In the year 2020, amid historically low interest rates, investors rushed to realign their portfolios towards more profitable options, experiencing a notable growth in the stock market.
According to information from B3, the Brazilian stock exchange, the number of individual accounts registered almost doubled during the first year of the pandemic, adding 1.5 million new investors.
This interest was not limited to the domestic market, as the pandemic and other events, such as elections, motivated some investors to explore opportunities outside the country.
It is in this context that the financial technology company Astride decided to intensify its presence in Brazil.
The startup, based in the United States with 28 years of experience, specializes in tax advisory for those interested in investing outside of Brazil, offering its services digitally through an online platform.
Recently, it received an investment of BRL$3 million from family, friends, and angel investors to enhance its technology and expand its operations in the country.
Astride is also establishing strategic partnerships with major Brazilian banks to offer its advisory services to the clients of these institutions.
Recent partnerships include agreements with institutions such as Avenue and Nomad, as well as international banks like BTG Pactual and Bradesco.
With 28 years of experience, Astride specializes in advising, primarily on fiscal matters, investors who want to place part of their capital in the United States.
The company helps investors establish and maintain offshore companies to manage their investments outside of Brazil.
Astride’s advisory is carried out digitally, which, according to Cristina Teixeira, the company’s CEO, reduces operational costs.
“In the past, investing abroad was a privilege for millionaires. Our goal is to demystify this idea and serve anyone who wants to protect their wealth, offering a platform that combines technology with competitive fees for the average investor,” explains the director.
Thanks to this service, the startup projects closing the year with revenues of BRL$1.2 million, representing an impressive 409% increase compared to the previous year, with a market valuation of BRL$9.7 million.
Unlike the 2020 scenario, interest rates in Brazil are now considerably higher than the previous 2%. This has led more conservative investors to focus on fixed income.
However, the economic landscape in the United States has also undergone changes, with interest rates at their highest level since 2001, attracting investors interested in a return linked to a strong currency.
“Banks will be our main sales channel. The high level we offer in terms of service and reduced prices, due to automation, generates a lot of value for banks in front of their customers,” explains Teixeira.
Astride, aware of these changes, has integrated various perspectives into its growth strategy, focusing on partnerships with Brazilian financial institutions.
The goal is for these banks to offer the startup’s services to their clients interested in international investments. Among the partners are Avenue, a custodian used by banks such as BTG Pactual and Bradesco.
For the coming years, Astride aims to expand its operations to other Latin American countries. Additionally, it plans to launch Astride Portugal, with similar functions focused on international accounting advisory, initially targeting Brazilians residing in the country.