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The offering closes the loop on the company's portfolio aimed at startups. Now, besides creating a legal structure outside Brazil (the famous Cayman-Delaware sandwich) and sending funds raised abroad to Brazil, companies can receive the money in the local account offered by the company.
According to Gonzalo Parejo, co-founder and president of Kamino, this makes life easier for founders and CFOs because it reduces paperwork and centralizes the relationship in one provider.
"We solved the access and receipt of funds first. Now we look at how to withdraw these funds. The idea is to have a broader vision in the future, with cash flow, returns, and automation," adds Benjamin Gleason, co-founder of Kamino.
The plan, however, is not to become a bank. "The idea is to be a financial hub, a centralized management system. We want to grow with startups and companies in the new economy," Gonzalo says. According to him, the waiting list to open the digital account has more than 100 names.
And the plan is not to have a very extensive list of clients. Initially, the target audience is between 1,000 and 1,500 early stage and growing companies in Brazil. "The focus is not to be a product for SMEs, but to look at the founder and the CFO with a very close relationship," says the founder.
In tests done over the last few months, Kamino has managed to bring in companies with monthly expenses in the range of R$ 200 thousand. The attraction of clients has happened much by recommendation of the company's investors and by the partnership with the law firm Bronstein, Zilberg, Chueiri & Potenz (BZCP), which works with startups - and refers clients to it. "We want to continue with this profile of high volumes operating in the account, seeking high-value customers," says Gonzalo.
With a Visa card with a limit tied to the account balance and remuneration of 100% of the daily CDI, the account works on top of Dock's banking structure.
The territory of digital accounts for nascent and smaller companies has been the target of much attention from fintechs in recent times because of the little attention this audience receives from traditional banks. C6, Inter, Linker, and Cora are some of the names that have been looking at this segment from a more digital account perspective. Conta Simples, which has 60,000 clients, adopts a line of operating system, with services linked to the account. In August, the fintech made its first acquisition, buying Hackr Ads to help its clients better manage their digital marketing campaigns.
Kamino went live earlier this year backed by a $6.1 million round of participation from star funds. It reflects the experience of the team that joined the project, and also the excitement of the venture capital market. Since then, the scenario has changed a lot. Benjamin tells that he was in the USA talking to investors in May and the mood was pessimistic about everything that was happening in the world at that time.
Now, things are starting to move again, since the scenario is not as bad as imagined: "I think investors were afraid and needed to find where the ground was. Now there is a pickup. Whoever is a founder who would have raised before is going to keep raising. It's the ones who were the hype that won't roll over," he says.
Doing a round at this moment, however, is different from a few months ago. More careful and time consuming analysis by the VCs, smaller checks, more runaway perspective, less focus on unbridled growth and more control of the cash flow are some of the new requirements.
The offering closes the loop on the company's portfolio aimed at startups. Now, besides creating a legal structure outside Brazil (the famous Cayman-Delaware sandwich) and sending funds raised abroad to Brazil, companies can receive the money in the local account offered by the company.
According to Gonzalo Parejo, co-founder and president of Kamino, this makes life easier for founders and CFOs because it reduces paperwork and centralizes the relationship in one provider.
"We solved the access and receipt of funds first. Now we look at how to withdraw these funds. The idea is to have a broader vision in the future, with cash flow, returns, and automation," adds Benjamin Gleason, co-founder of Kamino.
The plan, however, is not to become a bank. "The idea is to be a financial hub, a centralized management system. We want to grow with startups and companies in the new economy," Gonzalo says. According to him, the waiting list to open the digital account has more than 100 names.
And the plan is not to have a very extensive list of clients. Initially, the target audience is between 1,000 and 1,500 early stage and growing companies in Brazil. "The focus is not to be a product for SMEs, but to look at the founder and the CFO with a very close relationship," says the founder.
In tests done over the last few months, Kamino has managed to bring in companies with monthly expenses in the range of R$ 200 thousand. The attraction of clients has happened much by recommendation of the company's investors and by the partnership with the law firm Bronstein, Zilberg, Chueiri & Potenz (BZCP), which works with startups - and refers clients to it. "We want to continue with this profile of high volumes operating in the account, seeking high-value customers," says Gonzalo.
With a Visa card with a limit tied to the account balance and remuneration of 100% of the daily CDI, the account works on top of Dock's banking structure.
The territory of digital accounts for nascent and smaller companies has been the target of much attention from fintechs in recent times because of the little attention this audience receives from traditional banks. C6, Inter, Linker, and Cora are some of the names that have been looking at this segment from a more digital account perspective. Conta Simples, which has 60,000 clients, adopts a line of operating system, with services linked to the account. In August, the fintech made its first acquisition, buying Hackr Ads to help its clients better manage their digital marketing campaigns.
Kamino went live earlier this year backed by a $6.1 million round of participation from star funds. It reflects the experience of the team that joined the project, and also the excitement of the venture capital market. Since then, the scenario has changed a lot. Benjamin tells that he was in the USA talking to investors in May and the mood was pessimistic about everything that was happening in the world at that time.
Now, things are starting to move again, since the scenario is not as bad as imagined: "I think investors were afraid and needed to find where the ground was. Now there is a pickup. Whoever is a founder who would have raised before is going to keep raising. It's the ones who were the hype that won't roll over," he says.
Doing a round at this moment, however, is different from a few months ago. More careful and time consuming analysis by the VCs, smaller checks, more runaway perspective, less focus on unbridled growth and more control of the cash flow are some of the new requirements.
