Brazilian Fintech‘s ecosystem is one of the healthiest of the region, even in these times. In Brazil, new fintech startups are emerging and receiving investment, as the case of Zoop.
The Brazilian fintech Zoop announced to have received an investment of 60 million reais led by the Movile Group. This is around one million dollars.
Movile Group is the owner of other technology businesses such as the delivery company iFood and Playkids. The transaction was also accompanied by Darwin Capital. This was Movile’s third investment in the startup since 2018.
Zoop allows businesses from different sectors to create their own financial solutions. Fabiano Cruz and Rodrigo Miranda founded the company in 2012. “Every company can be a fintech with us”, says Cruz. Customers include startups such as iFood, Avec, Sympla, and VTEX.
Zoop grew up in the pandemic, attracting over 40 new partners and reaching a base of 500 customers. The volume traded today is four times that of 2018. Forecasts expect that the company reaches 20 billion reais by the end of 2020.
“With Movile’s contribution, we will continue to grow exponentially,” said Cruz. The company plans to develop products and services available on a B2B platform of“ fintech as a service. The main goal is to offer the best technologies. In this way, the company will help its partners to deal with the entire regulatory framework.
Movile’s bet on Brazilian Fintech
With the new investment, Zoop should help expand Movile’s vertical of fintechs, which has been betting on new forms of digital payments, banking, and credit services for its customers. According to Patrick Hruby, president of Movile, the group focuses on financial services to grow.
The group focuses on three verticals of solutions for small and medium-sized companies: payments, banking and credit. “We see an immense opportunity in the coming years to improve financial services and allow greater access for companies of all sizes, and we want to ensure that we are at the forefront of this transformation,” said Hruby in a note.
In the last year alone, Movile has invested more than R $ 100 million in fintechs, almost double the 55 million invested in 2018. Within this strategy, Zoop, which manages to be a “fintech of fintechs” has a fundamental role in enabling the products and services that the Movile group aims to create.
In early September, for example, MovilePay launched a prepaid card for restaurant owners who are on iFood. The technology used behind the card, called iFood Facilita, is provided by Zoop. Fintech is iFood’s primary means of payment partner today.