Brazilian business-to-business payment platform Barte has announced that it has managed to attract investment funds in the amount of $ 3 million following the results of the initial round of financing.
The funding round took place six months after the preliminary selection. This round was attended by NXTP and Force Over Mass, as well as existing VentureFriends investors.
Barte was founded in 2021 in Sao Paulo. The main purpose of the company’s activity is to provide consumers with working capital management tools. Currently, representatives of Latin American small and medium-sized businesses are in urgent need of such tools, which are constantly faced with a low level of transaction approval and the dominance of manual processes with a low level of efficiency. These problems limit the flow of cash flows.
The Barte payment platform was created to centralize the transactions of small and medium-sized businesses, simplifying complex processes and ensuring growth.
Following the results of the year of presence on the market, the company has created a customer base that includes more than 2 thousand companies. This year, Barte plans to increase the number of customers by more than 10 times. The company intends to focus on specific segments that are characterized by more complex payment processes. One of these activities is B2B retail.
Rafael Dikskley, the co-founder of Barte, says that from the point of view of the payment sphere, Latin America is a space of prospects. According to him, there is a demand for new types and methods of transactions in this region, but there is no supply of such services at the required level.
Rafael Dikskley also noted that B2B companies with more complex processes than standard self-service purchases risk being left without access to payment services. The task of Barte, according to him, is to prevent this.
As we have reported earlier, Smart Lending Fintech Abound Raises £500 Million.