May 2026
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Largest B2B SaaS Public Companies in Brazil
Benchmark revenue and EBITDA valuation multiples for public comps like
TOTVS, Vtex, Locaweb, Valid and CSU Digital.
 | Totvs SA is a provider of information technology solutions to small and medium enterprises in the education, government, healthcare, and retail end markets. The Company's business purpose is to provide business solutions for companies of all sizes, through the development and sale of management software, productivity platforms, collaboration, and data intelligence, digital marketing, as well as the provision of implementation, consulting, advisory, maintenance services, e-commerce, and mobility. The Company operates in three reportable segments, which include the TOTVS Management segment, the RD Station segment, and the TOTVS Techfin segment. The majority of its revenues is generated from the TOTVS Management segment. | $6 | -23% | $4B | $4B | 3.8x | 13.2x | ||
| Vtex provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce plan, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. It generates maximum revenues from Brazil followed by Latin America and the rest of the world. | $4 | -44% | $610M | $419M | 1.7x | 17.3x | ||
| Locaweb Servicos de Internet SA is a Brazil-based software company. It offers digital marketing, cloud, and accommodation services such as website hosting, WordPress hosting, domain registration, and email services. The operations of the Company and its subsidiaries are divided into two operating segments: Be Online and SaaS and Commerce. The Be Online and SaaS segment includes hosting and cloud services, as well as those called SaaS (email, marketing intelligence software, and site builder). The Commerce segment includes e-commerce solutions, platforms, marketplace integration, and sub-acquiring business services. | $1 | +1% | $399M | $356M | 1.2x | 5.5x | ||
| Valid Solucoes SA Formerly Valid Solucoes eServicos de Seguranca em Meios de Pagamento e Identificacao is engaged in the printing industry, which includes systems that include electronic, plastic, and magnetic cards, card encoding, and development, implementation, and execution of electronic document management projects. The reporting segment is Means Of Payment, which consists of cards for purposes like payments, identification, and customization. The identification segment provides physical and electronic solutions. The mobile segment offers solutions like instant lottery tickets, digital certification that offers products, services, consulting, and technology for the issue, and the use of private and Brazilian government-certified digital certificates. | $3 | -34% | $270M | $289M | 0.7x | 3.3x | ||
| CSU Digital SA operations comprise the provision of credit card processing and multiple-use services, management and operationalization of telemarketing and telesales (contact centers), telebilling, credit analysis, development and operational management relationship, loyalty, and customer acquisition programs. It has two operating segments: CSU Pays and CSU DX and the majority of the revenue comes from CSU Pays. | $3 | 0% | $144M | $155M | 1.2x | 4.3x | ||
| Xp Industrial Fundo Investimento Imobiliario is a closed-end fund with an indefinite term. The fund's investment objective is to generate income and capital gains through the operation of one or more real estate ventures, by acquiring industrial and/or logistics real estate assets, including properties for later construction, properties under construction, or completed properties, for subsequent sale, lease, or rental. | $13 | -2% | $94M | $94M | 11.5x | — | ||
| Neogrid Participacoes SA is engaged in investing in other companies or partnerships, businesses and undertakings of any nature. The company is focused on Software as a Service (SaaS), data and technology that solves key challenges for the supply chain. With solutions that integrate and synchronize operations of manufacturers, distributors, and retailers, it ensures that products are well distributed, sized and allocated. increasing the efficiency of customers, reducing the high costs related to waste and inventory shortages and excesses and freeing up working capital. Offering SaaS solutions is the primary source of revenue generation through subscription to the Neogrid solution platform. | $7 | -- | $59M | $37M | 0.7x | 5.4x | ||
| Infracommerce Caxaas SA is the largest full service company for digital businesses and works with the modular concept, bringing together platform, marketing, content, payment, logistics and SAC in three core competence cores: Omnichannel Platform, Marketing and Sales and Operations. | $0 | -98% | $17M | $84M | 0.6x | (3.7x) | ||
| Nvni Group Ltd is a holding company that conducts all of its business through Nuvini SA and Nuvini acquired companies. Nuvini S.A. acquires and operates software companies within SaaS markets in Brazil. Nuvini S.A. is the private serial software business acquirer in Brazil and intends to use funding and capital markets access to continue expanding its acquisition plans in Brazil and Latin America. The Company has determined that it has a single operating and reportable segment which is multi-vertical SaaS solution model. | $1 | -66% | $14M | $24M | 0.6x | (7.2x) | ||
| Zenvia Inc provides a platform that enables companies to create journeys for their end customers across a variety of channels. The company operates in two reportable segments namely CPaaS and SaaS. It has a geographic presence in Brazil, the USA, Argentina, Mexico, and Others. The company generates the majority of its revenue from Brazil. | $0 | -87% | $9M | $22M | — | — | ||
| Semantix Inc is a fully integrated data software platform. It develops solutions in the Data Driven model, for organizations that need to be one step ahead using the latest technology. The company generates majority of the revenue from Brazil. | $0 | -- | $8K | $8K | — | — | ||
| Median | $3 | -34% | $94M | $94M | 1.2x | 4.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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