Omie buys credit score firm and intends to originate R$ 500 million
When it received the R$580 million check from Softbank, in the second half of 2021, Omie made it clear that it would make acquisitions to complement its capabilities to serve Small and Medium Enterprises (SMEs). “We are in a gigantic market of millions of SMEs and 80% of the clients that arrive here came from no management software”, says Marcelo Lombardo, founder and CEO of Omie, to the NeoFeed.
Lombardo goes further and says that the company’s “big competitor in the market is its inability to go faster.” Because of this, Omie accelerated and, in less than a year, acquired five companies: in addition to Mintegra, purchased before the investment, it brought home Devi Tecnologia, G-Click, Linker and Conpass. Now, another one enters your portfolio.
Omie revealed to the NeoFeed who bought Ergoncredit, which will act as their credit engine. The operation was carried out six months ago, but, until then, the business had been tested at home. “We brought the entire Ergoncredit platform and integrated it into the Omie base,” says Lombardo. “Each receivable, each CNPJ, customer customer, customer supplier, is being anchored In real time.”
Omie’s customers alone issue around R$16 billion in invoices per month. In addition, the company has information such as bank account statements, customer and supplier payment history, inventory level. “Everything the ERP contemplates”, says Lombardo.
“We are going to model this engine with our partners in funding and offer credit”, says Lombardo. “No one knows how to use data to give credit, so let’s do this modeling without haste, together with them.” Among the partners are CDP Capital, which works with FIDCs, and others who are negotiating with the software company.
Today, Omie has only R$5 million in its portfolio and the goal is to reach R$500 million in 12 months. “We started slowly with anticipation of receivables”, says Lombardo. Now, the company is testing clean credit at rates ranging from 1.5% to 3% per month. Ergoncredit’s operation is fundamental in the company’s new strategy of creating an ecosystem that embraces its customer, its customer’s customer and its customer’s supplier.
The businessman claims that each company’s client points to another 116 unique CNPJs. Precisely for this reason, Omie is launching a portal, which will also function as a funnel mouth, to bring in all these players. “Every month, we send millions of emails with bills, electronic invoices,” says Lombardo. “From now on, they will no longer come with attachments, but with a link to the portal.”
In the portal, which until today had been working in beta format, everyone will have access to tax documents and collection instruments and features such as anti-fraud management of boletos, Pix, among others. “Whatever Arquivei charges you, I’ll give it away for free,” says Lombardo about the tax document analysis and management startup.
With this, customers of Omie users will have at their disposal a panel to consult and manage the status of all documents. “My client’s client will be able to finance right there. And we help our client to grow without him having to take risks”, says Lombardo.
The goal is to reach 2 million CNPJs by the end of the year. And Lombardo says the challenge is to grow at the speed of a fintech monetizing as a SaSS (Software as a Service) platform. That is, with recurrence. “We identified that it had massive network effect potential,” he says. The company’s estimate is to have 1 million repeat customers by 2025.
In June, Omie, an ERP company focused on SMEs, celebrated a milestone in its trajectory. The company reached 100 thousand customers, who spend, on average, R$ 350.00 per month. “We are conquering an average of 6 thousand new customers per month”, says Lombardo. “There’s a lot of room to grow. It is a market that we estimate at 4 million CNPJs.”
Despite Lombardo stressing that the market is practically a blue ocean, more and more players are entering this segment aimed at SMEs. Totvs, a giant in the ERP area, has an area focused on this universe. Stone, after buying Linx, delved even further into the strategy of offering management tools for small and medium-sized companies.
Digital banks are also focusing on this type of service. BS2, for example, changed all its operations, leaving individuals, to operate only in the corporate market. And players like BTG Pactual, Original, Inter and Itaú are strengthening these arms. Itaú, by the way, launched a platform called Itaú Meu Negócios in which Omie is one of the partners.
Recently, in a presentation to some asset managers at an investment bank, Lombardo received the following question from a manager. “Due to the crisis, have you felt a decrease in demand in the last three months?”. To which Lombardo replied. “What demand? I have no demand, I dig my opportunities.”
Omie’s business model is based, above all, on partnerships with accountants who refer their clients. “When we called saying that the accountant said they needed management software, many of them said they didn’t,” says Lombardo. “Having people to do inventory spreadsheets, accounts receivable, make notes in hand, this is not normal. Our struggle is to show that there is a solution and that it is accessible.”