Brazilian fintech start-up ASAAS receives $799,6 K investment

The Brazilian start-up ASAAS – which provides a complete solution for payments and collections management – received $799,6 thousand (BRL 2,5 millions) in a new investment round. The investment was led by the Cventures Primus.

Helping in SME money management is the company’s big goal. The platform has successfully reduced on average 50% in bad debt and approximately one hour daily work of the users.

“We work to improve the relationship between suppliers and customers. Through an efficient multichannel communication platform, we make all charges between the parties something simple and professional, attending business, formal or otherwise, that previously would not be able to acquire this type of technology, “says Piero Contezini, CEO and co-founder of Startup.

With the investment, ASAAS intends to improve the billing warning technology, called a multichannel communication rule, using big data technologies and artificial intelligence in the process, and to continue and expand operations.

The company closed the year 2016 with a 314% growth in revenues. The number of users and transactions through the application also increased significantly, reaching a level of BRL 103 million in the year, or 317% more than in 2015.

By 2017, Contezini expects to further increase transactions and the number of customers at the base.

“We plan to transact R $ 360 million this year and triple the number of active customers until December,” he says. Also new for 2017 will be the integration of the platform to the Brazilian Payment System. “With this, we intend to issue lower-cost banking tickets linked to a debit card directly linked to the ASAAS account, fulfilling our mission of bringing financial inclusion to the simpler layers of the Brazilian population,” concludes the CEO.