Entre Group includes PraJá in its portfolio of companies

Grupo Entre, an ecosystem of companies focused on the means of payment market, has made R$50 million available in credit lines for PraJá, a fintech for service providers that has joined its portfolio, alongside companies such as EntrePay, Leads Securitizadora and WMoney. The information was published on Monday 16th on the portal Finsiders Brasil.

According to Grupo Entre, the funds will accelerate the fintech's growth. PraJá makes advance payments to service providers in different sectors, including on-call doctors, furniture and appliance installers, logistics professionals and/or agents.

In 2023, PraJá made more than R$20 million in advance payments. This represents an average of more than 2,000 transactions per month, with values ranging from R$70 to R$50 thousand. With the Entre Group joining the business, Ricardo Cotrim, PraJá's president, says that the expectation is for strong acceleration.

The executive told Finsiders Brasil that there will be investment in marketing, sales and technology. He also foresees greater access to financial resources and opportunities for synergies with other companies in the group.

"PraJá has immense growth potential, great complementarity and synergy with other companies in which we invest, as well as being aligned with our proposal to contribute to the democratization of financial services in the country," Antonio Freixo, Mineiro, CEO of Grupo Entre, told the publication.

Receivables - PraJá's business model is based on partnerships with large and medium-sized companies, which depend on many service providers to serve the end customer. With PraJá's support, these clients now offer their providers and suppliers the possibility of advancing their receivables through the platform, instead of waiting the usual 90 days.

According to Ricardo Cotrim, Prajá's differential is that it advances funds to service providers who, unlike businesses, don't have an invoice to back them up. "For our clients, the advantage of the model is to present the advance as a differential in attracting new service providers and maintaining a closer relationship with them, without compromising cash flow and with less bureaucracy compared to the big banks."