Brazilian retailtech and fintech startup Beepay raised a $400K seed round led by Comunitá, the corporate venture capital arm of cooperative bank Sicredi, which invested $200K. ACATE Invest and Ventiur also participated.
Beepay has developed autonomous checkout technology that allows consumers to buy products without using a staffed cashier. Customers can scan products with their phones or self-service kiosks in physical stores, condominium minimarkets, hotels, and corporate spaces.
Beepay plans to develop new solutions for stores and points of sale that reduce checkout lines and operating costs through integrated payment and identification systems. It also plans to invest in artificial intelligence to improve real-time personalization in physical stores.
Founded by Renata Costa, Beepay currently serves about 170 clients and expects to break even within 18 months.
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