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Company profile

Founding year

2016

Funding round

Pre A

Raising funds

No

Country

Portugal

Employee number

6

Pitchdeck

Problem they are solving

We are solving credit to consumers pains at point of sale/retail shops. Currently, if a customer wants to buy a product in a shop (electronics, furniture, optics, jewelry, watches, …) and can’t afford to pay all at once, he/she will have to apply for a credit. Most probably, he/she will have to wait in a credit to consumer queue, than will have to present the salary slip, the income statement, proof of address and many other documents. The whole bureaucratic process can take a lot of time (sometimes more than a day!) and it can convert an exciting purchasing experience into something not recommendable. Particularly if, in the end, the credit turns out to be refused.

Solution to the problem

Parcela Já is a Fintech company focused on installment payments, at no cost whatsoever for end customers. The developed software allows end customers to pay their purchased products or services over the store counter from 2 to 12 times with their credit card, without any interest or charges and without any bureaucracies or waiting time for credit approval (in a matter of seconds). For the stores to be able to offer Parcela Já solution to their customers, they just have to have a Parcela Já POS terminal or the Parcela Já web application on their online shop (which is currently in development). Also, for stores we provide cheaper credit to consumer (than regular financing companies), reduce in-store discounts, increase sales volume and offering a easy payment solution for their end customers.

Market traction

Parcela Já is operating for two years and generating revenues on its more than 300 customer shops. The business model is proved and both stores and costumers are adhering to the concept. An end consumer is very likely to repeat the experience if offered the opportunity. Out of the last 1000 transactions we’ve experienced huge traction: 19,5% customer are coming back to the same shop or any other store to repeat the purchase with Parcela Já. Also, without any marketing whatsoever we’re having weekly requests from new stores to install our product at their premises.

Success story

There are several. From customers who initially rejected our product and ended up contacting and requesting our solution. From already having competition between our customers, requesting our service because their competitor is promoting our solution through newsletters or even on the shop’s windows. But probably, the most relevant is having a solution up and running after so many constraints and issues (which are common for a Startup, of course), and having consumers wanting it.

Expansion plans

The first step to internationalization is to make sure we are legally compliant with a potential market we are opening. Checking it is the first step. Therefore, one might have to consider to partner with a local bank/financial company (or an international bank owning licences to operate and that market). Europe is by definition and for legal and technical reasons our prime market for internationalization. Although the product might be deployed in other regions with potentially huge success (such as Arabic countries, as we charge no interest for end consumers). Technically wise, we are ready to start in any market.

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