The Asaas, financial solutions and management platform for SMEs, has just released its financial and operational results for 2024.
The year 2024 marked a historic chapter for Asaas, with significant achievements and strategic advances. The highlight is the largest and most important financial contribution we have ever received – also the largest in Latin America –, at the amount of R$820 million. We achieved our initial projections and moved forward towards the long-awaited IPO, expanding our market and assisting over 19,000 clients in managing their businesses intelligently.
We recorded a 103% growth in Total Payment Volume (TPV), that reached R$43,5 billion, facing R$21,4 billion from the previous year. Our gross revenue reached R$339,5 million, a 54% increase, while net profit advanced significantly, totaling R$11,5 million. Although the revenue may seem modest compared to the over 100% increase in GMV, our BaaS (Banking as a Service) solution stands out for its robustness, attracting major players who operate with high transaction volume and reduced fees. This factor explains the rapid growth of TPV relative to gross revenue
Definitely, this was a year of achievements and expansion for Asaas. For the first time, We attracted international funds and further consolidated ourselves as the largest provider of financial technology solutions for SMEs in Brazil. Our goal is to surpass R$1 billion in annual revenue by 2026 and exceed R$2 billion by 2027, Piero Contezini affirmed, co-founder and president of Asaas.”
The 2024 financial results show significant growth and the overcoming of operational challenges, consolidating the company with a prominent position in the sector. See below a summary of the main data
- The growth of GMV reflects the expansion of the customer base and greater adoption of the company's solutions. The total volume of payments processed by Asaas reached R$ 43,5 billion, more than double the amount transacted in 2023
- The company had a gross revenue of R$ 339,5 million, a 54% increase compared to the previous year
- Asaas recorded a profit of R$ 11,5 million
- The company's profitability improved significantly: the net margin, that used to be negative in -2,3%, went up to 3,7%
- The gross margin increased by 3,5 percentage points to 65,6% in 2024, what demonstrates greater efficiency in direct costs
- The contribution margin, what reflects the profit obtained after covering variable costs, showed a growth of 67%, earning R$ 186,3 million.”
Asaas's performance in 2024 was robust, with rapid and sustainable growth in both revenue and transaction volume
"For 2025, our expectation is to continue growing in a responsible and sustainable manner, while strengthening and expanding our product portfolio, gradually accelerating our growth with the use of the investment we received. We have operational efficiency on our side, that we work hard to achieve. Now, to continue this way, improving the customer experience and ensuring the sustainability of the expansion, walking towards the IPO that will arrive soon, Contezini ends
