Born in 2016 with the intention of being the "Lego" behind the financial services of digital banks and fintechs, Celcoin, which has already received investments from BTG Pactual, Vox Capital, Innova Capital, and Torq Ventures, is adding another piece to its financial technology and banking infrastructure product offering on Tuesday, February 14.
"With Finansystech, we move forward in the consolidation process in this financial services infrastructure segment, complementing our open finance vertical," Marcelo França, cofounder and CEO of Celcoin, tells NeoFeed exclusively.
The transaction, which valued Finansystech at R$85 million (pre-money), provides for an initial payment of R$15 million in cash. Then, there is an earn-out amount to Finansystech's founders that takes into account the revenue multiples of the next two years, which will be paid in cash and shares. With this, the value may even be higher if the goals are met.
The agreement provides that Danillo Branco, CEO and co-founder of Finansystech, will now lead the open finance vertical at Celcoin. The 35 employees will start working at Celcoin, while the brand will be kept in a first moment, because of its recognition in the market.
Founded in 2021, Finansystech has developed solutions that connect financial institutions that are licensed to operate in open finance. With this, companies do not need to develop the necessary infrastructure, and can hire the tools to operate services such as payments, data sharing, and consent management of this information.
Finansystech's solutions come to complement Celcoin's portfolio. As an institution regulated by the Central Bank to operate in open finance, the fintech currently acts as a kind of intermediary. It enables companies not regulated by the Central Bank to initiate payments or share data within the open finance environment.
"Now we will be able to serve both companies that want to participate in open finance by connecting directly, and companies that want to use our licenses to initiate payments and share data," says França. "Any company will be able to participate in open finance using our combined solution."
França says that talks with Finansystech began in mid-2022, following the business partnership signed in the second quarter of that year, which allowed Celcoin to provide the infrastructure for its customers to access open finance.
Finansystech's solutions are used by more than 40 customers. Among them, XP, Magalu, and Banco Mercantil. Of the payment initiators already approved in Brazil, 35% are served by the company, and 70% of the company's customers already use other Celcoin services.
The expectation is that the union can also generate new business among the customers of both. "We intend to use our entire structure, sales force, cross sell, to accelerate the growth of Finansystech," says França.
Allied with other verticals, such as the banking as a service (BaaS) APIs and Pix, the open finance part should contribute to Celcoin's operational leap. The company expects to close 2023 with R$12 billion per month in financial transactions, double the current monthly amount.
The reinforcement of the open finance vertical comes at a time when the Central Bank initiative is starting to gain traction in Brazil. With two years completed in early February, it already registers 17.3 million consents from customers to share their data, according to a survey by the Brazilian Federation of Banks (Febraban).
With the potential to inject R$760 billion in credit granting in ten years, according to a study released by Serasa Experian in April 2022, the possibilities for financial institutions are enormous.
And with more companies eyeing open finance, an increasing number will need technological support to be able to benefit from the initiative, an opportunity for companies like Celcoin and its competitors such as Klavi and Sensedia.
Born in 2016 with the intention of being the "Lego" behind the financial services of digital banks and fintechs, Celcoin, which has already received investments from BTG Pactual, Vox Capital, Innova Capital, and Torq Ventures, is adding another piece to its financial technology and banking infrastructure product offering on Tuesday, February 14.
"With Finansystech, we move forward in the consolidation process in this financial services infrastructure segment, complementing our open finance vertical," Marcelo França, cofounder and CEO of Celcoin, tells NeoFeed exclusively.
The transaction, which valued Finansystech at R$85 million (pre-money), provides for an initial payment of R$15 million in cash. Then, there is an earn-out amount to Finansystech's founders that takes into account the revenue multiples of the next two years, which will be paid in cash and shares. With this, the value may even be higher if the goals are met.
The agreement provides that Danillo Branco, CEO and co-founder of Finansystech, will now lead the open finance vertical at Celcoin. The 35 employees will start working at Celcoin, while the brand will be kept in a first moment, because of its recognition in the market.
Founded in 2021, Finansystech has developed solutions that connect financial institutions that are licensed to operate in open finance. With this, companies do not need to develop the necessary infrastructure, and can hire the tools to operate services such as payments, data sharing, and consent management of this information.
Finansystech's solutions come to complement Celcoin's portfolio. As an institution regulated by the Central Bank to operate in open finance, the fintech currently acts as a kind of intermediary. It enables companies not regulated by the Central Bank to initiate payments or share data within the open finance environment.
"Now we will be able to serve both companies that want to participate in open finance by connecting directly, and companies that want to use our licenses to initiate payments and share data," says França. "Any company will be able to participate in open finance using our combined solution."
França says that talks with Finansystech began in mid-2022, following the business partnership signed in the second quarter of that year, which allowed Celcoin to provide the infrastructure for its customers to access open finance.
Finansystech's solutions are used by more than 40 customers. Among them, XP, Magalu, and Banco Mercantil. Of the payment initiators already approved in Brazil, 35% are served by the company, and 70% of the company's customers already use other Celcoin services.
The expectation is that the union can also generate new business among the customers of both. "We intend to use our entire structure, sales force, cross sell, to accelerate the growth of Finansystech," says França.
Allied with other verticals, such as the banking as a service (BaaS) APIs and Pix, the open finance part should contribute to Celcoin's operational leap. The company expects to close 2023 with R$12 billion per month in financial transactions, double the current monthly amount.
The reinforcement of the open finance vertical comes at a time when the Central Bank initiative is starting to gain traction in Brazil. With two years completed in early February, it already registers 17.3 million consents from customers to share their data, according to a survey by the Brazilian Federation of Banks (Febraban).
With the potential to inject R$760 billion in credit granting in ten years, according to a study released by Serasa Experian in April 2022, the possibilities for financial institutions are enormous.
And with more companies eyeing open finance, an increasing number will need technological support to be able to benefit from the initiative, an opportunity for companies like Celcoin and its competitors such as Klavi and Sensedia.
Born in 2016 with the intention of being the "Lego" behind the financial services of digital banks and fintechs, Celcoin, which has already received investments from BTG Pactual, Vox Capital, Innova Capital, and Torq Ventures, is adding another piece to its financial technology and banking infrastructure product offering on Tuesday, February 14.
"With Finansystech, we move forward in the consolidation process in this financial services infrastructure segment, complementing our open finance vertical," Marcelo França, cofounder and CEO of Celcoin, tells NeoFeed exclusively.
The transaction, which valued Finansystech at R$85 million (pre-money), provides for an initial payment of R$15 million in cash. Then, there is an earn-out amount to Finansystech's founders that takes into account the revenue multiples of the next two years, which will be paid in cash and shares. With this, the value may even be higher if the goals are met.
The agreement provides that Danillo Branco, CEO and co-founder of Finansystech, will now lead the open finance vertical at Celcoin. The 35 employees will start working at Celcoin, while the brand will be kept in a first moment, because of its recognition in the market.
Founded in 2021, Finansystech has developed solutions that connect financial institutions that are licensed to operate in open finance. With this, companies do not need to develop the necessary infrastructure, and can hire the tools to operate services such as payments, data sharing, and consent management of this information.
Finansystech's solutions come to complement Celcoin's portfolio. As an institution regulated by the Central Bank to operate in open finance, the fintech currently acts as a kind of intermediary. It enables companies not regulated by the Central Bank to initiate payments or share data within the open finance environment.
"Now we will be able to serve both companies that want to participate in open finance by connecting directly, and companies that want to use our licenses to initiate payments and share data," says França. "Any company will be able to participate in open finance using our combined solution."
França says that talks with Finansystech began in mid-2022, following the business partnership signed in the second quarter of that year, which allowed Celcoin to provide the infrastructure for its customers to access open finance.
Finansystech's solutions are used by more than 40 customers. Among them, XP, Magalu, and Banco Mercantil. Of the payment initiators already approved in Brazil, 35% are served by the company, and 70% of the company's customers already use other Celcoin services.
The expectation is that the union can also generate new business among the customers of both. "We intend to use our entire structure, sales force, cross sell, to accelerate the growth of Finansystech," says França.
Allied with other verticals, such as the banking as a service (BaaS) APIs and Pix, the open finance part should contribute to Celcoin's operational leap. The company expects to close 2023 with R$12 billion per month in financial transactions, double the current monthly amount.
The reinforcement of the open finance vertical comes at a time when the Central Bank initiative is starting to gain traction in Brazil. With two years completed in early February, it already registers 17.3 million consents from customers to share their data, according to a survey by the Brazilian Federation of Banks (Febraban).
With the potential to inject R$760 billion in credit granting in ten years, according to a study released by Serasa Experian in April 2022, the possibilities for financial institutions are enormous.
And with more companies eyeing open finance, an increasing number will need technological support to be able to benefit from the initiative, an opportunity for companies like Celcoin and its competitors such as Klavi and Sensedia.
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