Business

Méliuz: acquisitions and financial services boost second quarter revenues

The Brazilian cashback and discount coupon platform ended the second quarter with net revenue of BRL 54.5 million

Méliuz acquires fintech Acesso
Israel Salmen, CEO at Méliuz. Photo: Jonas Fonseca
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Méliuz, a Brazilian cashback and discount coupon platform, ended the second quarter with net revenue of BRL 54.5 million, more than doubling the revenue achieved last year’s same period. The company’s acquisition strategy seems to be working, as the recently acquired Picodi, Promobit, and Melhor Plano accounted for 37% of its growth.

The expansion of the financial services portfolio also proved to be successful. Of the total revenue, BRL 8.4 million came from financial services, almost four times the net revenue coming from this vertical in last year’s second quarter.

READ ALSO: Interview: Méliuz expands to financial services to increase recurrence of its 16 million user base

Since its IPO, Méliuz has diversified its new user acquisition strategy to broaden its base and retain them in its services ecosystem. The company ended the second quarter with 18.8 million accounts, a 14.6% growth compared to the first quarter of the year. Compared to the last twelve months, Méliuz’s user base almost doubled, going from 10 million to 18.8 million.

From the engagement and retention standpoint, Méliuz reported a total of 8.8 million active users, a 23.9% growth over 1Q21.

READ ALSO: Méliuz raises BRL 400 million in its follow-on and plans to launch a new app and a complete digital account solution

In the shopping vertical, total GMV (Gross Merchandise Volume) reached BRL 1.1 billion (BRL 905 million for Brazil and BRL 239 million for the international operation), a 128% growth compared to the second quarter last year. This result considers the results of the Picodi, Promobit, and Melhor Plano acquisitions. The shopping vertical also accounted for BRL 46.1 million of the quarterly net revenue.

In the financial services vertical, the company reached a TPV (Total Payment Volume) of BRL 763 million. In addition, Méliuz reached the 6 million mark of applications for the branded card; there were 1.5 million new applications only in the second quarter.

READ ALSO: Méliuz acquires the cryptocurrency digital bank AlterBank

Méliuz’s next steps are now the launch of an app next month that will integrate the platform’s shopping services with financial services in a single interface and a complete digital account solution in January 2022. The idea is for Méliuz users to bring their entire financial life into the ecosystem, with debit and credit cards, paycheck, PIX, and other features.

Despite the positive results, the company closed the second quarter with a net loss of BRL 4.6 million.

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