Por favor verifica tu e-mail para tener acceso completo al Hub haciendo click al link enviado a youremail@gmail.com
Reenviar correo de verificación
💣 Viene la cita más poderosa con toda la cadena de pagos digitales de Latam. Reserva tu cupo a la Paytech Conf 2024

Brazilian Fintech Asaas raises US$20.9M to transform the financial management of companies

June 21, 2023
Por
Pedro Arbex
Pedro Arbex
Reporter at Brazil Journal
📷
Economia SC
Asaas - a fintech that offers a PJ account with payment management and ERP for small and medium enterprises - has just raised R$100 million to accelerate its growth
Contenido para Usuarios 🔒

The goal: to invoice R$ 1 billion in 2025 with more than 1 million clients in the base. The startup should close this year with revenues of R$ 230 million and 200 thousand companies as clients.

The round - an extension of the 2020 Series B - was basically done by investors who were already on the cap table: Inovabra, Bradesco's venture capital manager; Parallax Ventures; Light Capital Group; and Escala. The only new investor is TM3 Capital, a venture capital manager from the South

The capital injection will strengthen Asaas' balance sheet so that it can accelerate its growth. Co-founder Piero Contezini told Brazil Journal that the startup is nearing the regulatory limit required by the Central Bank and without the new funds it would have to slow its pace of growth.

The Central Bank requires payment institutions to have a net worth equivalent to 100% of customer account deposits, plus a surplus that averages 2% of the last twelve months' TPV.  "That 'leftover' was all we had of available balance sheet. So we would have to start reducing our growth in order not to exceed that," said the founder.

The Central Bank requires payment institutions to have a net worth equivalent to 100% of customer account deposits, plus a surplus that, on average, is 2% of the last twelve months' TPV.

"That 'leftover' was all we had on our available balance sheet. So we would have to start reducing our growth in order not to exceed that," the founder said.

According to Piero, Asaas has been generating cash for years and has no need for capital to sustain the operation. Founded by Piero and his brother, Diego, Asaas was born within their former company - a software house called Informant, sold in 2014.

At the time, they created software that automated the collection of boletos from companies - sending emails to the end customer, text messages, and voice bot calls. When Informant was sold, the Contezini's spinoff of that software led to Asaas.

Since then, they have started to add new services to the platform, such as digital accounts, prepaid cards, receivables anticipation, and ERP and CRM software. Asaas does not charge for the software: its revenue comes from a commission of about 1% on the volume transacted by clients.

According to Piero, the company's core product is still the software that helps companies receive payment, making preventive collection.  "It understands the pattern of each buyer and allows us to deliver a much higher compliance rate. In digital channels, we have been able to decrease the average default rate by 50%.

When we use the voice bot to make the calls, we decrease it by another 20%." Typically, Asaas' software starts collecting boletos about 30 days before the due date. The addition of new products was a way to build more customer loyalty by retaining them within the platform, says the founder.  

"The logic is to help receive and send money and take credit, putting on top a management layer, with ERP and CRM. Our goal is that our customers no longer need a bank or management software. That they find everything with us," said Piero.

To reach the goal of 1 million customers, Piero said Asaas has been investing heavily in digital media and has more recently started to invest in offline media, within a brand awareness strategy. Another strategy is to ship the product to other companies in a banking as a service model.  

Asaas already has 300 companies using its BaaS service, mainly technology companies that have some synergy with the business. There is everything from a software company for dentists, which uses Asaas to offer a billing solution to its customers, to a marketplace for day laborers.

In B2C, the founder says Asaas has been stealing customers mainly from bankers and digital banks like Inter and Nubank, which have PJ accounts.  According to him, Asaas' churn is very low, and 70% of the churn is from companies that have broken up. The remaining 30% is from customers who migrated their account to the banks in return for a credit concession they got there.

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.

The goal: to invoice R$ 1 billion in 2025 with more than 1 million clients in the base. The startup should close this year with revenues of R$ 230 million and 200 thousand companies as clients.

The round - an extension of the 2020 Series B - was basically done by investors who were already on the cap table: Inovabra, Bradesco's venture capital manager; Parallax Ventures; Light Capital Group; and Escala. The only new investor is TM3 Capital, a venture capital manager from the South

The capital injection will strengthen Asaas' balance sheet so that it can accelerate its growth. Co-founder Piero Contezini told Brazil Journal that the startup is nearing the regulatory limit required by the Central Bank and without the new funds it would have to slow its pace of growth.

The Central Bank requires payment institutions to have a net worth equivalent to 100% of customer account deposits, plus a surplus that averages 2% of the last twelve months' TPV.  "That 'leftover' was all we had of available balance sheet. So we would have to start reducing our growth in order not to exceed that," said the founder.

The Central Bank requires payment institutions to have a net worth equivalent to 100% of customer account deposits, plus a surplus that, on average, is 2% of the last twelve months' TPV.

"That 'leftover' was all we had on our available balance sheet. So we would have to start reducing our growth in order not to exceed that," the founder said.

According to Piero, Asaas has been generating cash for years and has no need for capital to sustain the operation. Founded by Piero and his brother, Diego, Asaas was born within their former company - a software house called Informant, sold in 2014.

At the time, they created software that automated the collection of boletos from companies - sending emails to the end customer, text messages, and voice bot calls. When Informant was sold, the Contezini's spinoff of that software led to Asaas.

Since then, they have started to add new services to the platform, such as digital accounts, prepaid cards, receivables anticipation, and ERP and CRM software. Asaas does not charge for the software: its revenue comes from a commission of about 1% on the volume transacted by clients.

According to Piero, the company's core product is still the software that helps companies receive payment, making preventive collection.  "It understands the pattern of each buyer and allows us to deliver a much higher compliance rate. In digital channels, we have been able to decrease the average default rate by 50%.

When we use the voice bot to make the calls, we decrease it by another 20%." Typically, Asaas' software starts collecting boletos about 30 days before the due date. The addition of new products was a way to build more customer loyalty by retaining them within the platform, says the founder.  

"The logic is to help receive and send money and take credit, putting on top a management layer, with ERP and CRM. Our goal is that our customers no longer need a bank or management software. That they find everything with us," said Piero.

To reach the goal of 1 million customers, Piero said Asaas has been investing heavily in digital media and has more recently started to invest in offline media, within a brand awareness strategy. Another strategy is to ship the product to other companies in a banking as a service model.  

Asaas already has 300 companies using its BaaS service, mainly technology companies that have some synergy with the business. There is everything from a software company for dentists, which uses Asaas to offer a billing solution to its customers, to a marketplace for day laborers.

In B2C, the founder says Asaas has been stealing customers mainly from bankers and digital banks like Inter and Nubank, which have PJ accounts.  According to him, Asaas' churn is very low, and 70% of the churn is from companies that have broken up. The remaining 30% is from customers who migrated their account to the banks in return for a credit concession they got there.

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.

Este contenido es solo para
usuarios Prime 👑 del Hub.

Hacer upgrade ▸
Apoyado por:
Contacta al equipo
Hub Ranking:
#
País de origen:
Headquarters:
Joinville, Santa Catarina
Monto inversión:
M
Ronda financiación:
Más novedades

Fintechs en
tendencia del Hub

No items found.

Brasil 🇧🇷

Ecosistema Fintech

Más Insights

Por
Simetrik
Simetrik
We are No-code SaaS tool for financial control automation. Automate, scale and optimize financial operations.
Paytech 💳

Nuestra comunidad

WHATSAPP
✨ Nuevo!
Tenemos un canal de Whatsapp donde contamos todos los movimientos en la industria.
Usuario pRIME 👑
Acceso ilimitado. Desbloquee la cobertura exclusiva, entrevistas con CEOs, eventos especiales y más.
Activar suscripción
RESUMEN SEMANAL
Todas las semanas envíamos a tu email un resumen con todos los avances en el ecosistema Fintech.
Abrir el Blueprint
Grupo de SLACK
Tenemos un grupo de Slack con todos los miembros registrados del Hub para que sigamos conversando.
uNIRSE AL GRUPO