Brazilian fintech startup Asaas secured an additional $20.9M in funding during an extension of their prior Series B round. The round included participation from current investors such as Inovabra (Bradesco’s venture capital manager), Parallax Ventures, Light Capital Group, and Escala, with the addition of TM3 Capital as a new investor.
The capital injection will strengthen Asaas’ balance sheet and help maintain its growth pace in compliance with Brazil’s Central Bank.
Asaas is a fintech offering payment management and ERP services for SMEs. Initially, the company focused on automating bill collection for companies. Now, their solutions include digital accounts, prepaid cards, receivables anticipation, ERP, and CRM software.
The startup expects to close the year with a revenue of $48M and 200K companies as clients.