Movile leads round of BRL 92.8 million in fintech a55

The revenue-based finance fintech (which is different from venture debt) a55 closed a round of R$ 92.8 million (US$ 17 million). The contribution was led by move and marks the 1st investment by the owner of iFood – that doesn’t want to be seen just that way, but rather as a “long-term investor in technology companies” – in a company that has no such direct relationship with its business. Previously she had invested in zoop and in the creation of MovelePay.

The round also had the participation of Moor Capital (old one Santander Innoventures) who started investing in a55 in a US$7 million round made in 2020. In 2021, the fintech raised US$35 million in equity and debt.

With the new features, the a55 intends to expand its client portfolio, strengthening its operations in Brazil and also in Mexico, where it started operating in 2020. The company has already served 500 clients and generated R$300 million since the beginning of its operations in 2018.

The portfolio today is very concentrated in technology companies with recurring revenue and has grown in the e-commerce segment. In the 3rd quarter of 2020 alone, more than R$ 30 million in credits were originated for use in working capital, purchase of inventory and digital marketing. This has been done through partnerships with platforms such as Galax Pay, Integrated Store, Magis 5 and BWC. According to André Wetter, co-founder and president of a55, the idea is to seek subscription and recurrence customers in other segments.

On the product side, the plan is to expand the offer beyond credit and become a provider of financial services that help companies grow, based on the relationship and knowledge of the operation developed from the granting of credit.

“We were a credit company that was developing credit intelligence with alternative data. Now it’s time to take the next step, expand the market further, reach more companies”, says Hugo Mathecowitsch, CEO and co-founder of a55.

According to Hugo, the plan is to reach the end of the year with R$ 1 billion in credit granted and a total portfolio of R$ 500 million. He adds that a part of the resources used in the operations will come from the current round. Although the use of equity for this type of operation is not the most appropriate, he explains that taking this risk ends up being a market requirement. In addition to being an opportunity to earn with the spread of operations.

According to him, the move will help a lot in the process of structuring these operations and also in raising new funds. The company will also be important in this expansion phase due to its experience in Latin America, in markets such as marketplaces, games and consumption, in addition to all its knowledge in technology development. “We want to leverage our fin using a lot of tech, automating everything we’ve developed so far”, says Hugo.

Among the foreseen possibilities is the use of the bank infrastructure as a service of the zoop. “But we will only do it if it makes sense, we don’t want to force anything”, says Fábio Massuda, director of strategy and investments at move.

In Fábio’s assessment, the macroeconomic scenario is complicated. But a55’s offerings have a clear opportunity for growth. This is because in a volatile environment, the tendency is for businesses to seek alternative ways to finance their operations. “Demand is only going to grow. Especially because the market is underserved”, he says.

For Hugo, the strategy of creating products that help companies to grow leaves the a55 more comfortable, even in the face of a scenario of rising interest rates, which makes lending more expensive. If we deliver growth, even though it’s more expensive, it’s easy to pay because it’s clear what’s left in your pocket,” he says.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Shares of Oi (OIBR3) close up almost 11% with expectations for an Anatel meeting on Friday on the sale of mobile assets

Oi shares (OIBR3;OIBR4) recorded a high session on B3 this Thursday (27), with both asset …