WEEL

WEEL, established in 2015, operates as a data and credit financial technology company focused on providing working capital solutions to small and medium-sized enterprises (SMEs) in Brazil. The company was founded in Tel Aviv by Brazilians Simcha Neumark and Shmuel Kalmus, along with American-born Russell Weiss. Neumark's motivation for creating WEEL stemmed from his personal experience watching his father's small textile industry in São Paulo struggle with cash flow and miss business opportunities due to a lack of accessible working capital.

The firm's core business revolves around the online anticipation of receivables, a process that allows companies to receive early payment for sales made on credit or in installments. This financial instrument helps businesses maintain a healthy cash flow to cover immediate expenses without resorting to traditional loans, which often carry higher interest rates. WEEL targets SMEs with an average annual revenue of around R$10 million and leverages artificial intelligence and machine learning to analyze risk and optimize credit solutions for its clients. The platform is designed to be straightforward and accessible, enabling companies to manage when and how they receive advance payments on their invoices.

A significant milestone in the company's history was its acquisition by the digital bank BS2 in June 2021. The transaction, conducted via a stock swap, was a strategic move by BS2 to become the leading B2B neobank in Brazil by integrating WEEL's technology and credit expertise. This merger incorporated WEEL's origination platform and data systems into BS2, with the goal of creating a unified offering of banking and credit services for the SME market. Following the acquisition, WEEL's founder and CEO, Simcha Neumark, became an executive and a member of BS2's Board of Directors, and WEEL's shareholders, including Monashees Capital and Franklin Templeton, became shareholders of BS2. By the end of 2020, WEEL had processed R$1 billion in credit operations and had a database of over 15,000 customers.

Keywords: receivables anticipation, working capital, SME financing, fintech, B2B finance, credit solutions, cash flow management, online lending, data-driven lending, financial technology, Brazilian fintech, BS2, Simcha Neumark, accounts receivable financing, digital credit, corporate finance, invoice discounting, supply chain finance, small business loans, credit risk analysis