1 hour Startup Startup that offers quick credit to companies is valued at R$ 150 million

1 hour Startup Startup that offers quick credit to companies is valued at R$ 150 million

Brazilian fintech BrBatel announced a new round of investments this Wednesday (1st) with an undisclosed amount, but the event raised the company’s market value to R$ 150 million. The money came from the family office (advice for wealthy families) Doninelli Participações.

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BrBatel’s new valuation is almost eight times higher than that of the startup’s first funding, which took place in November last year, when it started operating. The new contribution will be used to improve its automation of credit operations, invest in marketing and increase from 26 to 40 employees by the end of the first half of next year.

Fintech’s strength is a unique technology that performs credit Reviews and product delivery for businesses faster than banks, she says. Lucas Flores, co-founder and CEO of BrBatel, said in a press release that the traditional process of obtaining credit is still outdated, as it requires “dozens of additional information”, in addition to “poorly written clauses, non-transparent calculations” and “reciprocities that force organizations to sign insurance contracts to get more advantageous terms.”

BrBatel serves companies in the real estate, industrial, retail and energy sectors (Image: Reproduction/Alexander Mils/Pexels)

“BrBatel was created to bring less complexity at a time when the company needs credit to make investments, working capital or improve current indebtedness conditions. With our performance this year, we have already helped these companies to hire tens of thousands of people in the country”, says the executive.

The company currently serves companies in the real estate, industrial, retail, agribusiness and energy sectors. Its first credit operations started with amounts of R$ 5 million for medium and large companies. In its first year, it carried out more than 50 operations and reached more than BRL 650 million in funding, in addition to having more than BRL 1.2 billion in ongoing operations. Estimated revenue is over R$12 million this year.