Neofin Secures $7M Seed Round to Revolutionize Accounts Receivable in Brazil with AI-Powered Solutions
Summary
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. 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. 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4effd8ec-5a54-4bcd-9062-58ec59438721