BHub raises one other R$ 40 million to observe the purpose of being “again workplace as a service” of different startups

The business of the São Paulo startup is to handle processes unconnected with the core activity of other startups. Opened in 2021, BHub has already raised 180 million reais

After raising 116 million reais in a Series A round at the end of 2021, the startup BHub announces this Tuesday, 13th, an extension of 40 million reais in the amount raised a few months ago, increasing the amount of the Serie A to 156 million reais.

How does BHub operate?

BHub’s business is to handle all kinds of processes necessary for the functioning of a company, but without relation to the core activity of the company itself.

On the list are bureaucracies such as payment orders to employees and suppliers, resolution of legal disputes and so on.

“We are one backoffice as a service“, says the founder Jorge Vargas Neto, a well-known figure in the circles of entrepreneurs in the capital of São Paulo. “We want entrepreneurial leadership to be able to focus on what they are good at.”

In plans with a monthly subscription, BHub customers select services such as accounts payable and receivable management, payroll and benefits management, accounting and legal.

The upside is resource savings — a big plus in a more expensive credit landscape for tech companies.

On the BHub account, customers achieve an average monthly savings of between 20,000 and 40,000 reais.

“There is a case of a client who saved more than 1 million reais in the year after a review of his tax regime made by us”, says Vargas Neto.

BHub’s business model is similar to that of the American unicorn pilotvalued at 1.2 billion dollars in March last year after a contribution led by the billionaire’s fund Jeff Bezosfounder of Amazon.

who are the founders

Before founding BHub, in June 2021, Vargas Neto worked for nearly a decade at the Pinheiro Neto law firm advising technology companies. David Vélez, founder of Nubank, was one of the clients.

Frequent contact in the universe entrepreneur made him an entrepreneur too: Vargas Neto founded Biva, a credit fintech sold to PagSeguro in 2017, and ZenFinance, a credit startup acquired by Rappi in 2020.

In addition to Vargas Neto, Fernando Ricco, Vanessa Muglia and Marcelio Leal are in the business.

The round announced today is led by the American manager Moore Capital, with the participation of the venture capital arm of the global entrepreneurship network Endeavor.

In addition to them, the following are partners in the funds:

• STD
• Monashees
• Value
• Picus Capital North
• BFF Ventures

Monashees and Valor had already led the BHub Series A in December 2021. Also participating in the round:

• QED Investors
• Picus Capital
• ClocktowerVC
• Founders of unicorns like iFood, Rappi, Olist and Vtex

With this new contribution, fintech reaches 180 million reais received just over a year after its foundation.

“With all the readjustment we are seeing in the venture capital market, the extension of our round in valuation 50% larger than our Série A reaffirms BHub’s leadership position”, says Vargas Neto.

Where the resources will be invested

Extension resources will be directed to the expansion of services provided by BHub. One of the targets is a platform called Hub do Empreendedor, a free dashboard that, connected to the company’s bank account and ERPs, gives access to charts and financial indicators, such as burn rate and runway, which are often obscure in the daily lives of those who manage a business. business.

With just over a year of existence and a team of 150 employees, the startup has already served more than 400 companies and plans to reach 700 by the end of 2022.

“In this scenario of scarcity of capital, the demand for our services has grown a lot, as entrepreneurs are looking for ways to save and extend the runway of their companies”, says Vargas Neto.

Of the total amount received from the contributions, BHub spent less than 20 million reais yet. The rest of the value remains untouched.

The objective is to save cash for ambitious plans — an expansion to Latin American countries is on the radar.

“We want to help entrepreneurs grow their companies while saving resources. O Entrepreneur Hub it is our contribution to the ecosystem in this challenging time”, he says.

Source: Exam