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Cerc receives investment of US$ 12.8 million to transform the credit market in Brazil, bringing more security with the use of receivables

August 25, 2020
Por
Talita Moreira
Talita Moreira
Repórter de bancos e crédito do Valor
📷
valor.globo.com
Funds, injected by partners and investors, will finance expansion in asset registration.
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The Central Receivables (Cerc) raised R $ 67.7 million in its largest funding round so far, which will finance the expansion of the business fronts of the registrar. In addition to the current shareholders, the operation attracted two other major investors: the American manager Valor Capital and the Brazilian GP Investments.

Both were attracted by the potential of the nascent financial asset registration market in the country and by the technological bias adopted by Cerc.

"We are talking about a market of trillions of reais in receivables and, in the end, credit for micro and small companies", says Mario Mello, responsible for the fintech strategy of Valor, which operates in venture capital.

For the chairman of GP's board of directors, Fersen Lambranho, Cerc brings together characteristics that the manager seeks in an investment: qualified entrepreneurs, high technology, large market and innovative model. "Her business accelerates and simplifies the life of those who need to buy assets quickly," he says.

Of the total injected into the company, R $ 27.7 million came from current shareholders. GP reported having entered R $ 15 million and Valor invested another R $ 25 million, although it does not confirm the figure.

Cerc was founded by Marcelo Maziero, who was director of BM & FBovespa and Itaú BBA, and by Fernando Fontes, former president of Banco Petra. The registrar also has investors like Fábio Barbosa, former president of Santander; Marcos Lisboa, economist; José Bonchristiano, founder of Tempo Participações; the venture capital fund Parallax; and Yandeh Participações. Gustavo Roxo, partner of BTG Pactual, was part of the group, but left this round.

The company was born to act in the registration of financial assets, initially with an eye on the duplicates market. It was the first to receive authorization from the Central Bank (BC) to provide this service, two years ago.

The operations, however, are rapidly expanding to other segments. This is the case of the registration of card receivables - which has become one of its main businesses and should gain strength with the new regulations of the Central Bank for the sector, starting in November. This week, Cerc was one of two companies approved by the Superintendency of Private Insurance (Susep) to act as an insurance registrar.

The money raised will help accelerate new projects, says Maziero to Valor. Among them are the registration of real estate and agribusiness assets, bank securities and securities. The money will help Cerc to accelerate the creation of a settlement chamber, which should be ready by the end of the year, and to set up the project for a clearinghouse and depository for financial assets.

With these new steps, Cerc is advancing in territories now dominated by B3 and the Interbank Payment Chamber (CIP). However, at least for now, the company intends to remain out of competition with the stock market in the equity and futures segments. We are going to enter where we think we have some value to add ”, says Maziero.

Even in receivables records, the focus has been expanded from the operation itself to the provision of services. “Registering became a commodity, we want to go further,” he says.

For Mello, from Valor, Cerc has the potential to achieve a 40% share in the trademark registration market and 40% in cards.

The new investment raises to almost R $ 130 million the total already invested in Cerc. The round exceeded what was initially expected and left the register with enough cash to fund its investments until 2021. An IPO is in the plans of the company's partners for the next years.

For GP, the investment represents another step in its strategy of entering high-growth companies, even without being in control of them, as was its practice. The idea, according to Lambranho, is to provide Cerc with the manager's experience and relationship network in Brazil and abroad.

In the view of Valor's Mello, Cerc is “two years ahead of its competitors”. The manager, who has already invested in companies like Gympass and Stone, will have an observer seat at the register. "We are very excited about the opportunity."

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 Central Receivables (Cerc) raised R $ 67.7 million in its largest funding round so far, which will finance the expansion of the business fronts of the registrar. In addition to the current shareholders, the operation attracted two other major investors: the American manager Valor Capital and the Brazilian GP Investments.

Both were attracted by the potential of the nascent financial asset registration market in the country and by the technological bias adopted by Cerc.

"We are talking about a market of trillions of reais in receivables and, in the end, credit for micro and small companies", says Mario Mello, responsible for the fintech strategy of Valor, which operates in venture capital.

For the chairman of GP's board of directors, Fersen Lambranho, Cerc brings together characteristics that the manager seeks in an investment: qualified entrepreneurs, high technology, large market and innovative model. "Her business accelerates and simplifies the life of those who need to buy assets quickly," he says.

Of the total injected into the company, R $ 27.7 million came from current shareholders. GP reported having entered R $ 15 million and Valor invested another R $ 25 million, although it does not confirm the figure.

Cerc was founded by Marcelo Maziero, who was director of BM & FBovespa and Itaú BBA, and by Fernando Fontes, former president of Banco Petra. The registrar also has investors like Fábio Barbosa, former president of Santander; Marcos Lisboa, economist; José Bonchristiano, founder of Tempo Participações; the venture capital fund Parallax; and Yandeh Participações. Gustavo Roxo, partner of BTG Pactual, was part of the group, but left this round.

The company was born to act in the registration of financial assets, initially with an eye on the duplicates market. It was the first to receive authorization from the Central Bank (BC) to provide this service, two years ago.

The operations, however, are rapidly expanding to other segments. This is the case of the registration of card receivables - which has become one of its main businesses and should gain strength with the new regulations of the Central Bank for the sector, starting in November. This week, Cerc was one of two companies approved by the Superintendency of Private Insurance (Susep) to act as an insurance registrar.

The money raised will help accelerate new projects, says Maziero to Valor. Among them are the registration of real estate and agribusiness assets, bank securities and securities. The money will help Cerc to accelerate the creation of a settlement chamber, which should be ready by the end of the year, and to set up the project for a clearinghouse and depository for financial assets.

With these new steps, Cerc is advancing in territories now dominated by B3 and the Interbank Payment Chamber (CIP). However, at least for now, the company intends to remain out of competition with the stock market in the equity and futures segments. We are going to enter where we think we have some value to add ”, says Maziero.

Even in receivables records, the focus has been expanded from the operation itself to the provision of services. “Registering became a commodity, we want to go further,” he says.

For Mello, from Valor, Cerc has the potential to achieve a 40% share in the trademark registration market and 40% in cards.

The new investment raises to almost R $ 130 million the total already invested in Cerc. The round exceeded what was initially expected and left the register with enough cash to fund its investments until 2021. An IPO is in the plans of the company's partners for the next years.

For GP, the investment represents another step in its strategy of entering high-growth companies, even without being in control of them, as was its practice. The idea, according to Lambranho, is to provide Cerc with the manager's experience and relationship network in Brazil and abroad.

In the view of Valor's Mello, Cerc is “two years ahead of its competitors”. The manager, who has already invested in companies like Gympass and Stone, will have an observer seat at the register. "We are very excited about the opportunity."

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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