Asaas, a Brazil-based fintech startup, secured an additional $20.9 million in funding during an extension of their prior Series B round.
The round included participation from current investors such as Inovabra (Bradesco’s venture capital manager), Parallax Ventures, Light Capital Group, and Escala, with the addition of TM3 Capital as a new investor.
The capital injection will strengthen Asaas’ balance sheet and help maintain its growth pace in compliance with Brazil’s Central Bank.
Asaas is a fintech offering payment management and ERP services for SMEs. Initially, the company focused on automating bill collection for companies. Now, their solutions include digital accounts, prepaid cards, receivables anticipation, ERP, and CRM software.
The startup expects to close the year with a revenue of $48M and 200K companies as clients.
Company: ASAAS Gestão Financeira Instituição de Pagamento S.A.
Round: Series B Extension
Funding Month: June 2023
Additional Investors: Inovabra, Parallax Ventures, Light Capital Group, Escala, and TM3 Capital
Company Website: https://www.asaas.com/
Software Category: Financial Management
About the Company: Founded by the brothers Piero Contezini and Diego Contezini, Asaas is a fintech company that offers solutions to automate the bureaucratic activities of companies. The company facilitates financial management through a complete digital account for companies. They offer solutions for collection management, communication rules, prepayment of receivables, and many others. Asaas helps freelancers, MEIs, and large companies to automate and professionalize financial processes, improving the relationship with their customers. Asaas is an acronym for Automation for Software as a Service.