The trajectory of Vasco Oliveira, CEO and co-founder of Nstech, begins far from technology. Born into a family of agribusinesshe grew up within the world of meat processing plants and it was there that he experienced some of the hardest lessons of his business life.
“Everyone was from agriculture. And, consequently, entrepreneurs”, he remembers. “I followed my father closely in the 90s, when hyperinflation and the arrival of the Real Plan changed everything”, he remembers.
The sector, highly dependent on credit and financial operations, collapsed.
“We went through bankruptcy, we sold farms, cattle, real estate. They were very difficult years. I had to help close operations before I even started my own career.”
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After this period, he received an invitation from Ricardo Mansur, then owner of Mappin and Mesbla. “I started when I was 23 and left when I was 24, firing more than 2,000 people,” he says. “It was a lifetime MBA. I opened a store, closed a store, renegotiated debt. Many people at 40 hadn’t seen what I saw at 24.”
But despite the intense experience, something was missing: “It wasn’t mine. I wanted to build something with a tailwind.” The turning point came with the creation of his first technology company for refrigerators and then with AGV Logística, which started small, but became one of the largest in the country. “Whoever is born big is an elephant”, he jokes.
The businessman participated in the program From Zero to Top during a special episode of the InfoMoney in partnership with XP, which brought together, for a week in free online panels, experts to interpret the scenario and point out ways to allocate in each asset class.
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The turn to logistics
AGV Logística grew more than 100% per year in some periods, went through crises, almost went bankrupt twice, but later consolidated. After 21 years, the company has become the 2nd largest integrated logistics operator in Brazil, with almost 100 distribution centers. In 2019, Vasco sold the company to the Mexican group Femsa.
During his life as a logistics operator, Vasco noticed a structural problem: logistics had become too complex, but still very little digitalized.
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“Even with a team of 70 developers, I was dependent on 20 other software vendors. It was impossible to integrate everything.”
This was the trigger to create Nstech, a platform that consolidates technology for the entire logistics ecosystem—shippers, carriers, drivers, insurers, retail, fuel. In 5 years, the company has already accumulated 37 acquisitions, billion-dollar revenue and a bold strategy of consolidating dozens of players into a single technological system.
“We made 37 acquisitions to accelerate our platform. Today we have 130 integrated solutions. We have already exceeded R$1 billion in revenue, more than R$100 million in recurring revenue, presence in 16 countries and position as the largest logistics technology company in Latin America. We want to digitize all land transport. It’s a US$10 trillion market in the world”, he says.
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Investor search
When asked about attracting investment, Vasco is direct. “Before looking for an investor, the entrepreneur needs to decide what he wants in life. There is no right or wrong. There is alignment.”
He also reinforces that care must happen on both sides. “It’s not just the fund that evaluates the company. You also have to evaluate the fund. Behind the CNPJ, there are CPFs. It’s them that you will deal with.”
Regarding entrepreneurship, Vasco also says that anyone who has a partner has a boss, as there is no way to escape accountability. And for him there is only one reason why companies fail.
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“All companies fail for the same reason: they run out of cash. Brazil has a low savings rate, little financial education and this destroys businesses. Cash is life or death”, he summarizes.
Internationalization and future
The next step is to expand mesh density in the region to intensify the network effect. “Our model is designed to grow revenue, margin and cash generation for decades. We grow more than 30% per year with our own cash. We will only bring in new capital if it makes strategic sense”, he concludes.
To find out more details about Vasco’s entrepreneurial journey and behind-the-scenes behind the creation of nstech, see the full episode on From Zero to Top. The program is available in its podcast version on the main streaming platforms such as ,, , , and .
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About From Zero to Top
The Do Zero ao Topo podcast is a production of InfoMoney and brings, every week, the stories of prominent women and men in the Brazilian market to tell their story, sharing the biggest challenges faced along the way and the main strategies used in building the business.
