Financial intelligence startup receives R$4.5 million in funding and aims to reach 50,000 companies by 2020
January 6, 2020

Source: Startupi

Nucont, a financial and accounting intelligence startup that was born in 2017, has just received its first investment contribution led by Cedro Capital and accompanied by FC Partners, an M&A boutique located in Belo Horizonte, in the amount of R$4.5 million.

The platform integrates the financial and accounting data from more than 6 thousand companies throughout Brazil and transforms this data into business intelligence for decision making. “We don’t just send documents or tax information. We generate numbers and insights so that companies can make decisions through accounting and financial intelligence. We are a kind of corporate GPS,” says Luis Filipe Winther, partner of the startup.

In less than three years the company has already expanded its staff with more than two hirings a month, and today has more than 50 people on the team. With the investment received, the company intends to execute an accelerated growth plan to serve, through accountants, 50 thousand companies in Brazil, besides investing in the artificial intelligence area to continue offering analysis and insights about the companies’ performance.

Nucont’s strategy is simply to reposition the role of the accountant. “This professional who only calculates guides and payrolls is doomed to compete for lower and lower prices. We at Nucont give the accountant back his true role: to be the company’s doctor”, Winther comments.

“We have a major growth challenge for the coming years, but there is a significant gap between the demand for consulting accounting services and the current supply of accountants for small and medium enterprises. We have identified, therefore, a significant market to be explored in this segment and that is demanding the services made possible through Nucont” adds Lucas, partner at FC Partners.

The Nucont platform – together with the virtual assistant “Nanda” – works as an examination lab for the accountant. There all the companies’ health data is compiled and it is his role to interpret the exams and prescribe the best treatment for the companies.

“Since 2017 we have followed the evolution of Nucont and observed how they have been addressing a very large gap in accounting firms, which mostly offer basic bookkeeping services, while clients are increasingly demanding analysis and intelligence about their finances,” highlights Alessandro Machado, partner at Cedro Capital.

Besides the software, they also help educate the entire accounting market through Nucont University and also the Movement Accounting Without Boring, led by partner and founder, Fernanda Rocha: “Accountants, in general, are very disunited, but the #CSC Movement has helped change that. More than 10,000 professionals united are being protagonists of this change and are revolutionizing the profession throughout Brazil.”