One7 buys control of Fintech Rapidoo to grow digital invoice factoring for Brazilian SMEs

July 15, 2020
Repórter no jornal Valor Econômico.
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Rapidoo
It is estimated at 5 million businesses that can benefit from prepayment of receivables in the country.

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Founded in 2018 in the interior of São Paulo, the One7 financial services platform acquired control of fintech in anticipation of receivables Rapidoo and injected R $ 50 million for the granting of credit. In the crisis, this type of fintech has been the target of investors due to the ease of lending to micro and small entrepreneurs, a public in need of resources in the pandemic.

"The focus will be on customers that earn up to R $ 500 thousand per month, which a hundred generally do not have access to credit or services such as cash flow and accounts payable", says João Paulo Fiuza, president of One7. "We will take a leap in geographic expansion with the acquisition, serving customers from all over the country."

One7's businesses include a securitizer, a Credit Rights Investment Fund (multisectoral FIDC ONE7 LP) and a technology company serving companies with revenues between R $ 6 million and R $ 120 million per year. The company reduced its portfolio in the crisis and used cash for the acquisition.

Rapidoo, in turn, was founded in 2016 by the German Caspar Gerleve and the Brazilians Pedro de Cicco, Raphael Monteiro and Thiago Frigo, served companies with average sales of up to R $ 100 thousand per month and anticipated R $ 35 million. The company will remain independent, but will be able to use the One7 structure, reducing costs.

It is estimated that there are 5 million businesses that can take advantage of prepayment of receivables in the country, which have had difficulty in obtaining funds in the crisis, in banks and in government lines. “Fintechs manage to get to the top, so the interest in having such a business has grown,” says Fiuza. In late June, XP Inc. bought a majority stake in Antecipa, founded by businessman Camilo Telles. The company focuses on anticipating for suppliers of large companies, called "anchor".

In general, the interest to discount a security is, on average, 2.5% per month, but can rise to 4% per month without the presence of an “anchor” company. At banks, they average 1.2%, plus 0.5% in taxes, but these institutions are more restrictive.

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.

Founded in 2018 in the interior of São Paulo, the One7 financial services platform acquired control of fintech in anticipation of receivables Rapidoo and injected R $ 50 million for the granting of credit. In the crisis, this type of fintech has been the target of investors due to the ease of lending to micro and small entrepreneurs, a public in need of resources in the pandemic.

"The focus will be on customers that earn up to R $ 500 thousand per month, which a hundred generally do not have access to credit or services such as cash flow and accounts payable", says João Paulo Fiuza, president of One7. "We will take a leap in geographic expansion with the acquisition, serving customers from all over the country."

One7's businesses include a securitizer, a Credit Rights Investment Fund (multisectoral FIDC ONE7 LP) and a technology company serving companies with revenues between R $ 6 million and R $ 120 million per year. The company reduced its portfolio in the crisis and used cash for the acquisition.

Rapidoo, in turn, was founded in 2016 by the German Caspar Gerleve and the Brazilians Pedro de Cicco, Raphael Monteiro and Thiago Frigo, served companies with average sales of up to R $ 100 thousand per month and anticipated R $ 35 million. The company will remain independent, but will be able to use the One7 structure, reducing costs.

It is estimated that there are 5 million businesses that can take advantage of prepayment of receivables in the country, which have had difficulty in obtaining funds in the crisis, in banks and in government lines. “Fintechs manage to get to the top, so the interest in having such a business has grown,” says Fiuza. In late June, XP Inc. bought a majority stake in Antecipa, founded by businessman Camilo Telles. The company focuses on anticipating for suppliers of large companies, called "anchor".

In general, the interest to discount a security is, on average, 2.5% per month, but can rise to 4% per month without the presence of an “anchor” company. At banks, they average 1.2%, plus 0.5% in taxes, but these institutions are more restrictive.

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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