Fintech that offers CFO as a Service, Sinapse, receives US$580k in growth funding

April 11, 2022
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The amount will be invested in the development of the Sinapse platform and in the expansion of the team in the areas of products, technology, and growth.

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Sinapse, pioneer in the CFO as a Service model, concluded its angel round in the amount of R$ 4.4 million. The contribution, led by BR Angels Smart Network, counted with the participation of Aimorés Investimentos and renowned angel investors such as Paulo Silveira (Alura), Rudy Tarasantchi (CTO Afya), Guilherme Decourt (Ex-Monashees, partner of école 42), Karen Kanaan (Ex-Endeavor, partner of école 42) and Ricardo Morikio (Ex-E.bricks and Rocket internet).

"The financial processes are still performed in an archaic and manual way in Brazil and worldwide, consuming a lot of time and money, especially from SMEs. The Sinapse platform helps entrepreneurs to automate their daily routine, guaranteeing efficiency in the execution of financial routines and quality in the data generated in the processes", says Walter Cavalcante, CEO of the startup.

Sinapse created the concept of CFO as a Service and, in the last few months, evolved to the innovative format of CFO as a Network, a combination of technology directed to the automation of financial processes, integration between systems and a marketplace that allows the construction of customized financial areas for each business. The model combines the knowledge in finances for SMEs accumulated by Sinapse in its four years of history with the relationships developed with several market partners. The goal is to avoid waste of resources and distrust in financial data, recurrent problems in SMEs.

The fintech already has a network with more than 60 homologated partners in its Network, offering products and services focused on enriching the financial area of SMEs. To enter the ecosystem, partners go through a rigorous curation process, ensuring that only services and products with proven quality are offered to customers. In the intermediation of the businesses, Sinapse keeps a take rate of the revenues originated for the partners, a highly scalable model.

"It is very difficult to choose good services and systems for the financial area. From the accountant to the bank, going through the ERP, the entrepreneur suffers when evaluating solutions without knowledge in the technical issues of finance. In Brazil, there are more than 70,000 accounting offices and 2,000 ERPs. In this sea of options, the entrepreneur ends up making mistakes that cost a lot of time and money" states Cavalcante.

The fintech doubled the number of clients in 2021, reaching 120 companies served, among them Speedbird Aero, Vitat, Mutant, Pink Farms, 99Jobs, and Clima Tempo. The goal is to quadruple this number this year. To cope with this growth, the team went from 28 to 60 employees in 2021, and the expectation is to exceed 150 in 2022.

Orlando Cintra, founder and CEO of BR Angels, reinforces the importance of the fintech model. "Every company needs a good financial structure to operate and prosper. But SMEs often cannot afford the high costs of a CFO, analysts and other professionals trained to manage the area. Sinapse arrives to cover this gap and presents an intelligent solution, complete and capable of impacting the future of many enterprises in the country. We identified a strong convergence with BR Angels' purpose of contributing to the national business ecosystem. Therefore, we decided to bet on it", he says.

With its own methodology, technology, and a team of high performance professionals, Sinapse promotes professional financial management focused on the entrepreneur. "We will continue investing in technology and in the improvement of the ecosystem for our clients, our mission is to facilitate entrepreneurship through quality financial management," comments Cavalcante.

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.

Sinapse, pioneer in the CFO as a Service model, concluded its angel round in the amount of R$ 4.4 million. The contribution, led by BR Angels Smart Network, counted with the participation of Aimorés Investimentos and renowned angel investors such as Paulo Silveira (Alura), Rudy Tarasantchi (CTO Afya), Guilherme Decourt (Ex-Monashees, partner of école 42), Karen Kanaan (Ex-Endeavor, partner of école 42) and Ricardo Morikio (Ex-E.bricks and Rocket internet).

"The financial processes are still performed in an archaic and manual way in Brazil and worldwide, consuming a lot of time and money, especially from SMEs. The Sinapse platform helps entrepreneurs to automate their daily routine, guaranteeing efficiency in the execution of financial routines and quality in the data generated in the processes", says Walter Cavalcante, CEO of the startup.

Sinapse created the concept of CFO as a Service and, in the last few months, evolved to the innovative format of CFO as a Network, a combination of technology directed to the automation of financial processes, integration between systems and a marketplace that allows the construction of customized financial areas for each business. The model combines the knowledge in finances for SMEs accumulated by Sinapse in its four years of history with the relationships developed with several market partners. The goal is to avoid waste of resources and distrust in financial data, recurrent problems in SMEs.

The fintech already has a network with more than 60 homologated partners in its Network, offering products and services focused on enriching the financial area of SMEs. To enter the ecosystem, partners go through a rigorous curation process, ensuring that only services and products with proven quality are offered to customers. In the intermediation of the businesses, Sinapse keeps a take rate of the revenues originated for the partners, a highly scalable model.

"It is very difficult to choose good services and systems for the financial area. From the accountant to the bank, going through the ERP, the entrepreneur suffers when evaluating solutions without knowledge in the technical issues of finance. In Brazil, there are more than 70,000 accounting offices and 2,000 ERPs. In this sea of options, the entrepreneur ends up making mistakes that cost a lot of time and money" states Cavalcante.

The fintech doubled the number of clients in 2021, reaching 120 companies served, among them Speedbird Aero, Vitat, Mutant, Pink Farms, 99Jobs, and Clima Tempo. The goal is to quadruple this number this year. To cope with this growth, the team went from 28 to 60 employees in 2021, and the expectation is to exceed 150 in 2022.

Orlando Cintra, founder and CEO of BR Angels, reinforces the importance of the fintech model. "Every company needs a good financial structure to operate and prosper. But SMEs often cannot afford the high costs of a CFO, analysts and other professionals trained to manage the area. Sinapse arrives to cover this gap and presents an intelligent solution, complete and capable of impacting the future of many enterprises in the country. We identified a strong convergence with BR Angels' purpose of contributing to the national business ecosystem. Therefore, we decided to bet on it", he says.

With its own methodology, technology, and a team of high performance professionals, Sinapse promotes professional financial management focused on the entrepreneur. "We will continue investing in technology and in the improvement of the ecosystem for our clients, our mission is to facilitate entrepreneurship through quality financial management," comments Cavalcante.

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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