Bemobi entra em condomínios, abrindo uma nova vertical em pagamentos

Bemobi, a Brazilian fintech company, is expanding into a new vertical within its payments business - residential condominiums. This strategic move marks a shift from its previous focus on mobile games and subscription apps, which accounted for over 90% of its revenue before its IPO in February 2021. Now, payments represent only 30% of the company's total revenue.

The company's payments solution is embedded in the websites of various businesses, enabling them to accept PIX and credit card payments for monthly bills, including options for installment payments and wallet payments. The company's first target was the residential condominium sector, after first focusing on telecom services, utilities, education, and healthcare businesses.

Bemobi CEO Pedro Ripper revealed that the decision to enter the condominium market was driven by its sheer size - it moves over R$ 100 billion annually - and the lack of differentiation among condominium administrators. He noted that 9 out of 10 people do not know the name of their condominium's administrator.

However, the segment presents significant challenges due to its extreme fragmentation, with no player holding more than 2% of the market. Entering the condominium market will require Bemobi to sell to hundreds of administrators, a different approach compared to its previous sectors.

Bemobi's recent second-quarter results reported a 30% top-line growth to R$ 227 million, driven primarily by its payments segment, which grew by 75%. The EBITDA increased by 33%, reaching R$ 79 million, with the company reporting its highest margin to date. The net profit rose by 30% year-over-year to R$ 45 million.

In addition to this new venture, Bemobi signed contracts with four more clients in the quarter - Aegea (saneamento), Vitru and FMU (education), and Qualicorp (healthcare) - and introduced a new product offering that allows combining different payment methods in a single transaction.