Brazil’s Serpro surges past revenue targets, expands global digital ID partnerships
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# Brazil’s Serpro surges past revenue targets, expands global digital ID partnerships
Nov 17, 2025, 12:13 pm EST | Lu-Hai Liang
Categories Biometrics News | Trade Notes
Brazil’s Serpro is celebrating its wins as the company exceeds expectations this year, with major agreements signed with the country’s cruise industry and the London Stock Exchange.
Serpro is expanding its business overseas as the state-owned firm nears 400 contracts outside Brazil. “Today, Serpro operates in 48 countries across five continents, and the potential for growth keeps increasing,” Juliana Braz, Serpro’s International Markets Manager, said at Web Summit Lisbon 2025.
Braz revealed that Serpro’s goal was to reach US$3.4 million in revenue in 2025, but by the end of October had already reached $4.8 million. The strong performance is down to strategically targeting opportunities in Africa and Latin America, among the private sector and foreign governments, as they look to deliver better public services.
Braz cited a contract signed with the Angolan government in February, for on-demand consultancy services, with the agreement worth a total value up to $1 million, as an example. In July, Serpro signed a contract with the London Stock Exchange Group (LSEG) to provide CPF Query and CNPJ Query APIs, to bolster digital identity verification. Serpro is also developing a new digital platform for the country’s cruise tourism industry, designed to streamline boarding for passengers and crew members with biometrics.
LSEG, which owns the London Stock Exchange, employs the Brazilian APIs to strengthen its identity verification systems. CPF (Cadastro de Pessoas Físicas) is Brazil’s individual taxpayer identification number — similar to the Social Security Number in the U.S — while the CNPJ (Cadastro Nacional da Pessoa Jurídica) has a similar function for legal entities, serving as the national business registration number.
“As the government entity responsible for over 200 million CPF records and o