Small companies have a high rate of mortality, with a maximum of three years of existence. Among the reasons for a high number of companies closing doors, the lack of financial control is one of them. Currently solutions require finance knowledge or Excel skills, or are complicated to be used.
Lucrefy supports micro and small companies to control their finance numbers via WhatsApp or Telegram, using simple text messages. Lucrefy merges the usability, easy to access, and customer familiarity of such apps (available in more than 90% of mobile phones in several countries) with artificial intelligence to organize companies' figures. Lucrefy is a finance chatbot that uses messaging apps, APIs and AI to provide finance control using ordinary text messaging, taking advantage of NLP (Natural Language Processing), transforming common messages into financial statements and commands control.
Lucrefy works by translating sentences users share like "paid 100 products" or "sold 400 debit" or "profit", and providing graphics and analysis of the business. There is no need to use Excel software or expensive and complex finance solutions.
150 users of the Lucrefy service
Size market in Latin America is higher than 2 million companies (or $24M USD using the initial Lucrefy monthly fee). Women are the most engaged users of financial control according to the Brazilian Entrepreneurship Agency. Lucrefy seeks support permeating into micro and small enterprises across Brazil, especially those with women leadership.
- At this stage, Lucrefy is expanding partnerships with accountants and local entrepreneurship entities in specific cities (e.g Santos, Guarujá, Caruaru - all of them located in Brazil).
- Aliança Empreendedora (MIT Solver 2020) as a partner. Potential extension of this partnership with Mastercard (under discussion).
- Nação Ativa authorized its users to use Lucrefy as a finance control alternative. A formal partnership is underway.
- Support in expanding and reaching entrepreneurs in Brazil and beyond who have difficulty accessing financial services. Lucrefy would benefit from individuals and organizations that are familiar with prerequisites and legal aspects required for global expansion.
- Assistance in developing and maintaining documents and procedures for governance policies, as it aims for a potential round of investment in the future.
- Expertise in reviewing cybersecurity features and certificates to protect our customers and products.
- Support with engaging customers through strategic sponsored content, “freemium”? packages [a]and partnered content to achieve our planned target of 5,000 users by 2024.