Neofin, a Brazilian startup that has developed an AI-powered accounts receivable platform, has successfully raised $7 million in Seed funding. The company, founded in 2023 and based in São Paulo, is poised to enhance the efficiency of accounts receivable workflows by leveraging cutting-edge technology. This funding round was spearheaded by Quona Capital and Upload Ventures, with additional participation from 17-Sigma, 1616, Far Out Ventures, BFF, Norte, and Canaan, alongside angel investors Cesar Carvalho and Patrick Sigrist.

Innovative Platform for Accounts Receivable

Neofin’s platform is designed to streamline the accounts receivable process by transforming it into a data-driven and efficient workflow. The AI-powered solution integrates seamlessly with leading Enterprise Resource Planning (ERP) systems and major banks in Brazil, offering finance teams an effective way to save time and enhance cash recovery. By automating key tasks and providing deep data insights, Neofin empowers businesses to manage their receivables with greater precision, reducing manual effort and improving financial outcomes.

Planned Use of Seed Funding

The Seed funding will be used to accelerate the development of new features within Neofin's platform. One of the key focus areas will be the creation of a renegotiation portal, which will allow businesses to manage debt restructuring more effectively. Additionally, Neofin will introduce a CRM tool specifically tailored to accounts receivable teams and integrate an AI-based Large Language Model (LLM) with WhatsApp, enhancing communication with debtors, both individuals and companies, in a more interactive and efficient manner.

Partnership with Serasa for Credit Analysis

In addition to the platform’s technological advancements, Neofin has formed a strategic partnership with Serasa, Brazil's leading credit bureau. This collaboration will provide users of the platform with access to comprehensive credit analysis and bureau reporting. By incorporating these insights into the accounts receivable workflow, Neofin is enhancing its offering, enabling businesses to make more informed decisions when managing collections and credit risk.

The Team Behind Neofin

Founded by Laura Camargo, Arthur Cunha, and Leandro Sarmento, Neofin is on a mission to address the complexities and inefficiencies that traditionally plague the accounts receivable process. Each of the co-founders brings a wealth of experience to the table, combining expertise in technology, finance, and business operations. Their vision is to create a solution that not only improves operational efficiencies but also redefines how companies approach financial management.

Neofin’s recent $7 million Seed funding marks a significant step forward for the company as it continues to expand its innovative AI-powered accounts receivable platform. With plans to enhance platform features and improve communication capabilities, Neofin is positioning itself as a key player in transforming the financial technology landscape in Brazil. The company’s ability to streamline accounts receivable workflows and integrate valuable data from credit bureaus is set to make a lasting impact on how businesses manage their financial operations.