WEEL
Bridge Loans for Small Businesses
Company Overview
Snapshot
Founded in November 2014 by Simcha (Simo) Neumark and Shmuel (Sergio) Kalmus, WEEL operated with 11–50 employees. The company raised a total of $60.24M across 5 funding rounds from 4 investors. WEEL was acquired by Banco Bonsucesso in June 2021.
Business overview
WEEL developed a fintech platform that enables small and medium-sized businesses to secure immediate loans by uploading their ERP data and selling invoices. The company's platform incorporates proprietary algorithms for risk analysis, determining feasible repayment schedules for clients. WEEL primarily served the Brazilian market, operating within the Fintech & Insurtech sector, specifically focusing on Lending & Financing.
Strategic signal
The acquisition of WEEL by Banco BS2 (formerly Banco Bonsucesso) in June 2021 signals a strategic consolidation within the Brazilian fintech landscape. This move allowed Banco BS2 to expand its receivables anticipation capabilities, aiming to become a dominant player in the sector. For investors, this highlights the value of innovative lending platforms targeting SMBs and the potential for exits through strategic acquisitions by established financial institutions seeking to enhance their digital offerings.
Log in to access full profile ›Company Intelligence Q&A
- What was WEEL's exit event?
- WEEL was acquired by Banco Bonsucesso in June 2021. The acquisition was reported by Reuters, indicating a strategic move for Banco BS2 to enhance its position in receivables anticipation.
- Which investors participated in WEEL's funding rounds?
- WEEL secured funding from investors including BV (Formerly Banco Votorantim), Franklin Templeton, and Monashees across its various rounds.
- When did WEEL raise its last disclosed funding round?
- In February 2020, WEEL raised $14.94M from BV (Formerly Banco Votorantim), as reported by LABS English.
- What was WEEL's total capital raised?
- WEEL raised a total of $60.24M across 5 disclosed funding rounds.
- When did Franklin Templeton invest in WEEL?
- Franklin Templeton invested in WEEL in April 2019, as reported by Reuters.