Finplace raises BRL 10 million to scale credit score market
DSK Capital, a manager that has already invested in companies such as Atlas and ABC da Construção, led fintech round
Finplace, a marketplace that anticipates receivables for small and medium-sized companies, has just raised BRL 10 million with DSK Capital — a manager that has already invested in startups such as Atlas, ABC da Construção and Medway — to give traction to the business launched in 2020
Founded by Felipe Avelar, an executive who made his career at CB Partners — a manager specializing in credit rights funds — Finplace set up a platform to connect SMEs that wish to borrow for working capital to institutions that are willing to finance them, which includes banks such as Sofisa and BMG to securitization companies and FIDCs.
In less than two years of operation, the fintech has served more than 4,000 customers, transacting around R$2.5 billion. With an average ticket of BRL 170,000 per transaction, Finplace carries out around 12,000 transactions per year. “We want to triple operations next year,” Avelar told Pipeline.
With the funds raised, fintech will invest in education with funders and borrowers. “We don’t need to acquire customers, we need to engage them”, said the founder, explaining that institutions that anticipate using the platform take up to 60 days to learn how to use the technology.
Finplace is facing a gigantic market (about 20 million transactions per year), but it is not alone. In addition to traditional banks, the marketplace model is not exclusive to the startup. Antecipa Fácill, which developed a platform that makes automatic auctions of duplicates, recently raised R$ 9 million with the manager Bertha Capital to gain scale.
At a time of monetary tightening and increasing defaults, Finplace is betting that its platform can be a differentiator to engage lenders by helping to monitor credit risk. In order for a company to be able to anticipate resources on the platform, it must accept instant access to the issuance of invoices at the Secretary of Finance. “We pull data every 15 minutes to try to understand the situation of companies”, says Avelar.
Source: Value Pipeline