Revenue-Based Financing Platform a55 Receives USD$16.3 Million Series B Investment Led by Movile to Accelerate Growth
a55, a leading revenue-based financing platform in Latin America, has received a R$92.8 million (USD$16.3 million) Series B investment led by Movile, a long-term investor and accelerator for LatAm tech companies, with participation from existing investor, Mouro Capital, which specializes in fintech innovators. a55 currently operates in Brazil and Mexico through an open-finance platform that connects banking, payments and online-performance data for its growing customer base and has experienced significant growth since its founding, with more than R$300 million of loans provided to more than 500 companies.
a55 launched its operations in 2018 led by co-founders André Wetter and Hugo Mathecowitsch. COO André Luiz Silva joined the founding team in 2019. Their vision is to help entrepreneurs in LatAm’s increasingly connected economy grow their businesses through financing based on data and the predictability of their future recurring revenues.
With the new Series B investment, a55 will dedicate more resources to advance its technology and recruit more talent, with the goal of accelerating its expansion in Brazil and Mexico. The company plans to use the fresh capital to grow its portfolio of clients, within and beyond the online subscriptions and e-commerce verticals. a55 plans to enhance its existing open-finance platform, develop new data-science and blockchain-based technologies, and continue its international expansion.
Source: PRWeb (link opens in a new window)
- blockchain, data, financial inclusion, fintech