About CFO Stack sector in Brazil
The CFO Stack sector in Brazil comprises 439 companies, including 108 funded companies having collectively raised $537M in venture capital money and private equity. Out of these, 51 are Series A+ funded.
CFO Stack sector in Brazil has seen 29 acquisitions and 1 IPO. This represents almost 6.8% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes a collection of specialized tools and necessary systems/software that enable finance teams to effectively handle their daily tasks.
CFO Stack sector is also known as Tech Stack for Office of the CFO.
It includes software to automate major functions in CFO office like Financial Planning and Analysis, Budgeting, forecasting, treasury management, accounting, etc. It excludes all the Non-financial tools that do not integrate seamlessly with financial operations,.
Top CFO Stack Companies in Brazil
There are 439 CFO Stack startups in Brazil which include ContaAzul, Conta Simples, BHub, Flash Benefits, Caju. Out of these, 108 startups are funded, with 51 having secured Series A+ funding.
Over the past 10 years, an average of 23 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Stanford Business School, Stanford University and Harvard Business School.
Here is the list of top CFO Stack startups in Brazil
1. ContaAzul
ContaAzul provides a cloud-based accounting solution for SMBs. It features sales management, inventory management, invoice management, accounts payable/receivables management, financial reporting, etc. Offers multiple subscription plans depending on the number of users and invoices.
Key facts about ContaAzul
- Founded Year: 2012
- Location: Joinville (Brazil)
- Stage: Acquired
- Total Funding till date: $40.9M
- Investors: Ribbit Capital, 500 Global and 5 Others
- Latest Funding Round: Series D, Apr 03, 2018, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 4 of 3,434 Competitors
Digital bank for businesses. It offers multiple services including checking accounts, money transfers, bill payments, NFC-enabled corporate cards for online/offline purchases, and more. It also offers an app-based platform to manage payroll and payments. The application is available on iOS and Android devices.
Key facts about Conta Simples
- Founded Year: 2018
- Location: Sao Paulo (Brazil)
- Stage: Series B
- Total Funding till date: $68.1M
- Investors: JAM Fund, Y Combinator and 17 Others
- Latest Funding Round: Series B, Jan 09, 2024, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 1 of 19 Competitors
3. BHub
Cloud-based accounting administration solutions for SMBs. It features solutions for subscription management, accounting management, tax calculations, bookkeeping, payroll management, and more. It also offers financial reporting solutions.
Key facts about BHub
- Founded Year: 2004
- Location: Sao Paulo (Brazil)
- Stage: Series B
- Total Funding till date: $55.9M
- Investors: Valor Capital Group, Monashees and 15 Others
- Latest Funding Round: Series B, Nov 27, 2025, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 27 of 3,434 Competitors
Prepaid cards for corporate expenses and benefits. It provides tools for expense management, money transfers, and more. It can be used for services such as meal payments, travel expenses, and more. It also offers an app-based platform that is available on iOS and Android devices.
Key facts about Flash Benefits
- Founded Year: 2018
- Location: Sao Paulo (Brazil)
- Stage: Series C
- Total Funding till date: $22M
- Investors: Whale Rock Capital Management, Tiger Global Management and 5 Others
- Latest Funding Round: Series C, Mar 09, 2022, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 4 of 31 Competitors
5. Caju
Corporate cards for companies and employees. It features meal vouchers, transport tickets, subscription payments, and also enables the user to get rebates from retailers, including department stores, supermarkets, restaurants, and others. Its application is available for both Android and iOS devices.
Key facts about Caju
- Founded Year: 2019
- Location: Pinheiros (Brazil)
- Stage: Series B
- Total Funding till date: $39.5M
- Investors: Canary, Valor Equity Partners and 13 Others
- Latest Funding Round: Series B, Dec 19, 2024, $*****
- Tracxn Score: 57/100 What is this?
- Competitors Rank: 9 of 71 Competitors
Companies founded year-on-year in the CFO Stack sector in Brazil
43 CFO Stack startups in Brazil were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | - |
2024 | 4 |
2023 | 7 |
2022 | 14 |
2021 | 31 |
2020 | 43 |
2019 | 41 |
2018 | 27 |
2017 | 30 |
2016 | 36 |
Stage-wise distribution of CFO Stack sector companies in Brazil
Out of the total 439 CFO Stack companies in Brazil, 108 have secured funding. Among them, 51 have reached Series A or higher, and 37 to Series B or beyond.
Founded - 439
Funded - 108
Series A+ - 51
Series B+ - 37
Series C+ - 33
Company Stage | No. of companies |
|---|---|
Founded | 439 |
Funded | 108 |
Series A+ | 51 |
Series B+ | 37 |
Series C+ | 33 |
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Funding Trends in the CFO Stack sector in Brazil
Total funding year-on-year in the CFO Stack sector in Brazil
The CFO Stack sector in Brazil saw a total funding of more than $536M in the last 10 years. The most amount of funding was in 2022 at more than $165M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $47.4M |
2024 | $93.8M |
2023 | $14.8M |
2022 | $165M |
2021 | $126M |
2020 | $32.4M |
2019 | $7.14M |
2018 | $40.9M |
2017 | $8.13M |
Recent Funding Rounds in CFO Stack in Brazil
In the year 2025, till December 2025, CFO Stack companies in Brazil have raised $47.4M in equity funding across 7 rounds.
In the same period last year (i.e. till December 2024), CFO Stack companies in Brazil had raised $93.8M across 9 rounds.
So, 2025 has seen a 49.45% drop in funding in CFO Stack companies in Brazil as compared to 2024.
Here are some recent, important funding rounds in CFO Stack companies in Brazil:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 2578 | Dec 16, 2025 | ||
Series B | 4988 | Nov 27, 2025 | and 3 more | |
Seed | 8080 | Aug 29, 2025 | ||
Series A | 6417 | Jul 31, 2025 | and 1 more | |
Series A | 2736 | May 02, 2025 | - |
Top Investors in CFO Stack in Brazil
Plug and Play Tech Center is the top investor in CFO Stack companies in Brazil based on number of companies invested.
Here are some top investors in CFO Stack companies in Brazil:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Sao Paulo (Brazil) | ||
San Francisco (United States) | ||
Menlo Park (United States) | - | |
New York City (United States) | - |
M&A activity in CFO Stack sector in Brazil
In the year 2025, till August 2025, 2 acquisitions happened in CFO Stack sector in Brazil. Last year, in 2024, a total of 6 acquisitions happened in CFO Stack sector in Brazil.
Here are some recent, important acquisitions in CFO Stack sector in Brazil:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Aug 01, 2025 | ||
Business Acquisition | May 28, 2025 | ||
Business Acquisition | Dec 10, 2024 | ||
Business Acquisition | Sep 09, 2024 | ||
Business Acquisition | Aug 09, 2024 |
Acquisition trends in CFO Stack sector in Brazil
Here are the acquisition trends in CFO Stack sector in Brazil:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 2 |
2024 | 6 |
2023 | 7 |
2022 | 4 |
2021 | 4 |
2020 | 4 |
2019 | - |
2018 | - |
2017 | - |
Colleges which produce the most CFO Stack companies in Brazil
Companies founded by alumni from top colleges in the CFO Stack in Brazil
Most number of CFO Stack startups in Brazil have been founded by alumni from Stanford Business School, Stanford University and Harvard Business School.
College | No. of companies |
|---|---|
Stanford Business School | 2 |
Stanford University | 2 |
Harvard Business School | 1 |
Harvard University | 1 |
Pontifical Catholic University of Rio de Janeiro | 1 |
University of California (Berkeley) | 1 |
Total funding in CFO Stack companies founded by alumni from top colleges in Brazil
In the last 10 years, Stanford Business School and Stanford University graduates' CFO Stack companies in Brazil have raised the most funding among top colleges, and University of California (Berkeley) alumni are third.
College | Total Funding |
|---|---|
Stanford Business School | $31.2M |
Stanford University | $31.2M |
University of California (Berkeley) | $22M |
Harvard Business School | $20M |
Harvard University | $20M |
Pontifical Catholic University of Rio de Janeiro | $7.63M |
Top News in CFO Stack in Brazil
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Conta Simples Appoints New Chief Technology OfficerFinsidersbrasil•Feb 21, 2025•Conta Simples, Cielo, Bexs, Ebury
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Thales and Caju Join Forces for Sustainable Payment Solutions in BrazilEuropaWire•Jan 24, 2024•Thales, Caju
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SafeGuard Cyber Welcomes Aliant to its Illuminate Partner Program for MSSPsBusiness Wire•Jul 27, 2023•SafeGuard Cyber, Aliant
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Marvin hires Jader Campos as CTO and Jhenyffer Pelissari as Product Directorfintechsbrasil.com.br•Jul 07, 2023•Marvin, Meubank
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Marvin brings in Henry Maeda, former CSO of Ambev’s fintech, to head up the growth and partnerships areafintechsbrasil.com.br•Jul 19, 2022•Marvin, com.br
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Biometric retail payments set for major push with Mastercard platform launchBiometricUpdate.com•May 21, 2022•Mastercard, PayFace
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Brazilian startup Flash raises US$ 100 million in investmentsTecMundo•Mar 10, 2022•Flash Benefits, Battery Ventures, Whale Rock Capital Management, Tencent and 5 others
