Open finance platform Klavi earns 10 times more in 2022
Klavi is an open SaaS B2B finance platform specializing in financial data processing and knowledge generation, which started operations in 2020. In 2022, fintech recorded revenues ten times higher than in 2021 and for this year is expected to have an increase between five and ten times greater than last year. With more than 40 active clients in its portfolio, including large, medium and small banks and fintechs, Klavi connected more than 3 million people to its services in 2022 – that is, 3 million people gave consent to to connect to the Klavi platform. receive new and customized products and services from another financial institution.
The main service offered by Klavi is linked to the credit score. When a person authorizes the fintech to access their financial data, they are able to assess the details – how much they earn, the day they receive it, whether they have contracted loans, how many sources of income they have – so that the bank or contracting company can offer products directed at your profile.
“When the user gives consent for us to access their bank account, we do some summaries to understand where the person spends. We do the credit assessment. And the final product that we offer is a booking of variables, which are summaries of your financial life, including the point”, explains Bruno Chan, CEO of Klavi, in conversation with Mobile Time.
There are also banks and fintechs that end up using the financial profile data made by Klavi to create their own credit score.
“We are an open provider of financial data to improve credit scores and enable companies to offer products to their customers. For smaller fintechs, they lack the customer data to offer a product that is more compatible with their profile,” explains Chan.
In addition to credit scores, Klavi offers financial management, personal loans and soon insurance. “There are no insurance options. And we understand that open finance can help,” says the CEO.
“Our focus remains financial data. With them we know the person’s consumption and income. And this information can be used in insurance companies. What we offer is to apply open finance data to insurers so that they can offer better and more personalized products. “What we believe is that data from the open financial system can help any company, even a retailer that sells on credit or a clothing store that opens with credit cards. Every company can benefit,” he adds.
One use case for Klavi is with Zippi, a credit startup for the self-employed. Because it is a public with difficulties in proving income and with an unstable cash flow, Klavi provides financial information. “These people have to give their consent so we can share their data, of course, but we were able to give loans to tens of thousands of people thanks to open finance data throughout 2022, with limits up to R$ 1 thousand”. , he says. “Hundreds of thousands of accounts are linked through Klavi”, he adds.
Fintech recently passed a Series A investment round. Around BRL 75 million was raised and the amount will be used to expand staff – currently 65 people –, create new products, accelerate use cases to market and attacked segments such as lending, scoring and insurance.
“We are optimistic about this year. Clavi is in a strong position and we have requests from large customers”, he summarizes.