Badesul
Badesul is the state-owned development bank (Agência de Fomento) of Rio Grande do Sul, Brazil, channeling BNDES and FINEP credit lines and managing six state funds across agricultural, corporate, municipal, innovation, and small-business financing. It serves all 497 municipalities of the state.
- Company typePrivate
- Founded1973
- HeadquartersPorto Alegre, Brazil
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Badesul does
Badesul Agência de Fomento is the state-owned development bank of Rio Grande do Sul, Brazil, founded in 1973 and headquartered in Porto Alegre. Operating as a mixed-capital state enterprise (Sociedade de Economia Mista) under the supervision of the Rio Grande do Sul state government, it functions as the official development finance agency (Agência de Fomento) for the state, with a mandate to promote economic and social development through credit intermediation and fund administration.
The institution's product platform spans six principal lines: Agronegócio (twelve BNDES-linked rural credit lines including Moderfrota, Inovagro, PCA, Pronaf, and RENOVAGRO), Empresa (BNDES Automático, BNDES Finame, BNDES Energia Renovável, BNDES Mais Inovação, FUNGETUR, INOVACRED), Município/Badesul Cidades (financing for all 497 municipalities covering infrastructure, equipment, innovation, security, sustainability, tourism, and voluntary firefighting), Inovação (innovation financing including INOVACRED 4.0, AQUISIÇÃO INOVADORA, subsidy programs Centelha and Tecnova, and venture capital via FIPs), Fundos Estaduais (management of six state-level funds: FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, FUNTERRA), and Pequenos Negócios (loans up to R$500,000 for micro and small enterprises). Badesul Venture Capital has been investing in startups and innovative SMEs via FIP equity funds since 2011.
Revenue is generated primarily through interest income and fees on its lending portfolio, management fees on state funds, and returns from venture capital operations. Distribution combines direct enterprise and public-sector field sales, digital self-service portals (Área do Cliente, Protocolo Digital), a call center, and a channel partnership with Gyra for small business lending. The institution operates under formal corporate governance including a Board of Directors, Audit Committee, Eligibility Committee, and Fiscal Council, and maintains LGPD-compliant data protection practices.
Badesul firmographics
Firmographics- Name
- Badesul
- Legal name
- Badesul Agência de Fomento
- Website
- https://badesul.com.br
- Company type
- Private
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Badesul is the state-owned development bank (Agência de Fomento) of Rio Grande do Sul, Brazil, channeling BNDES and FINEP credit lines and managing six state funds across agricultural, corporate, municipal, innovation, and small-business financing. It serves all 497 municipalities of the state.
- Ownership category
- akta.pro rank
Badesul industry classification
Industry- Product category
- Development Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- National/Regional Development Finance Institutions (DFIs) (FSABAKAB)
- akta.pro secondary industries
- National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC), Bank-affiliated Venture Debt Lenders (FSANAIAA), Treasury, Cash Management & Liquidity (SME) (FSAGAJAG)
Keywords
Where Badesul is headquartered
LocationHeadquarters
- HQ city
- Porto Alegre
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Badesul business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Credit and lending operations: Badesul generates revenue primarily through interest income and fees on its portfolio of loans and financing agreements extended to rural producers, enterprises, municipalities, and small businesses across Rio Grande do Sul. As a state development bank (agência de fomento), its mission includes economic and social development, with revenue supporting institutional operations.
- Government fund management: Badesul manages multiple state-level funds on behalf of the Rio Grande do Sul government, including FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, and FUNTERRA, generating administrative and management fees.
- Venture capital operations: Badesul Venture Capital operates since 2011, investing in startups and small innovative companies via FIP (Fundo de Investimento em Participações) funds and other mechanisms, generating equity and investment returns.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Pequenos Negócios: Working capital loans for micro and small businesses with annual revenue up to R$ 4.8 million |
| Transaction based/ take rate | Monthly | Agricultural credit lines: PRODUTOR RURAL and AGRICULTOR FAMILIAR |
| Transaction based/ take rate | Monthly | Innovation financing: INOVACRED, INOVACRED 4.0, INOVACRED Telecom, AQUISIÇÃO INOVADORA |
| Transaction based/ take rate | Multi-year contract | Badesul Cidades: Municipal financing for infrastructure, sanitation, education, security, and sustainability |
| Transaction based/ take rate | Multi-year contract | Corporate credit: BNDES Automatico, BNDES Finame, BNDES Energia Renovável, BNDES Mais Inovação, FUNGETUR |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Badesul product offering
Product offeringCore offering
Badesul is the official state development bank (Agência de Fomento) of Rio Grande do Sul, Brazil, providing subsidized credit and financing solutions to rural producers, enterprises of all sizes, municipalities, innovation-driven companies, and micro/small businesses. It channels national development resources from BNDES and FINEP, manages six state-level development funds (FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, FUNTERRA), and operates a venture capital arm (Badesul Venture Capital) investing in startups since 2011.
Product overview
Badesul is a state development bank (Agência de Fomento) of Rio Grande do Sul, Brazil, offering a comprehensive portfolio of credit and financing products and services. The company's offerings are organized into six main product categories: (1) Agronegócio - financing for rural producers and family farmers including Agrotech, BNDES Agro, BNDES Finame Agrícola, Inovagro, Moderfrota, PCA, PROCAP-AGRO, PRODECOOP, Pronaf Agroindústria, PRONAMP Investimento, RENOVAGRO, and Moderagro; (2) Empresa - financing for businesses of all sizes including BNDES Automático, BNDES Energia Renovável, BNDES Finame, BNDES Mais Inovação, FUNGETUR, and INOVACRED; (3) Município (Badesul Cidades) - technical and financial solutions for municipalities including Bombeiros Voluntários, Cidades mais Verdes, Infraestrutura, Inovação, Máquinas, Segurança, Impacto e Sustentabilidade, and Turismo; (4) Inovação - innovation financing including AQUISIÇÃO INOVADORA, EDITAL SELEÇÃO FIPs 2024, FUNDOS INVEST. STARTUPS (Badesul Venture Capital), INOVACRED, INOVACRED 4.0, INOVACRED Telecom, PARCERIAS ESTRATÉGICAS, and PROGRAMAS DE SUBVENÇÃO ECONÔMICA; (5) Fundos Estaduais - management of state funds including FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, and FUNTERRA; (6) Pequenos Negócios - loans for micro and small businesses with annual revenue up to R$ 4.8 million. The company also operates RTD and SAEC platforms for loan documentation processes.
Differentiator
Problem solved
Functional benefit
Brands
- Badesul Venture Capital: Venture capital arm that has been fostering investment in startups and small innovative companies since 2011 through investment funds (FIPs) and other mechanisms.
Products and services
- Agronegócio — Agricultural Financing BNDES-linked credit lines for rural producers and family farmers in Rio Grande do Sul, including twelve specialized products: Agrotech, BNDES Agro, BNDES Finame Agrícola, Inovagro, Moderfrota, PCA (Programa de Construção de Armazéns), PROCAP-AGRO, PRODECOOP, Pronaf Agroindústria, PRONAMP Investimento, RENOVAGRO, and Moderagro. Supports modernization, storage expansion, machinery acquisition, irrigation, innovation in rural properties, animal health, soil recovery, and environmental impact reduction.
- Empresa — Corporate Financing BNDES-linked investment financing for private enterprises of all sizes headquartered in Rio Grande do Sul, including BNDES Automático (implantation, expansion, recovery, modernization of fixed assets), BNDES Energia Renovável (solar and wind generation systems and solar heaters), BNDES Finame (machines, equipment, buses, trucks), BNDES Mais Inovação (innovation, digitalization, new technologies), FUNGETUR (tourism financing), and INOVACRED (FINEP-funded innovation credit). Supports manufacturing, agribusiness processing, services, and tourism sectors.
- Badesul Cidades — Municipal Financing Technical and financial solutions for all 497 municipalities of Rio Grande do Sul, covering Infraestrutura (infrastructure works), Máquinas (road machinery and equipment), Inovação (digital transformation of public administration), Segurança (population security investments), Impacto e Sustentabilidade (socio-environmental impact projects), Turismo (tourism infrastructure), Cidades Mais Verdes (nature-based projects for environmental resilience), and Bombeiros Voluntários (support for voluntary fire brigades: buildings, vehicles, equipment).
- Inovação — Innovation Financing and Venture Capital FINEP-funded credit lines and venture capital for micro, small, and medium enterprises engaged in innovation activities. Includes INOVACRED (innovation credit), INOVACRED 4.0 (Industry 4.0 digitalization), INOVACRED Telecom (telecommunications innovation), Aquisição Inovadora (acquisition of innovative items), Badesul Venture Capital (FIP investment funds for startups since 2011), EDITAL SELEÇÃO FIPs 2024 (selection of equity investment funds for innovation), Parcerias Estratégicas (innovation hub partnerships), and Programas de Subvenção Econômica (Centelha and Tecnova subsidy programs).
- Fundos Estaduais — State Fund Management Management of six state-level development funds on behalf of the Government of Rio Grande do Sul: FEAPER (small producer support: registration, declarations, seed exchange), FOMENTAR (automotive development), FUNAFIR (hospital financial support and recovery), FUNDOPEM (industrial and regional development incentives), FUNPROCRED (student credit for higher education), and FUNTERRA (settlement, resettlement, and partnership integration programs).
- Pequenos Negócios — Small Business Lending Loans for micro and small businesses and individual entrepreneurs (MEI) in Rio Grande do Sul with annual revenue up to R$ 4.8 million. Loan limit of R$ 500,000 per borrower for maintenance and/or job generation purposes, governed by BNDES Circular 15/2022. Distributed digitally via the Gyra partner platform (gyramais.com.br/badesul/mpe).
Quantifiable outcome
- Badesul Cidades serves all 497 municipalities of Rio Grande do Sul
- +2 more outcomes
Companies that use Badesul
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles5 records
Badesul technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Badesul partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Gyra (digital lending platform)coreGyra serves as a digital distribution partner for Badesul's Pequenos Negócios (small business credit) product, enabling online loan origination and management for micro and small enterprises with annual revenue up to R$ 4.8 million. The partnership extends Badesul's reach into the digital channel for SME lending via gyramais.com.br/badesul/mpe.
- Government of Rio Grande do SulcoreBadesul operates as the official development bank (agência de Fomento) of Rio Grande do Sul state, managing six state development funds (FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, FUNTERRA). The state government provides mandate, oversight through the Board of Directors, and policy direction. Badesul Cidades program delivers the state's municipal development agenda.
- Coprel (Cooperativa de Energia)minorCoprel is a electricity cooperative that received Badesul financing for infrastructure expansion, including a new electrical substation benefiting multiple municipalities. Featured as a customer case study demonstrating Badesul's support for regional infrastructure development.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Badesul competitors and assessment
Company assessmentBroad incumbents
- FINEP - Financiadora de Estudos e Projetos: Brazilian innovation financing agency that funds Badesul's INOVACRED family of products. Defines the policy and capital parameters for Badesul's innovation lending business.
- BNDES - Banco Nacional de Desenvolvimento Econômico e Social: Brazil's national development bank and Badesul's primary upstream capital partner. Not a direct competitor on a state level, but defines the policy and funding environment within which Badesul operates its BNDES-linked lines.
Direct peers
- BADESC - Agência de Fomento do Estado de Santa Catarina: State development agency of Santa Catarina with analogous mandate: financing for agriculture, industry, innovation, and municipal development via BNDES-linked lines and state funds. Operates in an immediately adjacent state with similar institutional design.
- DESENVOLVE SP - Agência de Desenvolvimento Paulista: São Paulo state development agency offering BNDES-linked credit, innovation financing (FINEP programs), and SME lending. Larger-scale peer given SP's economic size, but structurally and operationally comparable to Badesul.
- BASA - Banco da Amazônia: Federal regional development bank serving the Amazon region with analogous development-finance mandate, agricultural credit lines, and state fund relationships. Structurally similar to Badesul but operating in a distinct macro-region.
- AGE Rio - Agência Estadual de Fomento do Rio de Janeiro: Rio de Janeiro state development agency focused on SME and innovation financing with BNDES/FINEP partnerships. Comparable institutional design and segment focus to Badesul's Pequenos Negócios and Inovação verticals.
- BRDE - Banco Regional de Desenvolvimento do Extremo Sul: Multi-state regional development bank serving southern Brazil (Rio Grande do Sul, Paraná, Santa Catarina). Closest peer given overlapping geography, development finance mandate, and product mix including agricultural, industrial, and innovation credit lines.
- BDMG - Banco de Desenvolvimento de Minas Gerais: Minas Gerais state development bank providing BNDES-linked lines, state fund management, and innovation financing for SMEs and municipalities. Closely analogous operating model and product architecture to Badesul.
- AFAP - Agência de Fomento do Amapá: Amapá state development agency operating with the same BNDES-intermediation model and state fund management structure. Smaller-scale but institutionally comparable peer operating in a distinct Brazilian region.
Regional players
- Banrisul - Banco do Estado do Rio Grande do Sul: Rio Grande do Sul's state commercial bank and the most direct in-state competitor for SME, agricultural, and municipal clients. While not a development bank, Banrisul competes with Badesul for the same RS-based customer base with greater product flexibility.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Badesul social profiles
Digital presenceBadesul compliance and trust
Trust signalCompliance1 record
Badesul financial estimates
Financial estimateRevenue estimate
Valuation estimate
Badesul leadership team
Management profileNumber of profiles
Profiles24 records
Badesul funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Badesul M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Badesul
What does Badesul do?
Badesul is the official state development bank (Agência de Fomento) of Rio Grande do Sul, Brazil, providing subsidized credit and financing solutions to rural producers, enterprises of all sizes, municipalities, innovation-driven companies, and micro/small businesses. It channels national development resources from BNDES and FINEP, manages six state-level development funds (FEAPER, FOMENTAR, FUNAFIR, FUNDOPEM, FUNPROCRED, FUNTERRA), and operates a venture capital arm (Badesul Venture Capital) investing in startups since 2011.
Is Badesul a public or private company?
Badesul is a private company. It is classified as state government owned and is currently operating.
When was Badesul founded?
Badesul was founded in 1973. It employs 101 to 250 people.
Where is Badesul based?
Badesul is headquartered in Porto Alegre, Brazil, in the Latin America region.
How does Badesul make money?
Three revenue lines are on record. Credit and lending operations are the primary driver. The others are government fund management and venture capital operations.
Who are Badesul's main competitors?
Broad incumbents on record are FINEP - Financiadora de Estudos e Projetos and BNDES - Banco Nacional de Desenvolvimento Econômico e Social. Direct peers are BADESC - Agência de Fomento do Estado de Santa Catarina, DESENVOLVE SP - Agência de Desenvolvimento Paulista, BASA - Banco da Amazônia, AGE Rio - Agência Estadual de Fomento do Rio de Janeiro, BRDE - Banco Regional de Desenvolvimento do Extremo Sul, BDMG - Banco de Desenvolvimento de Minas Gerais and AFAP - Agência de Fomento do Amapá. Banrisul - Banco do Estado do Rio Grande do Sul is listed as a regional player.
Does Badesul have an API?
No public API is recorded for Badesul.
What industry is Badesul in?
Badesul's product category is Development Banking. Its primary akta.pro industry code is FSABAKAB, National/Regional Development Finance Institutions (DFIs), with a secondary code of BPADACAC, National Development Banks & State Development Finance Institutions (DFIs). Its NAICS code is 5221 and its SIC code is 6159.