Brazil-Based Asaas Announces Series C Led by BOND

Gunderson Dettmer represented client Asaas, a Brazil-based fintech, in its Series C financing led by BOND. With over 1 million digital accounts created by companies and over 660 employees across Brazil, Asaas provides a complete digital account for companies, automating financial management processes, increasing productivity, and reducing bureaucracy for all types and sizes of businesses. The company will use the new capital to expand its operations, accelerate research and development efforts, and inorganic growth through new acquisitions.

In the announcement of the transaction, Brazil Journal states, “’There are companies around the world that are doing this vertically, like Toast, which created a kind of operating system for restaurants that goes from the POS to the delivery of vegetables and fruits,’ said Asaas Cofounder Piero Contezini. ‘But they don’t have the financial services part, they only offer third-party services.’ Asaas wants to do the same thing, with the difference that it is a financial institution and does it horizontally (for all sectors and not just one, like Toast).

The Gunderson Dettmer deal team was led by Adan Muller and included Katie Gardner, Lily Kim, Eduarda Tavares, Tuca Bihari, Arthur Dalmarco and David Koenig.

Companies
Asaas
BOND Capital