.26	R$ 2.32
Volatility	58.40%	58.40%	55.30%
Risk-free interest rate	12.52%	12.52%	11.45%
Expected option life	7	7	7

Share-Based Compensation Plan_3

Share-Based Compensation Plan - Schedule of Number and Weighted Average Exercise Price of Share Options (Details)	12 Months Ended
	Dec. 31, 2023 R$ / shares	Dec. 31, 2022 R$ / shares	Dec. 31, 2021 R$ / shares
Share-Based Compensation Plan [Abstract]
Weighted Average Exercise Price, Outstanding at beginning (in Brazil Real per share)	R$ 1.91	R$ 1.07	R$ 0.5
Number of Options, Outstanding at beginning	13,401,980	14,114,763	110,000,000
Weighted Average Exercise Price, Outstanding at ending (in Brazil Real per share)	R$ 2.32	R$ 1.91	R$ 1.07
Number of Options, Outstanding at ending	1,949,796	13,401,980	14,114,763
Weighted Average Exercise Price, Granted during the year (in Brazil Real per share)	R$ 2.32	R$ 2.32	R$ 1.98
Number of Options, Granted during the year		10,401,980	5,420,319
Weighted Average Exercise Price, Forfeited/canceled during the year (in Brazil Real per share)	R$ 2.32	R$ 1.22	R$ 0.5
Number of Options, Forfeited/canceled during the year		(11,114,763)	(2,305,556)
Number of Options, Conversion of stock option subject to conversion ratio(i)	1,949,796
Weighted Average Exercise Price, Exercisable at the end of the year (in Brazil Real per share)	R$ 2.32	R$ 0.5	R$ 0.5
Number of Options, Exercisable at the end of the year	1,631,370	2,250,000	5,380,556

Net Operating Revenue - Schedul

Net Operating Revenue - Schedule of Net Operating Revenue (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Net Operating Revenue [Abstract]
Gross operating revenue	R$ 181725	R$ 135643	R$ 98433
Revenue deductions:
Cancellations and returns	(1,353)	(1,822)	(1,357)
Taxes on services	(11,387)	(9,276)	(7,212)
Total revenue deductions	(12,740)	(11,098)	(8,569)
Net operating revenue	R$ 168985	R$ 124545	R$ 89864

Net Operating Revenue - Sched_2

Net Operating Revenue - Schedule of Disaggregation of Net Operating Revenue (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Disaggregation of Net Operating Revenue [Line Items]
Platform subscription service	R$ 158678	R$ 114556	R$ 78547
Cancellations, returns and taxes on services	(10,692)	(9,004)	(6,780)
Revenue from platform subscription service	147,986	105,552	71,767
Data analytics service	13,422	15,644	14,457
Cancellations, returns and taxes on services	(1,478)	(1,760)	(1,491)
Revenue from data analytics service	11,944	13,884	12,966
Set-up and service	8,661	4,733	4,613
Cancellations, returns and taxes on services	(514)	(307)	(257)
Revenue from set-up and service	8,147	4,426	4,356
Other revenue	963	710	816
Cancellations, returns and taxes on services	(55)	(27)	(41)
Other revenue	908	683	775
Total net operating revenue	R$ 168985	R$ 124545	R$ 89864

Net Operating Revenue - Sched_3

Net Operating Revenue - Schedule of Contract Asset Activity (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Contract Asset Activity [Abstract]
Beginning Balance	R$ 2272	R$ 3057
Increase from business acquisitions			3,296
Decrease from transfers to accounts receivable	(2,272)	(3,057)	(877)
Increase from changes based on work in progress	4,862	2,272	638
Ending Balance	R$ 4862	R$ 2272	R$ 3057

Net Operating Revenue - Sched_4

Net Operating Revenue - Schedule of Deferred Revenue Activity (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Deferred Revenue Activity [Abstract]
Balance beginning	R$ 3821	R$ 4368	R$ 38
Increase from business acquisitions			5,512
Increase in deferred revenue in the current year	9,845	9,566	9,658
Revenue recognized during the current year	(10,521)	(10,113)	(10,840)
Balance ending	R$ 3145	R$ 3821	R$ 4368

Cost and Expenses by Nature (De

Cost and Expenses by Nature (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)
Cost and Expenses by Nature [Abstract]
Non cash expense	R$ 176282

Cost and Expenses by Nature - S

Cost and Expenses by Nature - Schedule of Operating Costs and Expenses by Nature (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of operating costs and expenses by nature [Abstract]
Payroll		R$ 90182	R$ 83042	R$ 57026
Third-party services and others		(24,106)	(22,383)	(19,781)
Business and marketing expenses		(7,484)	(6,441)	(8,098)
Depreciation		(1,050)	(1,810)	(1,071)
Amortization		(17,600)	(15,424)	(12,507)
Impairment of goodwill		(11,373)	(86,897)	(6,758)
Other operating income (expenses), net		17,597	182	12
Audit and consulting		(38,660)	(4,430)	(5,574)
Other administrative expenses		(7,464)	(1,771)	(1,758)
Provisions		1,515	1,953	(8,676)
Fair value of derivative warrant liabilities		14,507
Listing expense	[1]	(176,282)
Research and development expenses			(8)	(54)
Total		(358,179)	(220,245)	(121,249)
Cost of services provided		(66,138)	(52,813)	(35,833)
Sales and marketing expenses		(28,827)	(27,370)	(22,597)
General and administrative expenses		R$ 93156	R$ 53339	R$ 56019
[1]Listing Expense The SPAC merger was accounted for as a capital reorganization with Nvni Group Limited determined to be the accounting acquirer of Mercato. Mercato does not meet the definition of a “business” pursuant to IFRS 3 Business Combinations, and therefore the Business Combination is expected to be considered a capital transaction and shall be accounted for as a share-based payment transaction under IFRS 2 Share-Based Payments, whereby Nvni Group Limited will issue shares for Mercato’s net assets. Under this method of accounting, the acquisition of Mercato will be stated at historical cost, with no goodwill or other intangible assets recorded. Accordingly, the Group recorded a one-time non-cash expense of R$(176,282). In accordance with IFRS 2, the expense represents the cost incurred in connection with achieving a listing on the Nasdaq Global Market (the “Listing Expense”). The expense is calculated as the difference between the fair value of the equity instruments issued to acquire Mercato and the fair value of the identifiable net assets acquired, as noted below:

Cost and Expenses by Nature -_2

Cost and Expenses by Nature - Schedule of Fair Value of the Identifiable Net Assets Acquired (Details) - Mercato [Member] R$ in Thousands	Dec. 31, 2023 BRL (R$)
Summary of Fair Value of the Identifiable Net Assets Acquired [Line Items]
Fair value of equity instruments issued to acquire Mercato	R$ 275555
Net assets of Mercato	162,862
Less: Mercato’s transaction costs	(63,589)
Adjusted net assets/(liabilities) of Mercato	99,273
IFRS 2 charge for listing services	R$ 176282

Financial Income and Expense,_3

Financial Income and Expense, Net - Schedule of Financial Income and Expense, Net (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial income:
Income on financial investments(i)	[1]	R$ 328	R$ 209	R$ 356
Interest income		799	638	211
Discounts obtained		15	42	11
Mercos deferred and contingent consideration adjustment			16,029
Subscription rights fair value adjustment		3,933
Exchange variation (foreign exchange profit)		2,096
Total		7,171	16,918	578
Financial Expenses:
Contingent consideration fair value adjustments		(40,535)	(16,294)	(32,365)
Interest on loans, financing and debentures		(12,985)	(12,425)	(5,513)
Subscription rights fair value adjustment			(1,334)	(2,619)
Other interest and expense		(6,579)	(3,388)	(1,747)
Exchange variation (foreign exchange losses)		(95)	(111)	(68)
Exposure premium expense		(2,087)	(96)	(745)
Total		(62,281)	(33,648)	(43,057)
Financial income and expense, net		R$ 55110	R$ 16730	R$ 42479
[1]The increase in the fair value adjustment of contingent consideration as of December 31, 2023, is due to the remeasurement of the contingent consideration, driven by higher revenue and interest recorded in 2023 compared to 2022.

Income Tax (Details)

Income Tax (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax (Details) [Line Items]
Combined tax rate	34%
Taxable income percentage	30%
Total tax losses	R$ 124730	R$ 78573	R$ 30397
Deferred tax liabilities	3,145	3,820
Book and Tax Differences [Member]
Income Tax (Details) [Line Items]
Deferred tax liabilities	R$ 44566	R$ 45838

Income Tax - Schedule of Income

Income Tax - Schedule of Income Tax recorded in Income (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Income Tax Recorded In Income [Abstract]
Loss before income tax		R$ 244304	R$ 112430	R$ 73864
Income tax credit at the combined rate of 34%		83,063	38,226	25,114
Adjustments for the demonstration of the effective rate:
Non-deductible expenses		385	(34)	(112)
Presumed income tax calculation effect	[1]		(200)	(4,230)
Unrecognized tax loss carryforwards and temporary differences	[2]	(97,273)	(44,790)	(28,745)
Deferred tax liability expenses from identifiable assets acquired of businesses		5,072	5,635	3,956
Research and development tax benefit		3,247
Other		1,948	(613)	182
Income tax recorded in the income for the year		(3,558)	(1,776)	(3,835)
Current tax		(9,751)	(5,769)	(7,791)
Deferred tax		R$ 6193	R$ 3993	R$ 3956
Effective tax rate		1.46%	1.58%	5.19%
[1]As described in note 3, the taxation under Brazilian Tax Law allows certain companies to calculate income taxes as a percentage of gross revenue, using the presumed income tax regime. The effect of the presumed income tax of certain subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the regular income tax rate applied to the taxable profit of the subsidiaries.[2]The Company has not recorded a deferred tax asset on tax loss carryforwards and temporary differences as the Company does not expect to realize these tax benefits in the foreseeable future. Tax losses may be carried forward indefinitely, though the amount of the carryforward that can be utilized is limited to 30% of taxable income in each carryforward year. As of December 31, 2023, 2022 and 2021, the Group had total tax losses of R$124,730, R$78,573 and R$30,397, respectively.

Income Tax - Schedule of Inco_2

Income Tax - Schedule of Income Tax recorded in Income (Parentheticals) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Income Tax Recorded In Income [Abstract]
Combined rate	34%	34%	34%

Segment Information (Details)

Segment Information (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Information [Line Items]
Geographic locations	one
Percentage of Net Revenue	10%
Brazil [Member]
Segment Information [Line Items]
Percentage of Net Revenue	100%	100%	100%

Supplementary Items to the Ca_3

Supplementary Items to the Cash Flow - Schedule of Non-Cash Transactions (Details) - Non-Cash Transactions [Member] - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business combination:
Trade accounts receivable, net			R$ 7809
Other current assets			1,735
Property and equipment, net			1,735
Right-of-use assets, net			1,058
Intangible Assets			125,802
Goodwill			237,787
Accounts payable to suppliers			(7,808)
Salaries and labor charges			(4,127)
Loans and financing			(3,994)
Lease liability			(1,058)
Taxes, fees and contributions payable			(3,253)
Deferred taxes			(40,730)
Deferred and contingent consideration on acquisitions			(282,205)
Other current liabilities			(10,100)
Provisions for risks			(22,651)
Capital increase through the payment of subscription rights:
Capital reserves	2,000
Share capital	33,910
Subscription rights	(35,410)
Loans from investors	(300)
Loan premium	(200)
Conversion of deferred and contingent consideration to capital shares:
Deferred and contingent consideration	(64,255)
Capital reserve	64,255
Recognition of lease right-of-use asset in exchange for lease liabilities:
Right-of-use assets, net	768
Lease liability	(768)
Capitalization of related party loans:
Related party			3,201
Share capital			(3,201)
Capital reduction through the payment of subscription rights:
Capital reserve			1,500
Related party			(1,500)
Creation of non-controlling interest at Mercos:
Deferred and contingent consideration		46,717
Capital reserve		(42,510)
Non-controlling interest		(4,207)
Conversion of subscription rights to capital shares:
Capital reserve		(1,500)
Share capital		1,500
Right-of-Use Asset [Member]
Recognition of lease right-of-use asset in exchange for lease liabilities:
Right-of-use assets, net			1,972
Lease liability			(1,972)
Smart NX [Member]
Business combination:
Cash and cash equivalents	998
Trade accounts receivable, net	3,061
Other current assets	5,545
Other non-current assets	1,204
Property and equipment, net	172
Right-of-use assets, net	107
Intangible Assets	6,201
Goodwill	15,960
Accounts payable to suppliers	(894)
Salaries and labor charges	(776)
Loans and financing	(40)
Lease liability	(118)
Taxes, fees and contributions payable	(940)
Deferred taxes	(2,421)
Deferred and contingent consideration on acquisitions	(26,848)
Other current liabilities	R$ 1211

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)				1 Months Ended	12 Months Ended
	Nov. 07, 2024	Nov. 01, 2024	Jan. 15, 2024	Nov. 17, 2024	Dec. 31, 2023	Jan. 27, 2022	Sep. 29, 2021
Subsequent Events [Line Items]
Number of consecutive business days					10 days
Interest rate						100%	3%
Purchase price percentage					120%
Sale price of ordinary shares					$ 5
Number of trading days					30 days
Forecast [Member]
Subsequent Events [Line Items]
Number of consecutive business days		30 days
Convertible Promissory Notes [Member] | Forecast [Member]
Subsequent Events [Line Items]
Conversion price		$ 1.1
Maturity period		12 months
Interest rate		5%
Convertible Promissory Notes [Member] | Bottom of Range [Member] | Forecast [Member]
Subsequent Events [Line Items]
Principal amount (in Dollars)		$ 2,900,000
Convertible Promissory Notes [Member] | Top of Range [Member] | Forecast [Member]
Subsequent Events [Line Items]
Principal amount (in Dollars)		$ 5,000,000
PIPE Investors [Member] | Subsequent Events [Member]
Subsequent Events [Line Items]
Number of shares purchased (in Shares)			1,358,824
Conversion price			$ 1.7
Investment amount (in Dollars)			$ 2,310,000
PIPE Investors [Member] | Forecast [Member]
Subsequent Events [Line Items]
Number of shares purchased (in Shares)	1,213,714			1,213,714
Conversion price	$ 0.7573			$ 0.7573
Investment amount (in Dollars)	$ 919,158			$ 919,158
Private Placement [Member] | Forecast [Member]
Subsequent Events [Line Items]
Sale of shares in private placement (in Shares)		766,957
Gross proceeds (in Dollars)		$ 580,824
Purchase price per share.		$ 0.75
Ordinary Shares [Member]
Subsequent Events [Line Items]
Bid price per share					$ 1
Number of trading days					20 days
Ordinary Shares [Member] | Forecast [Member]
Subsequent Events [Line Items]
Minimum bid price per share		$ 1

Correction of Immaterial Erro_3

Correction of Immaterial Errors (Details)	Dec. 31, 2023 USD ($)
previously reported [Member]
Correction of Immaterial Errors (Details) [Line Items]
Addition paid in capital	$ 430,268
As adjusted [Member]
Correction of Immaterial Errors (Details) [Line Items]
Addition paid in capital	$ 260,685

Correction of Immaterial Erro_4

Correction of Immaterial Errors - Schedule of Cash Flow Statement (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)
As previously reported [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Loss before income tax	R$ 247862
Taxes on provisions	(12,389)
Taxes and fees	(767)
Income taxes paid	9,624
Adjustments [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Loss before income tax	3,558
Taxes on provisions	12,389
Taxes and fees	3,301
Income taxes paid	(19,248)
As adjusted [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Loss before income tax	(244,304)
Taxes on provisions
Taxes and fees	2,534
Income taxes paid	R$ 9624