Hurst Capital made three acquisitions in one year.
A Hurst Capital, fintech specializing in investments in alternative assets, bought a stake in IBID, a software company focused on e-Procurement solutions. The purchasing platform automates and optimizes supply chain processes for large companies. Thus, Hurst will start to anticipate receivables and create credit products for the supply chain. Also, it will tokenize receivables.
The agreement reached provides for an option to purchase control of IBID, which has already changed its name to Ahlex. Yalla Capital advised IBID on the transaction. Today, 44 large companies use the IBID system. In total, there are 890 thousand suppliers in the base and transactions reached R$ 25 billion in the last 12 months. The information is from the Fintechs Brasil, Blocknews partner news hub.
“We are creating a supply chain finance platform that will be a more affordable credit alternative for SMEs that participate in the supply chain of large corporations,” says Arthur Farache, founder and CEO of Hurst.
Hurst Capital has already bought Watermelon and Dividends.Me
According to Farache, the CEOs of the companies met in 2015 and realized a common goal, which was to help SMEs cash flow. “Fabio Hoinaski is an entrepreneur with vision. He realized that by getting to know the sales of suppliers, it is possible to create a financial product with a more adjusted value proposition and at a low cost”, he completes.
Thus, fintech starts to originate prepayment operations of receivables from large companies, yet another investment option in the current portfolio. Among the alternatives it offers are, for example, court orders, real estate, musical royalties and works of art. “We are going to tokenize the receivables that will complement our mix of alternative products”, he says.
The transaction with IBID is the third acquisition of the group, as in November 2020, they announced the purchase of fintechs Watermelon, fixed income, and Dividendos.Me.
With only four years of experience in the market, Hurst Capital has established itself as the main originator of real assets, therefore alternative, in Latin America. That’s because, since its foundation in 2017, it has surpassed R$600 million in origination, being R$200 million last year alone.