Avalia Systems conducted the Software Due Diligence for Movile, a global leader in mobile marketplaces, in their recently announced investment in payments fintech Zoop.
Avalia provided a comprehensive due diligence of Zoop’s software code, development processes, and teams, recommending actions to improve these areas and accelerate the delivery of business goals envisioned by Movile.
Movile has over USD 250 million in capital raised from investors such as Naspers, owners of 33% of China’s Tencent, and Innova Capital. Zoop is an open platform for payments and financial services with funds raised previously from Qualcomm Ventures, Riverwood Capital, Darwin Capital, and Avalancha Ventures.
Reported in the media at over USD 18 Million, this investment is part of Movile’s mission to improve the life of 1 billion people by leveraging synergies between their portfolio companies and delivering an optimised experience to their users.
Thomas Barth Head of Payments at Movile
Avalia delivered in two weeks insights that would otherwise have taken months of due diligence. Their recommendations focused on business impact and their ability to drill down to real data was very valuable for us in this deal.
Movile sees enormous growth potential in the electronic transactions sector throughout Latin America and the partnership with Zoop will allow companies that are part of the Movile group to provide innovative payment solutions, reducing the transaction costs and improving cash flow.
A key initiative, for example, is the plan for iFood, Movile’s portfolio company and Latin America’s leader in food delivery with over 6 million meals requested per month, to launch a POS terminal and introduce flexible payment terms for their partner restaurants.
Created in 2013, Zoop has over 50 employees and helps their partners create personalised payment solutions through their white-label platform. Companies such as e-commerce sites, content providers, and solution providers use Zoop’s technology with over 160 APIs, to create their own payments and financial services, including processing credit and debit card payments in POS terminals, apps, and websites.
Avalia’s platform uses machine learning and other techniques to identify areas of risk and value in the code, development teams, and processes. The system co-relates data from tools used by software development teams such as Github, Trello, and Jira, as well as static code analysers and CRM systems. Experts then conduct meetings to deep dive in the most important topics with the company, define a post-deal action plan, and track the progress of these areas afterwards.
Avalia is a Swiss company that helps investors make better informed decisions in tech M&A, private equity, and venture capital deals while protecting the intellectual property of the organisations receiving these investments.
The same technology enables software development teams to improve their productivity with tools to run data-driven retrospective meetings, gamification of developer OKRs, and agile coaching.