About Rauva

Sobre a Rauva

Rauva, the award-winning Portugal-based fintech offering a fully-digital business super app, has signed an agreement to acquire Banco Montepio’s 100% shareholding stake in Banco Empresas Montepio. The bold move boosts Rauva’s ability to deliver cutting-edge business solutions to SMEs, freelancers, and entrepreneurs. Additionally, it will make the entrepreneurial journey significantly easier with new, high-quality services, such as credit features, and positions the company for lasting growth.

Rauva developed and launched its business super app in less than one year, containing everything SMEs need to cover their day-to-day financial needs. These essential features include digital account opening in minutes, payments, and issuing physical and virtual cards. For business management, businesses can issue and track certified invoices compliant with the tax authority and can take advantage of expense management. The app’s accounting functionality offers businesses access to certified accountants and assistance in opening and registering their company. The app, and its customer-centric focus, means Rauva is built to execute smart innovation.

The acquisition will enable Rauva, Portugal’s first business app dedicated solely to the ever-increasing market of SMEs and freelancers, to accelerate innovation and enhance collaboration. Rauva can accelerate innovation by creating new financial products dedicated to businesses. Insights from customer financial data along with data from Rauva’s own products will be added to Rauva’s proprietary Quantum Machine Learning technology. This offers businesses that may have been rejected by the traditional credit process a chance at growth. All of which points to Rauva’s commitment to SMEs often neglected by traditional banks, which is key for a growing entrepreneur base and expanding European economies.

Rauva’s hard work hasn’t gone unnoticed. Its success is due to its team and experienced founders, Jon Fath and Sam Mizrahi. Fath has had a storied career in international M&A and as a tech entrepreneur while Mizrahi is a leading entrepreneur and a top real estate developer in the Canadian luxury residential and commercial market. They have built a competent team capable of translating the needs of SMEs and entrepreneurs into functional innovation. Rauva has been selected by Banco de Portugal, Portugal’s central bank, to its FinLab program and named Top Emerging Fintech by the Portugal Fintech Report in 2022. It has also been selected to join the prestigious Unicorn Factory Lisbon and named KPMG’s Tech Innovator 2023 in Portugal and will represent the country in the global finals.

Jon Fath, Co-founder and CEO of Rauva: “Our acquisition of Banco Empresas Montepio not only saves time for us in the long run but will increase our efficiency and ability to scale. Since day one we´ve been working towards building a fully-fledged bank, which is essential for our customers who depend on having the best possible solutions and services. This exciting move also puts us even closer to becoming one of Portugal’s first unicorns.”

The sale price will be based on a multiple ranging from 1.15 to 1.18 times Banco Empresas Montepio’s equity at the closing date, estimated at €30 million

Rauva signs an agreement to acquire Banco Empresas Montepio to accelerate becoming one of Portugal’s first unicorns

Banco Montepio has agreed to sell its 100% stake in Banco Empresas Montepio (BEM) to RAUVA Enterprises S.A. (Rauva), the first Portuguese business super-app that is already at the service of entrepreneurs and small and medium-sized businesses in the country. Rauva allows entrepreneurs to securely organize all their financial needs through a single integrated solution.

With this acquisition, Rauva aims to fill a gap in the financial services sector by becoming the first digital bank Portuguese and European entirely oriented towards companies, boosting innovation through the creation of new financial products and services that will support entrepreneurs, particularly in terms of credit.

The agreement between the parties was formalized with the signing of a share purchase and sale agreement (SPA – Share Purchase Agreement), which is subject, in particular, to the verification of certain precedent conditions necessary for the conclusion (closing) of the operation, including approval by supervisory and regulatory authorities. regulation. Before the completion of the transaction, all BEM assets, liabilities and operations will be transferred to Banco Montepio. For the Banco Montepio Group, this operation is part of the process of integrating BEM's activities into Banco Montepio, which will allow it to capture synergies and, simultaneously, preserve and enhance the integrated value proposition of commercial banking and investment banking, developed successfully by the institution, with the purpose of better serving customers at all times.

The sale price will have as a reference a multiple of between 1.15x and 1.18x of BEM's equity at the date of completion (closing) of the operation, estimated at 30 million euros. With this agreement, Banco Montepio took another important step in fulfilling the commitments made in the Adjustment Program, continuing to simplify the business structure and improve the Group's operating model.

Pedro Leitão, President of the Commission Executive at Banco Montepio, stated: "This agreement is an important step in our strategy and comes at the right time. By consolidating our integrated value proposition of corporate and investment banking, in a simpler and more focused model, we intend to increase the our customer service to a higher level.”

The sale price will have as a reference a multiple of between 1.15x and 1.18x of BEM's equity at the date of completion (closing) of the operation, estimated at 30 million euros

Banco Montepio signs an agreement for the sale of BEM to fintech Rauva

Rauva is the winner of the 2023 edition of KPMG's Tech Innovator in Portugal, and will represent Portugal in the international final, which will take place during the Web Summit in November, in Lisbon.

Directed for SMEs and freelance professionals, Rauva is a 100% digital solution that helps companies open business accounts, make payments, use physical and virtual cards, send and track invoices in compliance with the Tax Authority, record and monitor expenses. In addition to Rauva, the national final featured four startups: Growappy – which offers a new vision for childhood education; InfiniteFoundry – a 3D digital factory platform that allows you to improve the production efficiency of any industrial sector ; Wakaru – an integrated solution for the intelligent management of operations in water networks, for companies water supply; and Youverse – a software solution for organizations to optimize their identity verification processes, reducing the risk of fraud and ensuring compliance with sector regulations.

“The competitiveness of this national final illustrates the quality that exists in the national ecosystem of startups, with innovative ideas, disruptive and with enormous growth potential” comments Nasser Sattar, Head of Advisory at KPMG Portugal. “The Tech Innovator competition is an important initiative that allows us to collaborate closely with a very rich, talented ecosystem that KPMG highly values. This also ends up being a very relevant stage for these startups to obtain visibility and public recognition of their work and dedication to an idea.”

For Jon Fath, co-founder and CEO of Rauva and author of the winning pitch in front of the jury, “After having launched Rauva in April, after 10 months of development, we could not be more honored to now receive the award for Tech Innovator in Portugal and to see our mission of making entrepreneurship easily accessible to everyone recognized. We are proud and very excited to represent Portugal among the more than 20 countries that will compete at the Web Summit. As the first super-app for business on a national level, we can't wait to present our innovative and disruptive solution to such a wide audience.”

The judging panel was composed of: Nasser Sattar (KPMG Portugal) , António Dias Martins (Startup Portugal), Isabel Ucha (Euronext Lisbon), João Freire de Andrade (Portugal Fintech), Pedro Santa Clara (Escola 42) and Soumodip Sarkar (PACT). These were the experts responsible for choosing the most innovative and disruptive project, with capabilities to become the tech titan of the future, in November.

Qualities such as disruption and innovation, the potential for traction and market share gain, the long-term sustainability of the business, and the quality of the pitch were some of the criteria by which the five startups were evaluated and on which the jury members were based to choose a winner.

This is the third edition of the competition, which will have its final presentation during the Web Summit, in November, in Lisbon, where Rauva will go.

Rauva will represent Portugal in the international final, which will take place during the Web Summit in November, in Lisbon.

Rauva is the winner of the third edition of KPMG's Tech Innovator In Portugal

With a mission to make entrepreneurship easily accessible to everyone, Jon Fath co-founded and leads Rauva, the first Portuguese super-app aimed at small and medium-sized companies (SMEs), which allows you to make payments, issue physical and virtual debit cards, send and track invoices certified in accordance with the Tax Authority and track and record company expenses, in a 100% digital account.

After working and living in more than 20 countries, having specialized in blockchain, AI and fintech businesses, Jon Fath chose Portugal to create Rauva, a solution focused on small and medium- sized companies to improve their efficiency and effectiveness, freeing them time that would otherwise be spent on administrative tasks and bureaucratic processes.

“We chose Portugal because there are 1.6 million SMEs and freelancers who do not they have solutions adapted to their activity, although they represent 99.9% of the economic fabric. These are the people we can support on their path to success - consequently participating in the growth of the national economy and the technological ecosystem”, said Jon Fath, highlighting that this business segment is expected to contribute 73 million euros to the economy by 2025.

After an international career of mergers and acquisitions, Jon Fath began his journey as an entrepreneur in the Technology sector, having founded Equivvy, the first B2B equipment rental and sharing platform. In addition to presiding over the international expansion of Transmetrics, the leading Artificial Intelligence (AI) platform dedicated to logistics, where he was previously CEO, Jon was recently COO of bunq, one of the largest digital banks in Europe, actively contributing to the closing of the largest round of series A financing in the history of fintech in Europe. Rauva's CEO is also a member of the Board of Directors of FANA, a charitable blockchain fintech initiative.

Founded in 2022 by Jon Fath and Sam Mizrahi, Rauva has already distinguished itself in the Fintech sector, having been selected to participate in the Portugal Finlab program, organized by the Bank of Portugal, the Securities Market Commission (CMVM) and the Insurance and Pension Funds Supervision Authority (ASF), and recognized as one of the emerging companies by "Portugal Fintech Report 2022". More recently, she was selected to be part of the second edition of Unicorn Factory Lisbon's Scale Up Program.

Jon Fath leads fintech Rauva to make entrepreneurship easily accessible to everyone

Rauva, the first Portuguese super-app that aims to make entrepreneurship easily accessible to everyone, will celebrate Micro, Small and Medium Enterprises (SMEs) Day, on June 27th, with the creation of an open day in which small entrepreneurs will have the opportunity to have an exclusive, online and free conversation with the co-founder and CEO of Rauva, Jon Fath, to share experiences and discuss the challenges of your business.

“The importance of SMEs in Portugal is unquestionable : they represent 99.9% of the economic fabric and around 70% of wealth, and are expected to contribute 73 billion euros to the economy by 2025”, says Jon Fath. “For this reason, and with the aim of making entrepreneurship easily accessible to everyone through our platform and team, we could not be more excited about the idea of creating moments of private conversations with small business owners.”

Those interested must register here for a 30-minute counseling session that will be held in English on June 27th, with the CEO of Rauva, who began his journey as an entrepreneur in the Technology sector after an international career in mergers and acquisitions. Having experienced firsthand the challenge of creating and maintaining your business, Jon understands the challenges that entrepreneurs are subject to, such as the psychological pressure of being the person who makes decisions, of raising initial capital and of being dependent on himself to obtain his salary and that of others; the requirement to have the necessary knowledge to comply with all legal and bureaucratic requirements associated with the activity; the ability to manage suppliers, customers and staff, among many others.

Founded in 2022 by Jon Fath and Sam Mizrahi, Rauva developed the only integrated solution in Portugal that allows you to make payments, issue physical debit cards and virtual, send and track certified invoices in accordance with the Tax Authority, and monitor and record company expenses, in a 100% digital account. The super-app has already stood out in the Fintech sector, having been selected to participate in the Portugal Finlab program, organized by the Bank of Portugal, the Securities Market Commission (CMVM) and the Insurance and Pension Funds Supervision Authority (ASF), and recognized as one of the emerging companies by "Portugal Fintech Report 2022". More recently, she was selected to be part of the second edition of Unicorn Factory Lisbon's Scale Up Program.

CEO of the Portuguese fintech will listen to small business owners in a series of free 30-minute online conversations

Rauva creates an initiative on SME Day to help entrepreneurs and discuss their challenges

Rauva, the first Portuguese super-app that aims to make entrepreneurship easily accessible to everyone, was selected to be part of Unicorn Factory Lisbon's second Scaling Up Program. The announcement comes just a month and a half after its launch, reinforcing the company's relevance and potential, as well as its rapid expansion that is already underway.

Rauva, with the aim of boosting and supporting small businesses by simplifying processes related to business management, developed the only integrated solution in Portugal that allows you to make payments, issue physical and virtual debit cards, send and track certified invoices, track and record company expenses and, in Soon, it will also launch accounting services. The onboarding process is simple and 100% digital and allows entrepreneurs to register their new business account in just a few minutes. The platform also features a dashboard that provides visibility into the company's finances, billing and performance. Additionally, it promotes literacy for entrepreneurship, supporting people so that they have the tools to build a sustainable company.

“After we launched the super-app in April, after 10 months of development, We couldn’t be happier with Rauva’s integration into Unicorn Factory Lisbon at this stage of growth”, says Rauva’s co-founder and CEO, Jon Fath. “We are studying geographic expansion to other markets in the coming years, as well as developing new features to simplify the lives of small business leaders and freelancers. The time to enter the Scaling Up Program couldn't be better.”

Fintech was the only one in this sector chosen for the program, whose selection process was carried out through an evaluation of profiles and interviews, based on the criteria for admission to the program, which include the current stage of development - having raised a relevant investment, being made up of a strong and structured team, having a product or service in commercialization and growth traction - as well as suitability for the program - capacity support from partners, future business potential and international expansion plans. The Scaling Up Program lasts eight months and aims to support companies in developing critical skills and accelerating the growth and expansion of their businesses.

Founded in 2022, by Jon Fath and Sam Mizrahi, Rauva has already stood out in the Fintech sector, having been selected to participate in the Portugal Finlab program, organized by Banco de Portugal, CMVM and ASF, and recognized as one of the emerging companies by the "Portugal Fintech Report 2022".

The company is the only fintech and the most recent among those selected

Rauva joins Unicorn Factory Lisboa weeks after being launched on the market

Rauva,the first Portuguese super-app for small and medium-sized companies (SMEs) and freelancers, which aims to make entrepreneurship easily accessible to everyone, is recruiting for its team in Lisbon, which should reach 50 people by the end of the year. Vacancies are open for the roles of **data analyst, credit specialist, product manager, product designer, mobile developer, backend and frontend developer**, among others.

To find out how to respond, in a single application, to all the administrative processes and management challenges that an entrepreneur faces, Rauva has professionals from 11 nationalities on its team who have already created their businesses. “We are looking for dynamic profiles that challenge the status quo and contribute to improving the day-to-day lives of small business managers. Only through experience can we know the true barriers of launching and managing a business that does not have the support of an administrative team. Sensitivity to these topics and to the development of our user community is essential to join our team and participate in the continuous development and growth of our platform”, explains Jon Fath, co-founder and CEO of Rauva.

Rauva is the only integrated platform in Portugal for SMEs and freelancers that incorporates payments, physical and virtual debit cards, sending and tracking certified invoices linked to the Tax Authority portal, monitoring and recording company expenses, making payments and, soon, it will also launch accounting services. The onboarding process is simple and 100% digital and allows the user to register their new business account in just a few minutes.

The solution was launched this month for the Portuguese market, but Rauva wants to expand it. to other European countries in the coming years. “Innovation is in our DNA and, therefore, we believe that it is always possible to deliver more solutions and more value to those who are leading businesses without an administrative support structure”, concludes Jon.

Founded in 2022 , by Jon Fath and Sam Mizrahi, Rauva has already stood out in the Fintech sector, having been selected to participate in the Portugal Finlab program, organized by Banco de Portugal, CMVM and ASF, and recognized as one of the emerging companies by the "Portugal Fintech Report 2022".

Portuguese fintech Rauva intends to double its team by the end of the year

Rauva, the first Portuguese super-app for small and medium-sized companies and freelancers, which aims to make entrepreneurship easily accessible to everyone, is now available in Portugal on the App Store and Google Play Store.

With the aim of boosting and supporting small businesses, through the simplification of processes related to business management, Rauva has developed the only integrated solution in Portugal that allows you to incorporate payments, physical and virtual debit cards, send and track certified invoices linked to the Tax Authority portal, monitor and record company expenses, make payments and, soon, will also launch accounting services. The onboarding process is simple and 100% digital and allows entrepreneurs to register their new business account in just a few minutes.

The platform also features a panel that will help control the company's finances, invoicing and performance, as well as promoting literacy for entrepreneurship, supporting people so that they have the tools to build a sustainable company.

After almost a year of development, Rauva is now available in Portugal: “ Since the beginning, we have received great feedback from the market, with more than 20 thousand registrations on our waiting list for the launch, from freelancers, entrepreneurs and aspiring entrepreneurs, from all industries, both Portuguese and foreigners living in the country. These numbers reveal how relevant this solution is, but our impact can be much greater. There are 1.6 million SMEs and freelancers in Portugal, which represent 99.9% of the economic fabric. These are the people we can support on their path to success”, explains Jon Fath, co-founder and CEO of Rauva.

However, this is just the first step. “Innovation is in our DNA and, therefore, we believe that it is always possible to deliver more solutions and more value to those who are leading businesses without an administrative support structure. For this reason, we are always in contact with our users through research and the application - and they will be able to vote on the features we will launch", adds Jon. Rauva is, for now, only available for businesses in Portugal, as it presents a localized approach, but intends to expand to other markets in the coming years.

Founded in 2022, by Jon Fath and Sam Mizrahi, Rauva has already stood out in the Fintech sector, having been selected for participate in the Portugal Finlab program, organized by Banco de Portugal, CMVM and ASF, and recognized as one of the emerging companies by the "Portugal Fintech Report 2022".

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