The payments and financing platform, Tribal announced today that the company has formed a partnership with a55, one of the fastest-growing financial technology firms in Brazil. a55’s inclusion in the partnership program of Tribal will facilitate customers with a broad range of exclusive promotions.
The recent announcement from Tribal came nearly two months after the fintech platform raised $60 million in its Series B funding round led by SoftBank Latin America Fund. According to Tribal, the main focus of the recent collaboration with a55 is to support entrepreneurs through efficient credit alternatives.
"At Tribal we are convinced that the use of accurate, humane and efficient financial products will make a difference in accelerating the growth of startups and SMEs that are currently experiencing a boom. That is why we are excited about this partnership with a55, because what we offer each can be complemented to give better products to users," said Philippe Boulanger, the Head of Strategic Partnerships Latam at Tribal.
Along with its $60 million Series B funding round earlier this year, Tribal announced the company’s expansion in the Latin American region.
Brazilian Financial Technology Sector
Brazil is the largest economy in Latin America. The country is home to some of the most valuable fintech startups. In the latest press release, Hugo Mathecowitsch, the CEO and Co-Founder of a55, said that the businesses in the region are adopting digital tools for growth.
“We are a startup that offers credit with a model called 'financing based on future income’. We primarily fund digital and data-intensive businesses, integrate it into our credit intelligence and based on information that helps us identify future revenue standards, free up funding lines for businesses. We offer much more than money: we offer smart financing both with the aggregate services and the structuring of the lines themselves, as well as with a new type of financing, which is the MRR (Monthly Recurring Revenue). It's about democratizing this type of financing,” Mathecowitsch said.
