Zenvia Inc., the leading cloud-based CX platform in Latin America, empowering companies to transform their customer journeys, announced the successful renegotiation of its remaining payments linked to the SenseData acquisition.
Shay Chor, Zenvia’s CFO, stated: “With this agreement with SenseData, we close the year with all earn out payments extended, positively impacting our funding gap and significantly reducing payments until the end of 2023. This allows us to focus on our profitability path and improving the company’s capital structure while maximizing cashflow.”
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The payment of R$23.7 million, due at the end of December 2022, was reduced to R$18.0 million, with the remaining amount to be paid in 12 fixed installments over 2023, and subject to accrued interests in line with Zenvia’s current bank financing costs. Also, for 2023, the total amount of remaining payments will continue to be related to the achievements of gross profit targets, as defined in the original agreement. Zenvia agreed to pay a fixed amount of R$20 million in December 2023, with the remaining amount to be paid in 24 instalments, subject to accrued interests in line with Zenvia’s current bank financing costs. SenseData´s founding partners will continue to manage the company as per the original agreement, until the end of 2023.
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With the conclusion of this transaction, the total earnout for the acquisition of Sirena, D1, Movidesk and SenseData to be paid until the end of 2023 was reduced from estimated BRL 444 million to BRL 81 million, with the balance to be paid in installments until the end of 2026.
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