- Brazilian fintech a55 offers credit to SMEs;
- The startup has raised a new $2 million round in October, after receiving a $5 million round from Santander’s venture capital arm in May;
- The new investment will allow the startup to accelerate growth, by expanding credit supply in Brazil and Mexico, in addition to increasing the volume available for operations and for hiring new professionals.
Brazilian fintech a55, focused on offering credit to SMEs linked to technology, announced this month an investment round of $2 million led by E3 Negócios, through its investment fund ZFM.
In May, the company had already raised $5 million with Santander’s venture capital arm, Mouro Capital (former Santander InnoVentures). Through the contribution, a55 created a financial management platform, a product that helps companies to do their financial management and bank reconciliation, and more recently a credit line aimed at financing digital marketing campaigns, designed for e-commerce.
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“With the first contribution this year, we have already increased our customers by more than 4x over last year, expanding the market and our execution scope. We have assisted more than 100 companies through 350 different operations, more than BRL 35 million in Mexico and BRL 100 million in Brazil. We hope to double those numbers in the next 12 months ”, says CBO and cofounder André Wetter.
With 60 employees over Brazil and Mexico, a55 gathers data such as bank accounts, billing, investment in digital marketing, and credit intelligence in a single platform. The new round will allow the startup to accelerate growth, by expanding credit supply in both countries, in addition to increasing the volume available for operations and for hiring new professionals.