Brazil-based financial technology company Asaas, specialising in developing financial automation solutions for SMEs, has raised R$820 million (A$220 million) in Series C funding.
The round was led by BOND, with participation from Softbank, 23S Capital, and Endeavor Catalyst.
The company plans to use the funds to expand operations, accelerate research and development, and expand its solution portfolio.
Asaas, led by brothers Piero and Diego Contezini, automates financial management processes, increasing productivity, and reducing bureaucracy for businesses of all sizes. The company services all of Brazil with over 660 employees and over 1 million digital accounts.
To expand globally, Asaas will build out its sales and marketing teams to reach new audiences.
It's grown at an average rate of over 100% per year over the past five years after receiving over R$150 million in investments.
The fintech has a licence to operate as a Direct Credit Society (SCD) granted by the Central Bank and is the 31st payment institution in Brazil.
