Keo World has announced a significant expansion of its B2B payments platform, Workeo, into the Brazilian market through a strategic partnership with investment bank BTG Pactual Bank S.A. This development aims to assist medium and large enterprises in Brazil in digitising their B2B invoice payment processes, leveraging Keo’s innovative Workeo solution in conjunction with the American Express Business Link platform.
In a press release issued on December 16, Paolo Fidanza, the Founder and CEO of Keo, highlighted the limitations faced by small- to medium-sized businesses in Brazil, where less than 10% of traditional credit is typically extended to them. He stated, “Our Workeo product enables business buyers to access core inventory on credit and suppliers to increase their recurring sales, enhancing working capital management through a fully digital, frictionless and low-cost financing and cash management platform thanks to our innovative payment rails, credit processing and the American Express network.”
The Workeo platform allows businesses to access a working capital line of credit via a digital wallet, which is integrated into the payment and billing infrastructure made available through the Amex Business Link. This system is designed to optimise working capital and streamline operational and reconciliation processes for both buyers and suppliers.
Headquartered in Miami, Keo World also maintains a presence in the United States, Canada, Mexico, and throughout Latin America. René Centeno, the Global Head of American Express Supply Chain Solutions, remarked on the benefits of this expansion, stating, “Thanks to this expansion, companies in Brazil will be able to access an innovative and 100% digital ecosystem that offers digital payment and billing tools for local and international transactions.”
American Express first launched the Amex Business Link platform in December 2022. This digital B2B payments ecosystem allows network participants to facilitate more efficient payment solutions for their business customers, managing transactions both domestically and internationally.
Keo World has applied the buy now, pay later (BNPL) concept to the B2B sector in response to the necessary evolution away from traditional credit solutions. In a previous interview with PYMNTS in February 2022, Fidanza commented on the advantages of this model in a business context, explaining, “The big benefit in the business, more than in the consumer space, is that normally these businesses can take this inventory, sell it or make it work to produce money before they need to pay for it.” This approach aims to better serve businesses that often find themselves excluded from conventional credit channels.
The announcement underlines the growing trend of digitisation and automation in financial processes, particularly within the B2B sector, as businesses seek efficient and innovative solutions to enhance their operations and improve access to capital.
Source: Noah Wire Services