Brazilian Fintech brings suppliers and retailers together on the same platform to guarantee payments and reduce defaults in the distribution chain
O CV iDEXO, TOTVS' corporate venture capital fund managed by Citrino Ventures, announces investment in fintech PayHop, which develops solutions to expand credit possibilities in the supply chain through the intelligent use of tradable assets that pass through Registration Entities, guaranteeing payments and reducing defaults in the distribution chain. TOTVS' contribution is part of the investment round received by PayHop, which also included other investors.
Founded in 2020, PayHop uses credit card receivables as collateral in operations in the distribution chain. With this, suppliers can offer better terms and financing conditions for operations, in return for using receivables from retailers as collateral, with PayHop being responsible for making this type of operation viable. Integrated with the main receivables registers (CERC, Nuclea, TAG and B3), fintech also provides the company receivables schedule consultation service for financial institutions and has a broad database, enabling the use of information from commercial establishments for multiple applications, mainly aimed at financial institutions and data bureaus.
“This is the eighth investment by CV iDEXO, which has a keen eye for mapping and investing in companies that have data-based applications, with practical, technologically robust solutions capable of solving a real problem. This is the case of PayHop, an innovative startup that escapes the trivial and explores a market recently created by changes in financial regulation, developing applications within a universe of receivables intelligence”, highlights Felipe Fornaziere, general partner at Citrino Ventures, manager of the iDEXO CV.
“We enable credit in production chains using receivables and, in turn, this information also travels through TOTVS ERPs, a large player reference in Brazil. We are very excited about the arrival of this investment and especially about the synergy that exists between the businesses”, comments Eduardo Rossi, CEO and co-founder of PayHop.
As the next step in the business, PayHop intends to enter the Book Duplicates market. The new legislation, which aims to create a new system to guarantee the security of electronic duplicates, is expected to come into force in the second half of 2024, which opens up a promising new market for the startup.
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