Brazil-Based Financial Technology Company Secures R$820 Million (Series C)
Asaas, a financial technology company specializing in developing financial automation solutions for SMEs, announced it raised a R$820 million Series C round led by BOND, with participation from Softbank, 23S Capital, and Endeavor Catalyst.
This funding will be used to expand the company’s operations, advancing R&D efforts, and accelerating inorganic growth through new acquisitions, enabling Asaas to rapidly expand its solution portfolio.
This funding marks a significant milestone in the company’s trajectory, attracting international funds for the first time and solidifying Asaas as the largest financial technology solution provider for SMEs in Brazil, marking the beginning of a new phase of growth for the company. And Asaas aims to surpass R$1 billion in annual revenue by 2026 and reach over R$2 billion by 2027. Asaas expects to close 2024 with R$400 million in revenue and 180,000 active customers.
In the future, the company plans to define its own business category, initially named the Business Operating System, focusing on the complete convergence of various technological and automation solutions with a wide range of financial services necessary for the operation of SMEs in Brazil and possibly worldwide.
So far, Asaas has received approximately R$150 million in investments over the past 10 years, spanning Seed, Series A, and Series B rounds, and has grown at an average rate of over 100% per year over the past five years.
KEY QUOTES:
“We are witnessing yet another extremely significant milestone for Asaas. The involvement of prominent investors like BOND and Softbank will accelerate our growth and reinforce our market position. Our M&A strategy will gain momentum, and the technological evolution and market expansion that this investment will enable are essential to paving our growth path towards an IPO, which is coming soon.”
“In October, we will host the second edition of Asaas Connect, an event dedicated to showcasing the latest trends in technology, business, and finance, where we will announce a major launch—possibly the biggest of the year in terms of enterprise SaaS product releases.”
-Piero Contezini, co-founder and President of Asaas
“Asaas is at the forefront of a financial digitization wave for SMEs in Latin America. Their technology introduces simplicity, consistency, and customizability to foundational components of any business’s core operations – receiving and managing cash. Their continued innovation in areas of automated workflows, business management software, and digital banking highlight the extensibility of their platform and the expansiveness of their vision.”
-Daegwon Chae, General Partner at BOND
“We’ve been following Asaas’ journey for several years and deeply admire Piero and Diego’s ability to execute their plans. We strongly believe in their vision to use Artificial Intelligence to create value and efficiencies for small and medium-sized businesses, advancing their growth journey.”
-Rodrigo Costa, partner at SoftBank Latin America Funds
“The certainty is that the Asaas team has built a solid business, innovatively solving how companies manage their payment flows, collections, and receivables. And it feels like they are just getting started. We are very excited about this partnership.”
-Alex Szapiro, Managing Partner of SoftBank in Latin America
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