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Brazilian Fintech Stone raised US$467.5M to strengthen receivables anticipation for SMEs

December 20, 2023
Por
Fintechsbrasil
Fintechsbrasil
Notícias e negócios
📷
Bloomerang
The fintech secured a funding commitment from the US International Development Finance Corporation (DFC), a US government agency.
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About the investment

Stone informed the market today that it had secured a $467.5 million financing commitment from the US Development Finance Corporation (DFC), a US government agency. The disbursement of the transaction, which has a final term of seven years with an initial disbursement period of up to six months, "will help strengthen Stone's ability to provide receivables anticipation to MSMEs, which use the solution to optimise cash flow, financial flexibility, improve management and reduce the risk of non-payment," it said in a release.

Financing objective

The focus of the funding line is to support companies led by women or with a majority representation of women in their workforce. In addition, the resource is intended to impact mainly entrepreneurs in the North and Northeast regions of Brazil.

"Small and medium-sized entrepreneurs represent an important part of the GDP. Aligned with our purpose, the DFC line allows us to offer better products and services to our customers and contribute to the socio-economic development of our country", says Pedro Zinner, CEO of StoneCo, "With the resources raised we will be able to further leverage our solutions to support entrepreneurs looking to scale their businesses. At the same time, we generate a strong positive impact on society, boosting local commerce, creating employment opportunities and leveraging economic activity."

According to Stone, "a good portion" of the customers who use the POS ( Point of Sale ) pay 100% of their credit card receivables in advance. "This demonstrates that this type of transaction is the most efficient way to finance working capital and is sometimes the only avenue available to small and micro retailers," concludes Zinner. The news reinforces the company's commitment to strengthening the entrepreneurial ecosystem in the country.

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.

About the investment

Stone informed the market today that it had secured a $467.5 million financing commitment from the US Development Finance Corporation (DFC), a US government agency. The disbursement of the transaction, which has a final term of seven years with an initial disbursement period of up to six months, "will help strengthen Stone's ability to provide receivables anticipation to MSMEs, which use the solution to optimise cash flow, financial flexibility, improve management and reduce the risk of non-payment," it said in a release.

Financing objective

The focus of the funding line is to support companies led by women or with a majority representation of women in their workforce. In addition, the resource is intended to impact mainly entrepreneurs in the North and Northeast regions of Brazil.

"Small and medium-sized entrepreneurs represent an important part of the GDP. Aligned with our purpose, the DFC line allows us to offer better products and services to our customers and contribute to the socio-economic development of our country", says Pedro Zinner, CEO of StoneCo, "With the resources raised we will be able to further leverage our solutions to support entrepreneurs looking to scale their businesses. At the same time, we generate a strong positive impact on society, boosting local commerce, creating employment opportunities and leveraging economic activity."

According to Stone, "a good portion" of the customers who use the POS ( Point of Sale ) pay 100% of their credit card receivables in advance. "This demonstrates that this type of transaction is the most efficient way to finance working capital and is sometimes the only avenue available to small and micro retailers," concludes Zinner. The news reinforces the company's commitment to strengthening the entrepreneurial ecosystem in the country.

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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Segmento:
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País de origen:
Headquarters:
São Paulo, SP
Monto inversión:
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