Docket, the ‘anti-bureaucracy’ startup, raises BRL 110 million with Gerdau and Bradesco

Docket — a search, management and pre-analysis startup for legal documents — has just raised BRL 110 million in a round led by Gerdau Ventures and Inovabra, Bradesco’s venture capital arm.

The company will use the resources to continue growing while seeking to gain operational efficiency.

“We want to get to breakeven in 2024 with a good amount of cash on hand for opportunities,” CEO and co-founder Pedro Roso told Brazil Journal. “Besides, we don’t know how the market will behave. This year, we saw the market close very quickly for new funding, but we still managed to do this round.”

Founded in 2016, Docket was born from the mind of Flávio Castaldi, who worked in the legal team of a large construction company and found himself lost in the middle of all the documentation that he had to raise and control (all in Excel).

At the time, he teamed up with Pedro and Rodrigo Lopes (the CTO) to create software to control the expiry of property registration certificates. The first client was the construction company where Flávio worked.

Over time, Docket improved its platform until reaching the current model, which works as a kind of ‘document mall’.

The startup created several integrations with the systems of public bodies – from the Ministry of Labor to the Court of Justice – and helps companies to obtain and manage all the necessary documentation for processes involving due diligence, such as granting a loan or an investment.

“For the big banks to do all the steps to formalize a home equity or real estate financing, for example, that part of due diligence documentation took about 2 months,” said the CEO. “With Docket, we’ve reduced that time to seven days, and we want to get down to minutes.”

According to him, the client doesn’t need to do anything: it just needs to integrate with the startup’s API so that it automatically starts to receive all the information about the documentation it needs to collect.

“It’s a very broad set of documents,” he said. “On one home equityfor example, the company needs the client’s birth certificate, the IPTU, the parking space document, the property registration, and so on.”

Until now, this work was done by the back office companies or, in some cases, they asked the client to go after the necessary documentation — which further delayed the process.

Docket already serves 165 clients, mainly in the financial sector, agribusiness and real estate. The portfolio includes companies such as Banco Carrefour, Klabin, Sicredi and CashMe, Cyrela’s fintech.

Pedro said that one of Docket’s objectives is to increase the conversion rates of his commercial treadmill without having to increase the team, as well as growing his share of wallet in customers.

“There is a lot of opportunity to cross sell🇧🇷 There is a bank, for example, that we are only in the real estate area,” he said. “We could easily get into litigation, insurance, asset recovery.”

Série B also had the participation of TM3 Capital, the manager of Bematech co-founder Marcel Malczewski; from Valor Capital; from ONEVC; and Wayra, Vivo’s corporate venture capital. Those last three had already invested in Serie A, along with Canary and Kaszek.

Source: Brazil Journal