CERC Central de Recebíveis Valuation, Funding & Investors

CERC Central de Recebíveis is valued at $302M as of November 2022.

Last CERC Central de Recebíveis valuation

$302M

Series D · Nov 2022

Last CERC Central de Recebíveis funding round

Strategic investment

Amount undisclosed · Dec 2024

Cumulative funding CERC Central de Recebíveis raised

$121M

across 5 funding rounds

Key investors in CERC Central de Recebíveis

  • Valor Capital Group
  • Serasa Experian
  • GP Inova FIP Multiestratégia
  • Endeavor Catalyst
  • Mubadala
  • Torq

CERC Central de Recebíveis Overview

About CERC Central de Recebíveis

CERC Central de Recebiveis is a Brazilian financial market infrastructure company founded in 2015 and based in Sao Paulo. It is authorised by the Central Bank of Brazil to operate as a registry of receivables, recording credit card receivables, duplicatas, bank credit notes and other assets that are pledged as collateral, so that lenders can see which receivables are already encumbered. The registry reduces fraud and credit risk and widens access to credit for companies. It also sells data products for credit decisions, which in 2025 grew faster than registration services. In 2025 the company reported net revenue of BRL 228.7 million, up 21 percent, and registered volume of BRL 387.6 billion. Shareholders include Parallax Ventures, Valor Capital Group, GP Investments through G2D, Mubadala Capital and Serasa Experian, which agreed in late 2024 to hold about 9.15 percent.


Founded

2015

HQ

BrazilSão Paulo

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Valuation

$302M (Nov 2022)

CERC Central de Recebíveis Valuation

CERC Central de Recebíveis is currently valued at $302M, based on its Series D in November 2022. Read the announcement ↗

The $104M round was led by Mubadala, with participation from Endeavor Catalyst, Serasa Experian and Valor Capital Group.

CERC Central de Recebíveis valuation by funding round

CERC Central de Recebíveis valuation by funding round
DateStageValuation
Nov 2022Series D$302M

CERC Central de Recebíveis Funding History

CERC Central de Recebíveis has raised a total of $121M across 5 funding rounds.

CERC Central de Recebíveis' first fundraising round was a $5M Series A in September 2019. The most recent completed round was a strategic investment round in December 2024.

CERC Central de Recebíveis funding rounds

CERC Central de Recebíveis funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024Strategic investmentSerasa Experian--Serasa Experian agreed to take a minority holding of about 9.15 percent in CERC, the Brazilian receivables registry, in a transaction submitted to the antitrust regulator CADE at the end of December 2024. The structure has two steps: Serasa first acquires shares equal to 3.44 percent of CERC's capital, and CERC then issues class F preferred shares to Serasa through a capital increase, leaving it with approximately 9.15 percent of the total. The price was not disclosed. The investment followed a strategic partnership announced by the two companies in October 2024 to widen credit access for companies using receivables as collateral. CERC is a Sao Paulo company founded in 2015 and authorised by the Central Bank of Brazil as a registry of receivables, which was valued at BRL 1.6 billion pre-money in its 2022 round led by Mubadala Capital. Serasa Experian is Brazil's largest credit bureau.
Nov 2022Series DMubadala (lead); Endeavor Catalyst; Serasa Experian; Valor Capital Group$104M$302MCERC (Central de Recebíveis) is a Brazil-based fintech providing infrastructure for the financial market, specializing in registering assets such as credit card receivables, and aiming to expand into depositary, clearing services, and a marketplace for duplicatas, agribusiness receivables, bank bonds, and real estate receivables. The company is also developing data products for corporate credit granting and blockchain-based solutions like asset tokenization. It competes with players like CIP (bank certifier), Tag (from Stone), and B3 in certain asset classes. Early seed investors included Fabio Barbosa (Natura&Co CEO), Marcos Lisboa (Insper president), José Bonchristiano (Tempo Participações founder), and G2D Investments holding 3.4%. In October 2022, Mubadala Capital led a funding round of approximately R$550 million (around USD110 million), with participation from existing investor Valor Capital Group following their 2020 investment. The deal valued CERC at R$1.6 billion pre-money, granting Mubadala about 23% ownership. Funds are to be deployed in two tranches, with the majority upfront and the rest conditional. Other investors mentioned in context include Endeavor Catalyst and G2D Investments. CERC plans to use proceeds to evolve into a one-stop shop for market infrastructure, pursuing regulatory approvals from the Central Bank of Brazil for depositary and clearing roles. The round aligns with Mubadala's growing activity in Brazil across energy, infrastructure, and education sectors.
Sep 2021Undisclosed stageGP Inova FIP Multiestratégia--CERC received a further equity investment in September 2021 through GP Inova Fundo de Investimento em Participações Multiestratégia, the investment vehicle through which G2D Investments held its position in the company. G2D’s interim financial statements disclosed a contribution of approximately US$3.7 million in the investment round. The filing also reported a revaluation of the position following the transaction, which is distinct from the amount of capital contributed. CERC develops technology infrastructure for Brazil’s credit markets, including registration and validation services for financial receivables. Its systems are intended to improve the security and efficiency of credit transactions backed by receivables and other financial assets. The investment followed the platform’s initial August 2020 financing involving the same fund and preceded the later financing led by Mubadala Capital in 2022. The available disclosure establishes G2D’s participation through its investment fund, but does not identify the complete syndicate or the aggregate capital raised in the September round.
Aug 2020Series AGP Inova FIP Multiestratégia; Valor Capital Group$12M-CERC raised BRL 67.7 million in August 2020 in its largest round to that point, with Valor Capital, GP Investments and existing shareholders investing. The fund through which GP Investments' G2D vehicle participates took part, and the proceeds were to finance expansion of the company's asset-registration business lines. The round followed the BRL 20 million raised in September 2019 and preceded the 2022 round led by Mubadala Capital. CERC is a Sao Paulo fintech founded in 2015 and authorised by the Central Bank of Brazil as a registry of receivables, which lets lenders see which receivables are already pledged and so reduces fraud and credit risk. It built its business on the registration of credit card receivables and has been extending the same infrastructure to other financial assets and to data products for credit decisions.
Sep 2019Series AParallax Ventures (lead); Fábio Barbosa; Torq$5M-CERC raised BRL 20 million in September 2019 from Parallax Ventures, which had invested in an earlier round, an undisclosed new investor and existing shareholders. Earlier backers included the angel investors Fabio Barbosa of Santander, Marcos Lisboa of Insper, Gustavo Roxo of BTG Pactual and Jose Bonchristiano of Tempo Participacoes. The proceeds were intended to fund expansion into new business areas beyond the registration of card receivables. CERC is a Sao Paulo fintech founded in 2015 and authorised by the Central Bank of Brazil to operate as a registry of receivables used as collateral in credit operations. It provides financial market infrastructure that lets lenders verify receivables, helping companies value them, reduce fraud and credit risk and manage cash flows. The company was later backed by Valor Capital Group, GP Investments, Mubadala Capital and Serasa Experian.

Who has invested in CERC Central de Recebíveis?

8 investors have backed CERC Central de Recebíveis across its funding rounds, including Valor Capital Group, Serasa Experian, GP Inova FIP Multiestratégia, Endeavor Catalyst, Mubadala and Torq.

Lead investors include Mubadala and Parallax Ventures.


CERC Central de Recebíveis Investors

Investors in CERC Central de Recebíveis by funding rounds participated
InvestorHQRoundsRoleFirst check
GP Inova FIP MultiestratégiaBrazilBrazil2ParticipantAug 2020
Serasa ExperianBrazilSão Paulo2ParticipantNov 2022
Valor Capital GroupUnited StatesNew York City, NY2ParticipantAug 2020
Fábio Barbosa--1ParticipantSep 2019
Endeavor CatalystUnited StatesNew York City, NY1ParticipantNov 2022
TorqBrazilSão Paulo1ParticipantSep 2019

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by CERC Central de Recebíveis

CERC Central de Recebíveis has acquired 1 company to date.

Last acquisition by CERC Central de Recebíveis was on June 4th 2024. CERC Central de Recebíveis acquired Antecipa for undisclosed valuation.


Latest Acquisitions by CERC Central de Recebíveis

Antecipa
Description
Antecipa is a São Paulo-based fintech platform that integrates prepayment solutions directly into ERP systems such as SAP and Totvs for large Brazilian corporations. The service enables buyers with excess cash to anticipate supplier receivables at dynamic discount rates tailored per vendor and transaction, mitigating adverse selection. This positions Antecipa as a flexible alternative to traditional short-term investments, with no fixed fees or usage commitments. For firms lacking liquidity, it functions as a pricing tool for extending credit via risco sacado or FIDC structures. Launched in 2018, Antecipa processes billions in transactions annually, serving major retailers and manufacturers across Brazil while ensuring full buyer control over allocations.
HQ CountryBrazil
HQ City
Salvador
Deal Date4 Jun 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Investments by CERC Central de Recebíveis

CERC Central de Recebíveis has invested in 1 company to date.

Latest investment by CERC Central de Recebíveis was on August 27th 2026. CERC Central de Recebíveis invested in Kapwork in their Seed round.


Latest Investments by CERC Central de Recebíveis

Kapwork
Description
Kapwork is a technology firm that runs an artificial intelligence platform for invoice factoring. It performs verification and matches small businesses with buyers.
HQ CountryUnited States
HQ City
San Jose, CA
Deal Date27 Aug 2026
RoundSeed
Raisedundisclosed
InvestorsSaaSholic
Valuationundisclosed
EV/Revenue
EV/EBITDA

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CERC Central de Recebíveis Competitors

CERC Central de Recebíveis competitors include listed companies like Leonteq and Indian Energy Exchange, and private ones like Solayer, Maybern, Prime Trust and Stedi.

Public and private companies comparable to CERC Central de Recebíveis
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SolayerUnited StatesSan Francisco, CAPrivate--$350M-
MaybernUnited StatesNew York City, NYPrivate$10M-$240M24.0x
LeonteqSwitzerlandSwitzerlandPublicly listed$217M$12M$416M7.1x
Prime TrustUnited StatesLas Vegas, NVPrivate--$214M-
StediUnited StatesNew York City, NYPrivate--$200M-
Indian Energy ExchangeIndiaIndiaPublicly listed$65M$64M$1B10.4x

CERC Central de Recebíveis Public Comps

CERC Central de Recebíveis is still privately-owned, but its public comps include EUWAX, Leonteq, Finexity, Stock3, AlJazira Mawten, Norwegian Block Exchange, AtlasClear Holdings, Spotlight Group, Tick Trading Software and Indian Energy Exchange.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
EUWAX$93M-3.0x---
Leonteq$217M$12M8.6x7.1x156.7x-
Finexity$2M($1M)28.3x5.0x(36.6x)(10.8x)
Stock3$15M$2M2.2x-16.5x-
AlJazira Mawten$2M$1M15.7x-20.3x-
Norwegian Block Exchange$2M($1M)9.1x-(14.3x)-
AtlasClear Holdings$20M$7M1.0x0.9x3.2x(13.4x)
Spotlight Group$11M$2M1.9x-9.6x-

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Common questions about CERC Central de Recebíveis

When was CERC Central de Recebíveis founded?CERC Central de Recebíveis was founded in 2015.
Where is CERC Central de Recebíveis headquartered?CERC Central de Recebíveis is headquartered in São Paulo, Brazil.
Is CERC Central de Recebíveis publicly listed?No, CERC Central de Recebíveis is a private, VC-backed company.
What is CERC Central de Recebíveis' valuation?CERC Central de Recebíveis was last valued at $302M in its Series D in November 2022.
How much funding has CERC Central de Recebíveis raised?CERC Central de Recebíveis has raised $121M across 5 funding rounds.
What was CERC Central de Recebíveis' last funding round?CERC Central de Recebíveis' last funding round was a strategic investment round in December 2024.
Who are CERC Central de Recebíveis' investors?CERC Central de Recebíveis' investors include GP Inova FIP Multiestratégia, Serasa Experian, Valor Capital Group, Fábio Barbosa, Endeavor Catalyst, Torq, Mubadala and Parallax Ventures.
Which companies are comparable to CERC Central de Recebíveis?Companies comparable to CERC Central de Recebíveis include Solayer, Maybern, Leonteq, Prime Trust, Stedi and Indian Energy Exchange.
How many companies has CERC Central de Recebíveis acquired?CERC Central de Recebíveis has acquired 1 company, including Antecipa.
How many companies has CERC Central de Recebíveis invested in?CERC Central de Recebíveis has invested in 1 company, including Kapwork.
What was CERC Central de Recebíveis' last investment?In August 2026, CERC Central de Recebíveis invested in Kapwork's seed round alongside SaaSholic.

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