Participated · Series C · Oct 2024

Asaas develops financial automation and business-management solutions targeted at SMEs, aiming to simplify payments, collections, receivables, and related workflows. The company plans to define a new category it calls the Business Operating System, merging automation, technology, and financial services for SMEs. Proceeds from its latest round will fund expansion of operations, increased R&D, and accelerated inorganic growth via acquisitions to broaden its solution portfolio. Asaas positions itself as the largest financial-technology solution provider for Brazilian SMEs and has attracted international investors for the first time. It reports roughly R$150 million raised across seed, Series A, and Series B over the past decade and average growth of over 100% per year in the last five years. Asaas expects to close 2024 with R$400 million in revenue and 180,000 active customers, and targets over R$1 billion in annual revenue by 2026 and R$2 billion by 2027. Asaas focuses on accounts for PMEs and on anticipating receivables from credit cards and boletos to improve clients' cash flow. Its core products include business accounts and a receivables-anticipation operation for card and boleto flows. In the past 12 months the company transacted R$15 billion in total volume, including R$1 billion in credit-card transactions, and it currently serves 120,000 corporate clients (PJ). Since 2014 Asaas has received more than R$200 million in investments, comprising both financial injections and FIDCs. The company plans to grow its customer base by about 66% by year-end and targets R$1 billion in revenue and 1 million customers within three years. Other series of its funds are expected after a four-month regulatory lock-up, and management aims to accelerate receivables anticipation by over 60% by year-end. Asaas is a Brazilian fintech providing a complete digital account and automation tools to help businesses manage finance processes. Its core product focuses on payment, billing and financial automation and the company is expanding BaaS offerings for larger operations. Asaas is already profitable and intends to fund much of its growth from internal cash generation. It holds Banco Central authorizations for IP (Instituição de Pagamentos) and SCD (Sociedade de Crédito Direto), which management says increases client trust. In 2021 Asaas acquired Base ERP and Code Money to broaden its product portfolio and improve automation capabilities. Management aims to reach R$1 billion in revenue and 1 million customers within three years and plans geographic and product expansion. The company has signaled a future IPO as part of its long-term strategy.