Brazilian business-to-business payments platform Barte has secured $3 million in a seed funding round.
The funding, which follows a pre-seed round six months earlier, was led by NXTP and Force Over Mass, with contributions from existing investor VentureFriends.
Founded in 2021 and based in São Paulo, Barte aims to address the working capital management challenges faced by many Latin American SMEs, which often encounter low transaction approval rates, manual processes, and limited visibility—factors that can lead to cash flow issues.
The platform aims to centralize SME transactions, simplifying intricate payment processes and facilitating growth.
In just one year, Barte has accumulated over 2,000 customers and is projected to grow more than tenfold in 2023, specifically targeting sectors with more complex payment requirements, such as B2B retail, suppliers, and marketplaces.
Raphael Dyxklay, co-founder of Barte, commented, “Latin America is experiencing a great window of opportunity in payments. Regulatory advances and open finance are just the tip of the iceberg. However, B2B companies with more complex processes than the standard self-service purchasing journey risk being left behind. At Barte, we’re ensuring that this doesn’t happen.”