Six months after announcing the beginning of its operations and raising $1.2 million, Brazilian fintech Barte — which works with B2B payments — plans to leverage its projects to the next level with new funding. The fintech recently raised $3 million in a seed round led by funds NXTP and Force Over Mass.
Global Founders Capital, VentureFriends, and Flash Ventures, which had invested in the fintech in the previous round, also participated in this new funding.
The company aims to scale its operations with the bolstered cash, launching a new credit product later this year.
Simplifying B2B payments in Brazil
“Twenty-twenty-two was a year in which we grew volumes by more than 10 times. The round is a vote of confidence from funds that takes us to another level of readiness for Barte’s next steps. But we know we still have a lot of work ahead of us,” said Caetano Lacerda, Barte’s CEO, in a press statement.
Barte was founded in mid-2022 by Caetano Lacerda and Raphael Dyxklay. It has a simple goal that permeates the whole reason for its business: to simplify payments between companies, offering, through its platform, cash flow management tools and access to credit for small and medium enterprises.
According to the CEO, the company, born at the temporary end of ample VC funding in LatAm, seeks to help local businesses grow despite the uncertainties of the macroeconomic moment, providing solutions to ease the bureaucracies in B2B payments in Brazil.
Helping small and medium businesses to streamline financial flows
Since the pre-seed round, Barte has gained more than 2,000 company users. For the company, the short-term goal is to grow revenues by at least 10 times by December. The fintech has already transacted over $3.8 million through its platform recently.
This year, Barte’s focus will be to grow in Brazil. But according to the executive, starting in 2024, Barte should start structuring its expansion in Latin America.
Alexander Busse, a partner at NXTP, commented that “Barte is going after a huge market opportunity by digitizing financial flows and plugging the financing gap that small and medium businesses face in Latin America. Caetano and Raphael are uniquely suited to solve this problem, and their customer-centric approach to growth has generated phenomenal traction. We are convinced that this is just the beginning.”
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Apostolos Apostolakis, who is a founding partner of VentureFriends, said that “we have been fortunate to support Caetano and Raphael since when Barte was just an idea, and we are very impressed with the execution and the transition to a revenue-generating company —- especially with an indispensable product for small and medium businesses. We are very excited about the company’s next steps.”