BOND, the Brazilian artificial intelligence fintech focused on automating accounting for small and medium-sized businesses, closed a pre-seed round of approximately US$2 million just four months after its founding.
Propel Venture Partners led the round. This American fund has already invested in Brazil in companies such as Nomad and Neon. Kiara Capital, Norte Ventures, Hypersphere and Patrick Sigrist, one of the founders of iFood, also participated in a personal capacity.
Matheus Oliveira, one of Loft’s first employees and founder of the management company FW Capital in 2022, co-founded the startup with Gabriel Jordão, who worked for 14 years at JusBrasil as a programmer and product director. Both identified an underserved segment: SMEs with revenues between US$720,000 and US$10 million that receive poor accounting service and often end up paying more taxes than they should.
A market of 100,000 offices that invests little in technology
Brazil has more than 100,000 accounting offices, mostly small. Many use ERP software created in the 2000s and do not have generational succession plans. While startups like Contabilizei and Agilize serve microbusinesses and independent workers well, the SME segment was left behind.
“Most accountants are older, they do not have a succession plan and that is why they invest little in the business,” explained Matheus Oliveira, CEO of BOND. According to him, the opportunity is in that service gap that no one solves with real technology.
AI that powers the counter, not replaces it
BOND operates as a full-service accounting firm and offers accounting, tax and payroll services with AI as an operational differential. In the most personalized processes, an accountant serves the client with the support of the platform, which multiplies their capacity. In operational processes, the company automates everything.
A concrete example: a dismissal simulation that in a traditional firm can take until Tuesday if requested on a Friday, at BOND is delivered in minutes. The generation of guides to split Simples Nacional payments, another process that usually involves lines and delays, is resolved in a few clicks.
With the resources from this round, BOND seeks to continue developing the product, expand its automations and begin its commercial expansion. The startup is also evaluating acquiring client portfolios of accounting firms, a common practice in the sector that could accelerate its growth inorganically.
