Asaas, a platform of financial and management solutions for SMEs, has just announced its financial and operational results for 2024.
The year 2024 marked a historic chapter for Asaas, with significant achievements and strategic advancements. The highlight is the largest and most important financial contribution we have ever received – also the largest in Latin America – amounting to R$820 million. We achieved our initial projections and moved towards the highly anticipated IPO, expanding our market and helping over 19,000 clients manage their businesses intelligently.
We recorded a 103% growth in Total Payment Volume (TPV), reaching R$43.5 billion, compared to R$21.4 billion in 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 TPV, our BaaS (Banking as a Service) solution stands out for its robustness, attracting major players who operate with high transaction volumes and reduced fees. This factor explains the accelerated 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$2 billion by 2027," said Piero Contezini, co-founder and president of Asaas.
The financial results of 2024 show significant growth and the overcoming of operational challenges, consolidating the company with great prominence in the sector. See below a summary of the main data
- The growth of GMV reflects the expansion of the customer base and greater adoption of the company's solutions. The total volume of payments processed by Asaas reached R$ 43.5 billion, more than double the amount processed 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, which was previously negative at -2.3%, rose to 3.7%.
- The gross margin increased by 3.5 percentage points to 65.6% in 2024, indicating greater efficiency in direct costs.
- The contribution margin, which reflects the profit obtained after covering variable costs, increased by 67%, reaching R$ 186.3 million.
Asaas's performance in 2024 was robust, with accelerated and sustainable growth in both revenue and transaction volume.
By 2025, our expectation is to continue growing responsibly and sustainably, 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, which we have worked hard to achieve. Now, it is about continuing in this way, improving the customer experience and ensuring the sustainability of the expansion, moving towards the IPO that will arrive soon, concludes Contezini.
