Brazilian company Omie buys credit Fintech Ergoncredit and aims to originate US$94.4M

August 4, 2022
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Management software company for the SME segment takes another step to advance in the ecosystem and reach out to its customers' customers and suppliers.

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When it received the R$580 million check from Softbank in the second half of 2021, Omie made it clear that it would make acquisitions to complement its capabilities to serve Small and Medium Enterprises (SMEs). "We are in a huge market of millions of SMEs and 80% of the customers that come here came from no management software," Marcelo Lombardo, founder and CEO of Omie, tells NeoFeed.

Lombardo goes further and says that the company's "big competitor in the market is its inability to move faster." Because of this, Omie accelerated and, in less than a year, acquired five companies: besides Mintegra, bought before the investment, it brought Devi Tecnologia, G-Click, Linker, and Conpass. Now, another one enters its portfolio.

Omie revealed to NeoFeed that it has bought Ergoncredit, which will act as its credit engine. The deal went through six months ago, but until then, the business had been testing in-house. "We brought the whole platform from Ergoncredit and integrated it into Omie's base," Lombardo says. "Every receivable, every CNPJ, customer of customer, vendor of customer, is being scanned in real time."

Omie's customers alone issue about $16 billion worth of invoices per month. In addition, the company has information such as bank account statements, customer and supplier customer compliance history, and stock level. "Everything that ERP contemplates," says Lombardo.

"We will model this engine with our funding partners and offer credit," says Lombardo. "Nobody knows how to use data to give credit, so we're going to do this modeling in a leisurely fashion, together with them." Partners include CDP Capital, which works with FIDCs, and others that are negotiating with the software company.

Today, Omie has only R$5 million in its portfolio and the goal is to reach R$500 million in 12 months. "We started slowly with anticipation of receivables," says Lombardo. Now, the company is testing clean credit at rates that vary between 1.5% and 3% per month. Ergoncredit's operation is key in the company's new strategy of creating an ecosystem that embraces your client, your client's client, and your client's supplier.

The entrepreneur says that each of the company's clients points to 116 other unique CNPJs. Precisely because of this, Omie is launching a portal, which will also act as a funnel mouth, to bring in all these players. "Every month, we send millions of e-mails with boletos, electronic invoices," says Lombardo. "From now on, they will no longer come with attachments, but with a link to the portal.

In the portal, which until now has been working in beta format, everyone will have access to tax documents and collection tools and features such as anti-fraud management of boletos, Pix, among others. "Everything that Arquivei charges you, I will give away for free," says Lombardo about the tax document analysis and management startup.

With this, Omie users' clients will have at their disposal a dashboard to query and manage the status of all documents. "My client's client will be able to finance right there. And we help our client grow without them having to take risks," says Lombardo.

The goal is to reach 2 million CNPJs by the end of the year. And Lombardo says that the challenge is to grow at the speed of a fintech monetizing as a SasS platform (Software as a Service). In other words, with recurrence. "We identified that it had a huge network effect potential," he says. The company's estimate is to have 1 million recurring customers by 2025.

Accelerated pace

In June, Omie, an ERP company focused on SMBs, celebrated a milestone in its trajectory. The company reached 100 thousand clients, who spend, on average, R$ 350.00 per month. "We are gaining an average of 6,000 new customers per month," says Lombardo. "It has a lot of room to grow. It's a market we estimate at 4 million CNPJs."

Although Lombardo stresses that the market is practically a blue ocean, more and more players are entering this segment aimed at SMEs. Totvs, a giant in the ERP area, has an area focused on this universe. Stone, after buying Linx, plunged even further into the strategy of offering management tools for small and medium-sized companies.

Digital banks are also focusing on this type of service. BS2, for example, has changed its entire operation, leaving individuals to operate only in the corporate market. And players such as BTG Pactual, Original, Inter, and Itaú are strengthening these arms. Itaú, by the way, launched a platform called Itaú My Business in which Omie is one of the partners.

Recently, in a presentation to some assets in an investment bank, Lombardo received the following question from a manager. "Due to the crisis, have you felt a decrease in demand in the last three months?". To which Lombardo replied. "What demand? I don't have demand, I dig my opportunities."

Omie's business model is based, above all, on partnerships with accountants who refer their clients. "When we call them and tell them that their accountant said they need management software, many of them say they don't need it," says Lombardo. "Having people to do stock spreadsheets, accounts receivable, making invoices by hand, this is not normal. Our fight is to show that it has a solution and it's affordable."

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

When it received the R$580 million check from Softbank in the second half of 2021, Omie made it clear that it would make acquisitions to complement its capabilities to serve Small and Medium Enterprises (SMEs). "We are in a huge market of millions of SMEs and 80% of the customers that come here came from no management software," Marcelo Lombardo, founder and CEO of Omie, tells NeoFeed.

Lombardo goes further and says that the company's "big competitor in the market is its inability to move faster." Because of this, Omie accelerated and, in less than a year, acquired five companies: besides Mintegra, bought before the investment, it brought Devi Tecnologia, G-Click, Linker, and Conpass. Now, another one enters its portfolio.

Omie revealed to NeoFeed that it has bought Ergoncredit, which will act as its credit engine. The deal went through six months ago, but until then, the business had been testing in-house. "We brought the whole platform from Ergoncredit and integrated it into Omie's base," Lombardo says. "Every receivable, every CNPJ, customer of customer, vendor of customer, is being scanned in real time."

Omie's customers alone issue about $16 billion worth of invoices per month. In addition, the company has information such as bank account statements, customer and supplier customer compliance history, and stock level. "Everything that ERP contemplates," says Lombardo.

"We will model this engine with our funding partners and offer credit," says Lombardo. "Nobody knows how to use data to give credit, so we're going to do this modeling in a leisurely fashion, together with them." Partners include CDP Capital, which works with FIDCs, and others that are negotiating with the software company.

Today, Omie has only R$5 million in its portfolio and the goal is to reach R$500 million in 12 months. "We started slowly with anticipation of receivables," says Lombardo. Now, the company is testing clean credit at rates that vary between 1.5% and 3% per month. Ergoncredit's operation is key in the company's new strategy of creating an ecosystem that embraces your client, your client's client, and your client's supplier.

The entrepreneur says that each of the company's clients points to 116 other unique CNPJs. Precisely because of this, Omie is launching a portal, which will also act as a funnel mouth, to bring in all these players. "Every month, we send millions of e-mails with boletos, electronic invoices," says Lombardo. "From now on, they will no longer come with attachments, but with a link to the portal.

In the portal, which until now has been working in beta format, everyone will have access to tax documents and collection tools and features such as anti-fraud management of boletos, Pix, among others. "Everything that Arquivei charges you, I will give away for free," says Lombardo about the tax document analysis and management startup.

With this, Omie users' clients will have at their disposal a dashboard to query and manage the status of all documents. "My client's client will be able to finance right there. And we help our client grow without them having to take risks," says Lombardo.

The goal is to reach 2 million CNPJs by the end of the year. And Lombardo says that the challenge is to grow at the speed of a fintech monetizing as a SasS platform (Software as a Service). In other words, with recurrence. "We identified that it had a huge network effect potential," he says. The company's estimate is to have 1 million recurring customers by 2025.

Accelerated pace

In June, Omie, an ERP company focused on SMBs, celebrated a milestone in its trajectory. The company reached 100 thousand clients, who spend, on average, R$ 350.00 per month. "We are gaining an average of 6,000 new customers per month," says Lombardo. "It has a lot of room to grow. It's a market we estimate at 4 million CNPJs."

Although Lombardo stresses that the market is practically a blue ocean, more and more players are entering this segment aimed at SMEs. Totvs, a giant in the ERP area, has an area focused on this universe. Stone, after buying Linx, plunged even further into the strategy of offering management tools for small and medium-sized companies.

Digital banks are also focusing on this type of service. BS2, for example, has changed its entire operation, leaving individuals to operate only in the corporate market. And players such as BTG Pactual, Original, Inter, and Itaú are strengthening these arms. Itaú, by the way, launched a platform called Itaú My Business in which Omie is one of the partners.

Recently, in a presentation to some assets in an investment bank, Lombardo received the following question from a manager. "Due to the crisis, have you felt a decrease in demand in the last three months?". To which Lombardo replied. "What demand? I don't have demand, I dig my opportunities."

Omie's business model is based, above all, on partnerships with accountants who refer their clients. "When we call them and tell them that their accountant said they need management software, many of them say they don't need it," says Lombardo. "Having people to do stock spreadsheets, accounts receivable, making invoices by hand, this is not normal. Our fight is to show that it has a solution and it's affordable."

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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