The perks company is betting the new business front could get “huge” in the next few years
the goodwill Cashew nutsknown above all for its corporate benefits card (such as food, cultural and health vouchers, for example), it is entering a new commercial front: the management of corporate expenses, announces the company this Monday 27.
Called Caju Expenses, the solution will allow the startup’s client companies to manage their employees’ business expenses, such as restaurant expenses and business travel. All administration is done through the platform and application of Caju, founded in January 2020 by Eduardo del Giglio, who also holds the position of executive president.
“This business front is not far from where we are already, which is the benefits sector,” explains the CEO. “And the recognition of our brand and our proximity to the human resources department of the company play a lot in our favor. These are people who already have a very positive relationship with our product.”
Caju’s prepaid card is loaded digitally, and the benefit in the wallet can be managed by the company’s Human Resources department, which can download the data. The deposited amount has a validity period for the load, which allows for better management of the expenses declared.
Caju will charge client companies a fee based on the number of users who adopt the service, as is the case with this type of product (known in the market as “software as a service”, or SaaS). The startup expects up to 5,000 companies to use the service, focused on mid-sized companies.
“I expect this spending segment to become as gigantic as the benefits area, which remains the core of our business,” says the CEO.
According to Del Giglio, Caju Expenses is an improved version of Cashew tripreleased in April 2022, eight months after the startup raised a round of BRL 45 million with Valor Capital Group, Caravela and Volpe. In August 2021, he received BRL 13 million from Valor and Canary.
Today the client portfolio includes startups you rap, mezzanine AND buser, as well as names like Dafiti, Sorrisi and Votorantim. In all, there are 17,000 companies, says Caju.
Struggle between HR startups
The product Caju announced this Monday is similar to what the startup makes Fast, also from the benefits area and which has an expense management platform. In November 2022, the company entered the people management segmentwhich includes time and admission control.
In March 2022, The Flash raised $100 million, one of the biggest audits of the year among startups in Brazil. This year, in a report prepared by the innovation platform, the company, which was founded in 2019, was named as candidate for “unicorn” in 2023the name given to startups that exceed a market valuation of $1 billion.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
