Barte, a Brazil-based B2B fintech, has raised BRL 16m ($3m) in a seed round.
The funding will be used to expand the business, its products, and to structure a new credit vehicle, which will be launched this year.
The round was led by NXTP and Force Over Mass, with participation from existing investor VentureFriends.
The startup, founded in 2021, raised 6.5m BRL ($1.2m) in a pre-seed round six months ago.
Founded by Caetano Lacerda and Raphael Dyxklay, the fintech offers cash flow management and access to credit to help SMEs in Latin America.
In a statement, Lacerda said that its products not only simplify payment flows, but also offer a level of service and technological flexibility that solutions which target the market as a whole cannot offer.
Dyxklay added: “Since the pre-seed round, we have acquired more than 2,000 user companies, set up a team of about 20 people, and moved more than BRL 20m ($3.8m) through the platform. Our expectation is to grow at least 10 times by December.”
The long-term aim of the company is to improve the efficiency of transactions between businesses in Latin America, which goes beyond payments.
Lacerda explained: “While the problem starts with managing payments, access to capital is the other side of this equation. Through our platform, we are able to build more robust credit models, unlocking financing for an underserved segment.”