Konsi, a startup dedicated to enabling comparative analysis and reducing interest rates on payroll loans, has announced a R$ 3 million Seed round, led by investment firm Valutia, in an investment that marks a significant step towards the company’s growth and expansion to transform the payroll loan landscape in Brazil.
Fundraising is part of the company’s strategic planning, which is focused on growing its customer base and continuously improving its services. Bruno Barreto, co-founder and co-CEO of Konsi, has expressed excitement about this investment and emphasized that the startup will use the funds to expand its service further and strengthen its presence in the market. One of the company’s key objectives is to extend its services to all federal, state, and municipal employees in Brazilian capitals by 2025.
Konsi already provides its services to state employees in various Brazilian states, including Amazonas, Bahia, Mato Grosso, and São Paulo. It also serves municipal employees in the capital city of São Paulo. The Konsi platform operates with a monthly volume of around R$ 20 million and has a user base of over 100,000.
Founded in Bahia in 2021 by Bruno Barreto, Paulo Fontes, Rafael Seixas, and Rodrigo Fontes, Konsi has significantly impacted the financial sector by connecting more than 15 financial institutions on its platform. This platform allows users to simulate, compare, and access real-time payroll loan options. It is suitable for optimizing interest rates on existing contracts and selecting the best options for new contracts.
Bruno Barreto emphasizes the importance of transparency and fairness in the payroll loan market:
“In March of this year, just in the INSS, 17 million people had active payroll loan contracts, and almost a million new contracts are issued almost every month, according to Social Security data. Everyone should have the opportunity to get a fair loan. We know that this is not the reality of the market, where many actors offer products with higher commissions to their customers instead of those that best fit the customer’s budget, giving them a choice and ensuring transparency when contracting new loans, refinancing, and portability.”
Furthermore, Konsi has ambitious plans for its continuous expansion in 2023. The application will be available for state employees in Minas Gerais and Rio de Janeiro, further expanding its reach and contributing to its growth. The collaboration with Valutia, a leading investment firm, will significantly affect Konsi’s path toward expansion and continuous improvement.
The seed round for Konsi comes in a complex context. Investment in early-stage and seed-stage startups in Latin America showed a pronounced decline in the last year. The third quarter saw an initial investment of USD $196 million, representing a 50% decrease compared to the second quarter and a 46% decrease compared to the same period the previous year, according to data from Crunchbase.
