A Brazilian Startups Success with Corporate Cards: A Pivot Worth Making

Due to COVID spreading throughout the continent, all airports closed and Portão 3 was founded to help stranded travelers. Their product allowed users to find alternative ways to get where they needed to go, such as using buses or trains. Despite this difficult time for the company, they were able to release their product and continue serving travellers in a difficult market.

In spite of the timing being terrible, the company did not give up. They persevered and eventually recovered from the setback. The company’s resilience in this instance was admirable, and it is something that they can use to their advantage in future dealings.

The Pereira-Nery platform is still in use by enterprise businesses today. The software helps them to manage their corporate spending efficiently and effectively, which has proven to be a valuable service for businesses of all sizes.

In Brazil, CFOs are hesitant to adopt corporate cards because they’re concerned about the transparency of payments and the operational burden that comes with them. Citrix’s Pereira believes that using decentralized payment solutions like Venmo instead can solve these difficulties and empower employees while keeping executives in control. By decentralizing processes like payments and eliminating middlemen, businesses could avoid waste, fraud, and administrative headaches.

The Portão platform creates a policy configuration that approves transactions. This configuration is built into the platform, meaning that it can be applied to all transactions made on the platform without requiring any additional effort from employees. Additionally, because the policy is configured into the system, it can be updated quickly and easily without requiring massive effort from management.

Pereira’s explanation of budgeting provides employees with a clear understanding of where their money is being spent and when. This helps them to make more informed decisions about where to spend their time and money, which can ultimately lead to better-informed work productivity.

The use of QR codes on receipts has helped businesses monitor transactions and ensure accuracy, while the centralized invoice platform helps manage transactions and keep track of spending.

Since its launch over two years ago, Portão has quickly become a leading player in the Latin American digital transaction market. The company’s technology has facilitated over $60 million worth of transactions and issued more than 1 million physical and virtual cards. Nearly 600 enterprises throughout Latin America are using the technology, including companies such as Bitso, CredPago, health insurance giant SulAmérica and 123 Milhas. Additionally, Portão claims to have achieved profitability as of December and continuing to grow 20% month-over-month. This success shows that there is immense potential for blockchain technology in Latin America – an area that is currently dominated by traditional systems. Given the region’s rapidly growing economy and burgeoning population, it is likely that blockchain will only continue to grow in popularity here over the next few years

Portão 3’s software is designed to decrease the time spent on payment management processes by 33%. This helps companies control their employees’ spending on travel, fuel, tolls, meals and any external activities. Additionally, Portão 3’s software makes it easy to keep track of expenses in a consolidated manner. This helps businesses remainabrevenue- compliant while minimizing potential security risks associated with employee mismanagement of finances.

Endeavor Scale Up is a company that helps other companies grow large and fast. The company recently closed a $3.6 million seed funding round led by Better Tomorrow Ventures, angels including Fincapital, Pareto, Flexport and others. This money will help the company expand its services statewide and nationwide.

Pereira says that the company’s main focus for now is to continue growing in Brazil, with an eventual goal of expanding into Latin America. They’ve hired a new product and growth team member, as well as an ex-Samsung director to lead sales. Additionally, they have 30 employees currently stationed there.

Looking ahead, the company wants to focus on new segments of customers in logistics, retail and freight. These new markets may be more receptive to its innovative shipping solutions because they are growing rapidly and continue to face challenges in terms of efficiency and reliability. By continuing to focus on these key areas, the company can help its customers succeed while also benefiting itself through increased market share and profitability.

Enterprise companies in Brazil have been slow to utilize corporate cards due to concerns around fraud, reconciliation and decentralization of data. Better Tomorrow Ventures decided to invest in Portão 3 because it believes that the company has the ability to change this trend. By providing enterprise companies with centralized access to their corporate cards, Portão 3 can help them reduce fraudulent activity and improve overall profitability.

Portão 3’s software is designed to streamline transactions and fraud verification for large enterprise companies, dramatically reducing expense reporting times. Additionally, the system standardizes transaction data to make it easier for companies to manage their finances.

What Makes Portão 3’s Financial Management Platform Different From The Rest?

Portão 3 has focused their efforts on building a financial management platform that is not only useful for detecting and preventing fraud in card transactions, but also helps to ensure that expense reports are accurate and compliant with company policy. By integrating into various Brazilian government invoice databases, this platform can automatically verify any spend on the cards and ensure there are no violations of company policy.

Launched in early 2018, Portão 3 is a digital marketplace that connects suppliers and consumers of products and services across the Brazilian market. The platform offers a curated selection of products and services from verified providers, as well as the ability to filter by category or location. Additionally, Portão 3 offers a rewards program that allows users to earn points for every purchase they make on the platform.

Businesses that use software beyond the cards to manage their operations can see plenty of value in the model. These companies appreciate the efficiencies and features offered by such software, which makes their businesses run more smoothly.

Portão 3’s pivot is interesting because it shows the importance of retaining focus on the customer base in order to continue to grow within a specific field. Navan, which is another company that pivoted in this way, has been successful because its service focuses on general corporate spend management for enterprises. This allows it to offer a wider range of services and benefits than other companies in its field, making it attractive to customers

In the present day, people are quickly turning to technology in order to organize and manage their lives. Unfortunately, this reliance on technology can also lead to problems when our phones become our only source of information.

It’s been a rough few weeks for Ars Technica, as the website has been hacked and users’ personal information has been disseminated online. Judging by the comments left on Ars Technica’s article announcing the hack, many people are understandably upset.

Avatar photo
Dylan Williams

Dylan Williams is a multimedia storyteller with a background in video production and graphic design. He has a knack for finding and sharing unique and visually striking stories from around the world.

Articles: 1082