Business

Brazilian fintech Sled, former Troco Simples, raises a BRL 7 million round from Astella Investimentos

The new round will back Sled's plans to invest in new products and consolidate the expansion in Brazil

Brazilian currency, real
Sled used to be Troco Simples, a startup that digitized cash change, allowing consumers to use it in bank transfers, to top up their cellphones or to donate the digital change to charities. Photo: Fotos Públicas
  • With the new resources, the company aims to develop new products, including a solution for consumers and retailers at points of sale;
  • This was Sled’s second round led by Astella Investimentos; in August 2019, the fintech had already received a BRL 2.5 million investment from the Brazilian VC firm.

Brazilian fintech Sled, a platform that simplifies financial transactions in physical retail, announced a BRL 7 million round from Astella Investimentos.

“This second round from Astella reinforces that we are on the right path,” says CEO and co-founder Anderson Locatelli. In August 2019, Sled had already raised a BRL 2.5 million contribution from the VC firm.

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Sled was born in 2016 as Troco Simples, a startup that offered an app to digitize the cash change when consumers were making purchases at physical stores.

As the company spotted room for growth, it has rebranded as Sled in November 2020, becoming a platform with financial products that connect consumers, banks and retail. One of its products is a digital cash change system for retailers to integrate into their ERP and POS terminals, simplifying the handling of cash also for B2B clients.

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“We will also have the possibility to invest in new products to consolidate our expansion throughout Brazil, making life easier for people and establishments such as pharmacies and supermarkets, among others,” Locatelli adds.

“The company’s future launches give us even more confidence that the channel they are building with retailers and points of sale can be rewarded in several ways,” says Astella’s partner and co-founder Laura Constantini.

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