Better-than-expected growth in Brazil’s gross domestic product in the first half of the year and a record grain harvest in 2022-2023 have boosted diesel consumption. Financial services company StoneX forecasts a 1.71 percent increase in diesel demand for 2023 compared to last year. Major fuel consumers in the agribusiness sector are precisely those targeted by fintech company X7 Bank.
State of play. The freight transportation sector in Brazil still operates informally in many respects. Many transactions are conducted via WhatsApp, and companies of all sizes still struggle to collect invoices for fuel purchases, which hinders accounting and auditing processes. X7 Bank has developed a customized solution to solve this problem.
Why it matters. Cargo transportation in Brazil relies heavily on trucks but is plagued by roads in poor condition. Trucks traveling on highways connecting the Center-West region — Brazil’s soybean hub — to ports in the North consumed an additional 41.5 million liters of diesel due to road conditions.
How it works. Truck drivers use a mobile app to fill their gas tanks. On the same platform, gas stations generate digital...
Search
