SAO PAULO, Feb. 05, 2025 (GLOBE NEWSWIRE) — Cash is king and no business can survive without it. Quoting Warren Buffet: “Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent”. With this principle in mind, Neofin’s mission is to transform the embarrassing process of Accounts Receivable (getting paid) into an efficient flow through technology and Artificial Intelligence.
The company announced a US$7MM seed round, led by Quona and Upload Ventures. Founded in 2023 by Laura Camargo, Arthur Cunha, and Leandro Sarmento, the funding marks one of the largest seed investments directed toward a female-led startup in Brazil. Other Neofin backers include 17-Sigma (led by Bianca Sassoon), 1616, Far Out Ventures, BFF, Norte, and Canaan, alongside the notable angel investors Cesar Carvalho (Wellhub/Gympass) and Patrick Sigrist (iFood and Nomad).
Neofin is currently in the first chapter of its existence (and forecasts at least 2 more going forward), which is focused on the Accounts Receivable and Collection cycles. The main feature today is a cutting-edge, customizable, and automated Accounts Receivable Workflow, integrated to the clients’ ERP and bank, that enables tailored segmentation of debtors, ensuring each receives the most appropriate communication and action based on their profile. For example, a faithful client does not need to be bothered with several messages, while an unfaithful client with no intent to pay should be subject to more drastic measures such as credit bureau reporting or legal actions, besides a different voice tone.
“Technology has the power to transform a very awkward process into an efficient workflow, that understands the uniqueness of each debtor and negotiates accordingly” Laura said, adding that the workflow actually starts before an AR is late. “Our workflow actually begins before bills are overdue by including preventive measures to ensure proper communication before accounts are due.”
That is strongly related to Laura’s background, she added. “After working for more than 14 years in the finance universe, I witnessed many finance teams having to perform miracles to get paid, and wasting a huge amount of time doing useless tasks. This round is an important milestone for Neofin, allowing us to accelerate growth and invest in the foundational AI to take our product to the next level.”
For some more context, Laura has a strong private equity and finance background: she worked for more than 8 years in PE firms such as Pátria (Blackstone partner) and General Atlantic, was Global VP of Finance for Wellhub (Gympass) in NY and was a cofounder and CFO at Inventa, a B2B marketplace that raised more than $80 million since 2021. Neofin cofounders Arthur Cunha and Leandro Sarmento share extensive and complementary backgrounds in Finance and Technology.
The resources will be used in the development of new features of the platform, especially the renegotiation portal 100% touchless, the advanced CRM for Accounts Receivable and the integration of an AI-based LLM with whatsapp for communication with debtors (both companies and people). On top of that, the funds will also be directed to expand the data, machine learning and AI departments to take the customization of each communication to the next level, as well as the segmentation of client profile.
“More than 40% of invoices issued in the U.S. are paid late, and this trend is mirrored in Brazil and globally,” said Jonathan Whittle, Co-Founder and Partner at Quona Capital “We are pleased to back the team at Neofin. We were compelled by the strength of the team and by their vision to build a next-gen platform to address a massive pain point for SMEs in Brazil, who spend an inordinate time managing their payments and cash flows. We believe the potential in this space is enormous, and we’re excited about the market validation Neofin has achieved in a short time frame.”
Neofin is a pioneering AI-powered SaaS platform for accounts receivable workflows, transforming the AR process into a data-driven, efficient workflow. With integrations across major ERPs and banks in Brazil, Neofin delivers a flawless experience for clients, enabling finance teams to save time and recover cash effectively.
Neofin has also partnered with Serasa, offering seamless access to critical credit analysis data and bureau reporting within the platform.
Contact:
Laura Camargo
+5511993295555
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4effd8ec-5a54-4bcd-9062-58ec59438721