Why 1616 Ventures Invested in Assis

At 1616, we are bullish on the theme of digitalization of SMBs in Brazil. In Assis, we saw a huge opportunity in the space being pursued by a successful serial entrepreneur and a proven team. Assis is on a mission to revolutionize how service-based small businesses and solopreneurs in Brazil manage their operations. Their comprehensive solution, spanning from quote generation to cash collection, has the potential to transform the landscape of Brazilian business.

The team behind Assis is one of the core reasons why we are so thrilled to support this endeavor. Raphael Machioni is a serial entrepreneur who successfully exited his previous company, Vee Digital, to Swile. He has a strong history with co-founder Jo?o Bergamo, who joined Vee and quickly rose to be Raphael’s right-hand-man as CFO. They were joined early by CTO Vagner Dutra, a founding member of the technology team at PicPay who has ample experience building and scaling products from zero. Their impressive track record, coupled with their passion for creating efficient solutions for SMBs, gives us confidence in their ability to make Assis a success.

Brazil's economic landscape, teeming with over 26 million service-based small businesses, presents an enormous market opportunity for Assis. Current tech-driven solutions focus predominantly on small businesses selling physical goods, leaving a sizeable gap for those providing services. Many of these entrepreneurs still rely on basic tools like spreadsheets and WhatsApp, spending precious time on administrative tasks instead of focusing on their core business. This is where Assis can make a significant difference, streamlining operations and enabling them to maximize their service delivery, much like Honeybook did for businesses in the US.?

The current socio-economic climate in Brazil further underscores the need for a solution like Assis. The Covid-19 pandemic has resulted in a surge of solopreneurs and service-focused small businesses that could all benefit from Assis' platform. The high rate of smartphone ownership in Brazil means Assis can leverage technology to create a community and support network for these businesses. Furthermore, recent regulatory changes now allow Assis to provide financial services that were once exclusive to traditional banking entities.

Assis' all-in-one platform allows businesses to manage everything from quote-to-cash, invoicing, contracts, project management, and customer relationship management. While they initially monetize on transactions, there is potential to increase monetization through premium SAAS features and credit. As the operating system for solopreneurs, Assis will be well-positioned to cross-sell additional financial products to its clients.

Investing in Assis aligns with our commitment to supporting companies that provide impactful solutions to real-world problems in Brazil. We are excited to be a part of Assis' journey and look forward to seeing them transform the way service-based small businesses and solopreneurs operate in Brazil.