Spreadsheets and projections no longer impress investors, leading digital companies that master performance marketing and data to reach another level of valuation. This is exactly the path that Matheus Beirão took when founding Queima Diária, a digital health and wellness platform that has already generated over R$ 500 million without relying on external capital.
Beirão led the company’s growth with a rare approach in Brazil: a bootstrap model, where every real invested was backed by real results. ‘While many talked about valuation and funding rounds, we focused on CAC, LTV, and churn. We always knew how much a customer cost, how much they brought in, and how to keep this equation healthy for years,’ he states.
Predictable growth is the new ROI
According to a survey by the Brazilian Startups Association (Abstartups), about 64% of angel investors and early-stage funds consider the marketing model more relevant than current revenue when analyzing a business. Although Beirão never sought external funding, he notes that the interest of large groups in digital companies is increasingly tied to the robustness of acquisition strategies.
‘Investors or strategic buyers want to see traction, not promises. Having a performance marketing strategy, based on real conversion and retention data, is worth more than any growth projection,’ he points out.
Case studies that sell better than projections
Presenting successful case studies—such as campaigns that drive conversion spikes, influencer partnerships that reach new audiences, or the creation of a proprietary digital ecosystem—has been crucial in sparking interest from potential buyers.
In the case of Queima Diária, the company also developed its technological infrastructure in-house, with apps for smart TVs, payment systems, and a data and analytics hub. It was this combination of elements that caught SmartFit’s interest in 2020 in acquiring a significant stake in the company. ‘What happened was a deal where they bought part of the company directly from me as an individual. It wasn’t an investment in the company but a strategic acquisition based on the potential and differentiation of our marketing engine,’ explains Beirão.
A new playbook for bootstrapping from scratch
The deal with SmartFit marked a turning point in the digital products sector. ‘It showed that it’s possible to build a profitable business attractive to big players without relying on external capital, as long as you have a self-sustaining, data-driven growth system,’ highlights Beirão, who now works as an advisor and investor in companies looking to scale efficiently.
For entrepreneurs building bootstrap businesses, the message is clear: well-executed performance marketing, combined with data and consistency, can be better for the business than any funding round.
