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

The company concludes its follow-on with BRL 400 million to expand its financial services portfolio and continue its M&A strategy

Méliuz raises BRL 400 million in its follow-on to expand financial services offering and new acquisitions
Luciano Valle, investor relations director at Méliuz. Photo: Méliuz/Courtesy
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Méliuz, a cashback and discount coupon platform, raised BRL 1,2 billion in its follow-on. The company put 7.5 million shares up for sale at BRL 57 each. From this amount, a little more than BRL 400 million remain in the company’s cash.

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.

The two launches are in line with the company’s strategy to consolidate itself as a more robust ecosystem, through the expansion of the financial services portfolio and internationalization. The valuation of the company’s shares and the volume raised in the follow-on indicate that it is a right strategy.

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The most recent investment by Méliuz within this strategy was the acquisition of fintech Acesso, for BRL 324.5 million. Acesso will facilitate the launch of new financial products such as investments and insurance in partnership with other financial institutions, in addition to increasing cross-selling with the products and services that are already in the Méliuz’s portfolio, such as the credit card, the marketplace and the Méliuz Nota Fiscal.

“Our initial effort is in adding our marketplace knowledge with Acesso’s banking knowledge and providing Méliuz users with a complete experience, ranging from shopping to payment, through all financial products, such as digital account, transfers, PIX, salary portability, among others,” said Luciano Valle, investor relations director at Méliuz.

In the future, Méliuz intends to launch other products, such as credit, investments and even insurance.

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“We understand that the value we generate for our users and partners is in the ability to convert traffic into purchases, and in this case, the financial services is a way to be more effective in this journey,” Valle said.

New acquisitions

According to Valle, the company continues to study business opportunities through new acquisitions. “We are studying companies that will help us to further deepen our financial services activities, but also to reinforce our positioning in other stages of the purchasing journey for our users. With the next acquisitions, we want to increase our conversion power and improve the shopping experience for users,” he explained.

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Since the IPO, besides Acesso, Méliuz has made three other acquisitions – the international e-commerce platform Picodi (for BRL 120 million), the social-commerce startup Promobit (for BRL 13 million) and the price comparison site Melhor Plano (for BRL 10 million).

The funds raised in the follow-on will be invested on three fronts: hiring, especially for the product and technology teams, continuing the agenda of mergers and acquisitions and accelerating the growth of the user base – currently 16.4 million registered users.

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