Brazil’s start-up back-office services provider, BHub has raised US$20 million for its planned Latin American expansion.

Based in Sao Paulo, BHub core business is taking charge of customers’ important but non-core functions, such as customer service, legal, human resource management and bookkeeping, thus freeing clients for them to focus on core business.

BHub’s service is similar to that of a US startup Pilot, which is backed by Jeff Bezo, American entrepreneur, media proprietor, investor and computer engineer, who founded Amazon.

With around 50 staff, BHub is currently serving more than 130 customers. However, the startup says it is confident of acquiring more than 2,000 customers by the end of 2022.

Speaking with TechCrunch, BHub’s founder, Jorge Vargas Neto explained that he observed the demand for back-office services when he sold Zen Finance in 2020, noting that the accountants he hired had messed up the books and his employees had to work hard for two weeks to fix it.

“It was hellish, but I’m grateful for that experience,” he recounted, explaining how he ended up launching a startup to provide back-office services.

His competitors are large accounting firms, but BHub says most of its rivals are not armed with the kind of technology solutions that his company has lined up.