18/07/2024

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Sinapse Finance Acquires Uptick to Create One-Stop Shop for Small Businesses

Sinapse Finance Acquires Uptick to Create One-Stop Shop for Small Businesses

Sinapse Finance, a Brazilian startup specializing in technology-based financial management, has acquired Uptick, a Brazilian accounting firm.

This acquisition marks a milestone for Sinapse as it expands its operations and offerings in the financial and accounting sectors for small and medium-sized businesses (SMBs), the company said in a Thursday (Sept. 14) blog post, translated from the Portuguese by Google.

With the integration of Uptick’s operations, Sinapse now offers a complete platform, becoming a “one-stop shop” for finance, according to the post. This merger creates a company with 77 employees, over 170 clients and a comprehensive service portfolio.

Uptick has gained recognition for its approach to accounting services, the post said. The company’s structure is based on multidisciplinary squads, enabling faster and more efficient service while maintaining high standards.

As part of the acquisition, Fernando Ribeiro, the founder of Uptick, will join Sinapse as a partner, leading the accounting and financial BPO (business process outsourcing) operation, per the post.

Sinapse Finance’s service portfolio now includes CFO As A Service, BPO Financeiro, the Sinapse process automation platform and accounting services, according to the blog post.

“We at Sinapse welcome Uptick customers team and partners to our ecosystem,” the company said in the post. “Let’s together create a world in which entrepreneurs can focus on growing their business, without worrying about the financial area.”

PYMNTS Intelligence has found that Brazil has become a leader in the adoption of both digital banking and digital payments.

Ninety-eight percent of bank customers in the country leverage some form of digital banking, according to the “Digitizing Payments in Latin America Playbook,” a PYMNTS and Kushki collaboration.

In addition, more than half the country’s consumers use Pix, the Brazilian government and central banking system’s instant payments platform, the report said.

In another report, PYMNTS Intelligence found that SMBs around the world are looking for digital support as they retool their businesses for growth. Among the things they are seeking are advisory support and financing that will help them alter their business and operating models to drive profitability and growth, according to “Digital Banking Rises to Meet SMB Needs,” a PYMNTS and NCR collaboration.