Conta to expand after $41.5m raise

Brazilian fintech Conta Simples has secured $41.5 million in a Series B funding round led by existing investor Base10 Partners. The funding will be utilised by Conta Simples to enhance its corporate card platform and expand its expense management services. Base10 Partners’ co-founder and managing partner, TJ Nahigian, will join the Conta Simples board.

This funding round follows a $24 million Series A in December 2021, which was co-led by Jam Fund and Valor Capital, with additional participation from Big Bets and Y Combinator. All four firms participated in the Series B, along with new investors Broadhaven and DOMO.

Conta Simples, founded in 2018 and based in São Paulo, reported breaking even at the end of 2023, with a processed transaction volume of $3.7 billion. The fintech was authorised as a Direct Credit Society by the Central Bank of Brazil in September, allowing it to expand its credit products. The new funding will enable Conta Simples to explore new growth avenues, introducing features such as receivables, financing, and buy now, pay later (BNPL).

Rodrigo Tognini, CEO and co-founder of Conta Simples, expressed that the Series B funding will provide a broader range of opportunities to launch products and facilitate significant improvements in all services offered by optimising the usability of the platform.