Avalia Systems performed the Software Due Diligence for Innova Capital’s R$85 million investment in fintech Celcoin.
Innova Capital will support Celcoin to further accelerate their growth and advance their strategy to become a “one-stop-shop” for banking and financial services. Avalia Systems has a wealth of experience in the fintech space, having performed Software Due Diligence for such market leaders as Porto Seguro in their acquisition of fintech Atar B2B and Carrefour Brasil’s acquisition of fintech Ewally, to name a few.
Avalia Systems provided Innova Capital with valuable data, rich discussions on technical priorities, and clear direction in the Software Due Diligence.
Marcel Vitor Santos Partner at Innova Capital
“Avalia Systems are trusted advisors. They understood the urgency of our timeline to move on the target and conducted the software due diligence assertively, providing valuable data to support our investment decision and enabling us to close the deal with greater confidence. They also sparked a rich discussion of technical priorities that would streamline our investment thesis, providing a clear direction that was especially valuable to us.”
Innova Capital is a private growth equity firm that has been investing in tech companies with high-growth potential around the world for over a decade, including: Movile, Ifood, ClearSale (B3: CLSA3), Snap (NYSE: SNAP), Alpha Capital (NASDAQ: ASPC), Accera, Sigga, and Bom Pra Crédito.
Celcoin was founded in 2016 with the goal of democratising access to financial services for millions of Brazillians. Their digital platform Rede Celcoin enables prepaid financial product and service transactions, reaching 3.5 million clients monthly. They also provide banking infrastructure to fintechs and other companies looking to add financial components to their operation, integrating their solutions into the customer’s platform through APIs.
For fintechs, the trend toward software modernisation is an important one. It enables them to take advantage of a more flexible software architecture to get the most out of costly cloud resources and better serve their clients.
Avalia’s experience in this area informs every Software Due Diligence, which involves a comprehensive review of software modernisation action plans and their delivery timelines to help companies to stay on track to achieve their business goals.
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