Beepay, the Brazilian startup that combines retailtech and fintech to digitize the purchasing process in physical stores, closed a seed round of approximately US$400 thousand, led by Comunitá, the corporate venture capital vehicle of the Sicredi cooperative bank. The round also included the participation of ACATE Invest and the Ventiur accelerator, which had already accompanied the development of the company in previous stages.
The startup was founded by Renata Costa, who leads the company as CEO with the vision of building the autonomous retail operating system of the future. Its technology allows consumers to buy products by scanning them with their cell phone or at self-service totems, without going through a checkout staffed by people, integrating means of payment and identification in a single flow. Today it operates in condominium minimarkets, hotels, physical stores and corporate spaces, with nearly 170 clients in its portfolio.
AI to personalize the in-store experience
A relevant part of the capital will be allocated to the implementation of artificial intelligence as a business element, collecting and processing data to create real-time connections and personalization within the physical point of sale. The goal is for each consumer interaction with the store to generate actionable information for the merchant.
“We are building the autonomous retail operating system of the future, and having strategic partners like Comunitá and Ventiur by our side gives us the smart money necessary to scale solidly,” said Costa. Sicredi’s commitment goes beyond financial return: the thesis is to connect Beepay’s solution to the ecosystem of its cooperatives to digitize local entrepreneurs, many of them micro and small businesses.
National and international expansion on the horizon
With this financing, Beepay aims to strengthen its presence in Brazil and plans to reach operational break-even in the next 18 months. In parallel, the company is already taking its first steps towards internationalization through one of its current clients, opening a way to take its autonomous checkout technology beyond Brazilian borders.
