Ebanx founders guess, Transferbank receives funding

Ebanx founders guess, Transferbank receives funding

Transferbank, international remittance startup invested by Wagner Ruiz and Alphonse Voigt, founders of Ebanx, raises a seed round and prepares a platform to transact values ​​for individuals

At the end of 2019, Wagner Ruiz and Alphonse Voigt, two of the founders of Ebanx, a payments startup that has already raised $460 million in contributions and became a unicorn in 2019, sat on the opposite side of the negotiating table and took charge. role of angel investors in another fintech also based in Curitiba.

The duo, along with a third investor, invested R$700,000 in the fintech operation. The contribution was made to Transferbank, whose business consists of a platform that facilitates the transaction of money from abroad to Brazil and vice versa. Almost three years later, the bet of the founders of Ebanx begins to make sense.

This Wednesday, November 9, Transferbank announced that it has concluded the raising of R$ 4 million in a round seed🇧🇷 Investors are being kept secret, but Luiz Felipe Pereira Bazzo, founder and CEO of the operation, says that the funding was made without the need to include venture capital managers.

“We had the intention of doing a smaller round with the purpose of restructuring and reorganizing the captureable”, says Bazzo, to the NeoFeed🇧🇷 “We brought strategic partners in this round🇧🇷 Among the investors is an executive from a digital bank and professionals connected with foreign trade.

The round was completed in September but can only be announced now. Bazzo explains that the restructuring of the captureable involved the purchase of the stake of the former partner of the startup, the executive Rafael Mellem, who chose to leave the operation to focus on other businesses.

With 1,100 companies served and BRL 2.2 billion transacted in the last three years, Transferbank places itself as a competitor for fintechs that try to make the exchange midfield in place of banks. One of the rivals is Husky, a São Paulo startup that had its business purchased by Nomad, for an undisclosed amount, last week.

With a digital platform, Transferbank allows the user to send all the necessary documentation to send or receive money from abroad in seven different currencies (Real, Dollar, Canadian Dollar, Euro, Pound, Yen and Australian Dollar).

Fees vary by customer category. Altogether there are five segments served: importers, exporters, service providers for companies abroad (mainly developers and IT professionals), startups and venture capital managers.

In the last two groups, Transferbank has already provided services for managers such as Caravela Capital, Honey Island, ACE, TM3 and Kapture. Among the startups that have used the platform are Olist, bxblue, OmniChat, Triven, James Delivery and BossaBox.

In general, Bazzo says that the rate starts at 0.7%. “The market practices between 1.25% and 2.5% for professionals who provide services abroad”, says Bazzo. “The account closes because we do not depend on a traditional infrastructure and the customer has autonomy and control over the transactions.”

Transferbank also allows customers who have longer terms to make payments or receipts abroad. It is also possible to stipulate a target number in which the transaction will be reached if the currency reaches this value.

With an already profitable operation, Transferbank is expected to grow above 40% this year. One of the levers for this growth is the transfer modality aimed at individuals, which is being tested by the startup.

When it is officially launched, in December of this year, the idea is that the tool will serve an audience that transacts from US$ 2 thousand. “Below this value there is a lot of volume and it is not our focus”, says Bazzo.

In this case, there is the incidence of startup fees (which vary according to the value), and IOF, which can be 0.38% or 1.10%.

Source: Neofeed

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