Bradesco guess, fintech Asaas, from Joinville, launches bank card for corporations

Bradesco guess, fintech Asaas, from Joinville, launches bank card for corporations

Company goes beyond boleto and Pix and announces the launch of its first credit card for small and medium-sized companies; goal is to have 120 thousand customers in 2023

fintech Wingsa financial services platform for small and medium-sized enterprises (SMEs), is entering the credit market launch its first credit card for entrepreneurs🇧🇷 So far, the company only had the account opening service, debit card and payments via boleto, link and Pix.

What does Assas do?

Founded by brothers Piero and Diego Contezini, Asaas was born in Joinville to serve small and medium-sized companies that were looking for smarter platforms for financial and management control. For this, fintech started offering digital accounts and more traditional payment methods, such as bank slips for companies, in an intermediation service with large banks.

Some time later, the company began to look at the universe of receivables, helping companies that needed more intelligent methods to manage their receivables. “On this journey, our focus also became showing entrepreneurs that a transparent platform for payments and receipts could help them maintain good relationships with suppliers”, says Piero Contezini, CEO of Asaas.

The new service was a natural addition to fintech, which was already targeting the full payment cycle — a process that includes paying, receiving, and extending credit. The next step was to help these entrepreneurs better manage their cash, which led to the acquisition of two companies, including an ERP platform, which stands for business management. “We saw that the biggest difficulty for small businesses, even so, continued to be the issue of credit”, he says.

According to Contezini, Asaas’ differential compared to other payment platforms for SMEs is the focus on business management. “What we sell is the automation of back office processes, and how to monetize that through financial services,” he says. “We don’t sell the bank account, but the facility and the help in reducing the time spent with bureaucracies”.

How the company grows

Currently, Asaas has more than 1 million digital accounts opened, and 150,000 active users — in 2020, that number was 50,000. In August of this year alone, Asaas transacted BRL 1 billion, almost half of the total transacted throughout 2019.

Part of these results is due to the addition of Pix to the company’s portfolio, assesses Contezini. “We gained new momentum, as we started to have agility with immediate settlements and more security in transactions”, he says. On another front, the company gained more robustness after an investment of BRL 37 million from Bradesco’s Inova Ventures fund in 2020.

Asaas credit card

With an eye on the credit market, Asaas had been seeking a license from the Central Bank for a year and a half to become a credit granting institution (SCD). With the authorization, in 2021, the company is now launching its first credit card for legal entities — especially small and medium-sized companies that were already recurring users of the company’s other services.

The intention, according to Contezini, is to convert, at this first moment, all 30 thousand debit cards working in the prepaid model into credit cards. “With this, we are going to release this to all customers who fit our credit offer models, something that also starts with the risk analysis carried out by us”. As of January 2023, the goal is to quadruple that number, having 120,000 active cards.

In addition to the credit card, Asaas is also launching its own billet, a replacement for the generation service currently provided by traditional banks. The expectation is that 100% of customers will use Asaas’ own ticket this year and an initial portion of customers will have their credit card approved.

Source: Exam

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