Brazil’s Essent Agro fintech raises R$700,000 in 7 hours

RIO DE JANEIRO, BRAZIL – Last Monday, June 21, fintech Essent Agro raised R$700,000 (US$140,000) in just seven hours, a record on the CapTable platform, in which the investment round took place.

According to the startup, developer of a platform that helps rural producers better manage their documents and taxes, 258 investors bought shares for amounts starting at R$800, and thus became part owners of the company.

Of the total amount raised, 34% will be invested in sales and marketing initiatives aimed at attracting new customers, and 32% will be used to increase the sales team. Another 30% will be invested in technology and product development, and 4% will be used to purchase equipment to enhance the platform’s performance.

“Essent Agro intends to increase its customer base in the next two years, which is why our focus on increasing the sales team is important, along with the quality of service offered,” says Giandrei Basso, Essent Agro’s CEO.

Source: Valor

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