BMOB3

Bemobi is a Brazilian technology company focused on digital solutions for essential service industries, with shares traded on B3 under the ticker BMOB3 since February 2021. The company originated as a business unit of M4U (Mobile 4 You), which was active in the early 2000s in the mobile value-added services segment, working in partnership with telecommunications operators. In 2009, after M4U was sold to Cielo, the unit was spun off and began operating independently under the Bemobi brand. Starting in 2013, with the expansion of 3G networks and the popularization of smartphones, the company repositioned its business model with the launch of Apps Club, a digital subscription service for apps and games integrated with telecom operators. Within a few years, all major Brazilian mobile operators were offering the service in partnership with the company.

Bemobi’s operating model is predominantly B2B2C, in which the company provides platforms and services to large organizations that, in turn, distribute them to end consumers. Throughout the 2010s, Bemobi consolidated partnerships with telecom groups in Latin America and other emerging markets, driving its international expansion. In 2015, it was acquired by Opera, a European group linked to the Opera Mini browser, which strengthened its presence in emerging countries. Subsequently, the company began investing in a proprietary channel platform, which later evolved into Bemobi Loop, enabling the orchestration of offers and digital journeys across multiple channels, including voice, to improve commercial effectiveness and the user experience of digital services.

The company structures its portfolio into four major solution families: Digital Payments, Engagement SaaS, Digital Subscriptions and Microfinance. In Digital Payments, Bemobi operates Bemobi Pay, a platform that brings together payment gateway functionalities, a recurring billing engine for subscriptions, multi-acquiring and sub-acquiring solutions, end-to-end PIX capabilities, financial reconciliation tools, proprietary anti-fraud and intelligent payment orchestration. These solutions are largely offered on a white-label basis to recurring service companies, focusing on automation, transaction cost reduction, higher approval rates and better management of delinquency. In SaaS, the company offers digital engagement platforms customized by sector, integrated into billing and customer relationship flows.

In Digital Subscriptions, Bemobi developed a low-value billing model based on prepaid customers’ top-up balances, additional charges on postpaid bills or direct debit from bank accounts, expanding access to ad-free apps, games and digital services. It also offers voice messaging services, accessible via apps and integrated with SMS and WhatsApp using artificial intelligence, sold under subscription arrangements. In Microfinance, it operates mainly with nano-credits linked to the mobile service usage experience, offering advances of airtime, voice and data for users when they run out of credit, with repayment on the next top-up and a convenience fee. Complementarily, it provides credit score solutions based on mobile behavior, generating additional data for financial institutions, always using anonymized information in compliance with privacy laws in each country.

Bemobi focuses its operations on essential service industries with recurring billing, especially telecommunications, electric power and education, in addition to related segments such as broadband providers, fintechs and financial institutions. In 2024, the company reported relationships with 1,475 partners in 58 countries, including 149 large companies and 1,326 small and medium-sized enterprises. Among the large clients are 113 mobile operators, 6 electric utilities and 30 digital banks, digital wallets, e-commerces and broadband providers. In the SME universe, the main groups are 1,102 private K-12 schools, 208 broadband providers and 16 fintechs. In the Brazilian market, Claro, Vivo and TIM each accounted for more than 10% of total 2024 net accounting revenue, highlighting the relevance of the telecom sector in the group’s revenues, even in a context of geographic and sector diversification.

The company’s recent trajectory has been marked by acquisitions that have expanded its technological and market scope. In 2019, the purchase of Nuance Communications’ assets in Brazil and Central America added voice messaging and microfinance services to its operations, as well as competencies in voice technologies. After the IPO and listing on B3’s Novo Mercado in 2021, Bemobi acquired M4U, strengthening its presence in digital payment solutions, and Tiaxa, expanding its capabilities in microfinance, credit scoring models, recurring billing management and anti-fraud controls. In 2022, it entered into its first partnerships with electric utilities to digitalize the payment journey of those consumers. In 2023, it acquired 7AZ, specialized in recurring billing SaaS for ISPs, and Agenda Edu, focused on SaaS solutions for K-12 schools, further integrating engagement and payment fronts across different verticals.

In 2024, the acquisition of Friday, a B2C payment management platform with a payment initiator (ITP) license, added to the group an infrastructure directly connected to the instant payments ecosystem, strengthening its payment methods offering. In parallel, Bemobi applied to the Central Bank of Brazil for an electronic money issuer license, which will allow the company to operate as an indirect Pix participant through its payment institution Bemobi Mobile Finance. These initiatives are aligned with its strategy of positioning itself as a vertical payments provider, integrating transactional solutions into its engagement SaaS base and other digital services, mainly in sectors with highly recurring billing.

From a geographic standpoint, Bemobi combines a strong presence in Brazil with significant international operations. The company maintains offices in Rio de Janeiro, São Paulo and Fortaleza, as well as units in Chile, Mexico and the Philippines, and employees distributed across 18 countries, including Peru, Colombia, Pakistan, Ukraine and Portugal. Brazil remains its oldest and most mature operation and the main source of large clients, but the company has, for example, expanded its Digital Subscriptions business into new geographies in Europe starting in 2024, onboarding 20 new mobile operators as clients for this service, 19 of them in Europe, especially Eastern Europe. Geographic diversification has helped dilute specific impacts such as the discontinuation of Oi Móvel and adverse exchange rate movements observed in recent years.

Sector-specific regulation applicable to Bemobi is relatively limited, since the company does not directly operate telecom or energy services, but instead provides digital and payment services to companies in those sectors. Its activities are subject to general legislation in the areas of labor, consumer protection, tax, anti-corruption, data protection and central bank rules, as well as the regulations of the Brazilian Securities and Exchange Commission (CVM) and B3, due to its listing on the Novo Mercado. The future operation of its payment institution, once authorized, will be subject to the rules of the Central Bank of Brazil. From an environmental standpoint, the company’s activities, which are essentially digital in nature, do not generate significant impacts, and legal efforts are focused mainly on labor and social security compliance, data protection and corporate governance, supported by a portfolio of registered trademarks and domain names that are relevant to sustaining the company’s services and digital presence.

Bemobi is classified as a technology company, focused on software, SaaS platforms and scalable digital solutions applied to payments, engagement and recurring services. BMOB3 shares, traded on B3, represent an interest in a business model that combines digital service subscriptions, payment infrastructure, credit analytics and relationship platforms, operating under a single reportable business line for accounting purposes. This integration of different technology fronts, aimed primarily at telecom, utilities, education and financial services partners in emerging economies, positions the company within the Software segment in the sector taxonomy used to classify listed companies in the Brazilian market.