Neofin Raises $7M Seed Round, Led by Quona and Upload Ventures

Brazilian fintech startup Neofin has secured a $7 million seed round, a major step toward transforming how businesses handle accounts receivable. The round was led by Quona and Upload Ventures, with participation from several notable investors. This funding represents one of the largest early-stage investments in a female-led startup in Brazil.

Additional backers include 17-Sigma (led by Bianca Sassoon), 1616, Far Out Ventures, BFF, Norte, and Canaan, as well as angel investors Cesar Carvalho (Wellhub/Gympass) and Patrick Sigrist (iFood and Nomad).

Addressing a widespread business challenge

Accounts receivable inefficiencies cost businesses time and money. More than 40% of invoices in the U.S. are paid late, a trend mirrored in Brazil. Neofin aims to solve this issue by integrating AI-driven workflows into finance teams' operations, allowing businesses to manage receivables more efficiently.

"Technology has the power to transform a very awkward process into an efficient workflow, that understands the uniqueness of each debtor and negotiates accordingly. Our workflow actually begins before bills are overdue by including preventive measures to ensure proper communication before accounts are due."

Laura Camargo, Co-founder & CEO at Neofin

Expanding AI-driven capabilities

Neofin plans to use the new capital to enhance its AI capabilities, focusing on three key developments:

• Automated renegotiation portal: A self-service platform that allows businesses and debtors to negotiate payment terms seamlessly.
• Advanced CRM for accounts receivable: An intelligent system that enables finance teams to track and optimize collection efforts.
• AI-powered WhatsApp integration: A tool that automates debtor communication, making collections faster and more effective.

Additionally, Neofin will invest in expanding its AI and machine learning teams to further customize debt collection strategies based on debtor profiles.

A strong team with industry expertise

Founded in 2023 by Laura Camargo, Arthur Cunha, and Leandro Sarmento, Neofin brings together a team with deep expertise in finance and technology.

Laura Camargo, who leads the company, has 14 years of experience in private equity and finance, having worked at Pátria (Blackstone partner), General Atlantic, and Wellhub (Gympass). She was also a co-founder and CFO at Inventa, a B2B marketplace that raised over $80 million since 2021. Her co-founders, Arthur Cunha and Leandro Sarmento, bring complementary expertise in finance and technology, strengthening Neofin’s position as an innovative player in the sector.

The investors behind Neofin’s growth

Neofin’s backers include some of the most well-known investors in the fintech space:

• Quona Capital: A venture firm focused on financial technology startups.
• Upload Ventures: A firm backing high-growth Latin American startups.
• 17-Sigma: Led by Bianca Sassoon, specializing in early-stage investments.
• 1616, Far Out Ventures, BFF, Norte, and Canaan: Other key players supporting Neofin’s expansion.
• Angel investors: Cesar Carvalho (Wellhub/Gympass) and Patrick Sigrist (iFood and Nomad), both experienced entrepreneurs in the fintech and digital services sectors.

A market poised for disruption

With this funding, Neofin is well-positioned to scale its AI-powered SaaS platform and reshape how businesses manage their financial operations. As it expands, its innovations in automation, AI, and financial intelligence will play a crucial role in improving cash flow management for companies across Brazil and beyond.

“We are pleased to back the team at Neofin. We were compelled by the strength of the team and by their vision to build a next-gen platform to address a massive pain point for SMEs in Brazil, who spend an inordinate time managing their payments and cash flows. We believe the potential in this space is enormous, and we’re excited about the market validation Neofin has achieved in a short time frame.”

Jonathan Whittle, Co-Founder and Partner at Quona Capital