Plamev Pet

Why is Plamev Pet a Brazilian company with high return potential?

Brazil is the sixth-largest pet products and services market in the world, representing an industry with annual revenues of BRL 42 billion, according to Abinpet (Brazilian Association of the Pet Products Industry – 2022 data).

Focusing only on veterinary services (pet vet) and animal care (pet care), the Brazilian market amounts to BRL 8.4 billion.

The relevance of this market is driven by Brazil’s growing pet population, which already surpasses the number of children and adolescents. According to IBGE, there are 149.6 million pets in the country, of which 85.2 million are dogs and cats, compared to 53.7 million children and adolescents. Within this context, the demand for pet health plans is rapidly increasing.

In the United States — the largest pet market in the world (source: Euromonitor and Abinpet) — industry revenues grew 26% per year between 2017 and 2021, while the number of insured pets increased 21.6% annually during the same period.

In Brazil, however, pet health and assistance plans remain an underpenetrated market with significant growth potential. Service penetration is just 0.5%, meaning that only 1 out of every 200 pets has some type of health protection. By contrast, in several European markets this rate can reach 40%.

Plamev Pet Leads This Transformation

Today, Plamev Pet is the best-positioned company to scale alongside the expansion of this market, as the largest independent provider of pet health and assistance plans in Brazil. The company has grown through a strategy focused on the Northeast region, an area with high growth potential and limited presence of other players. Plamev’s entry into the Southeast began in Minas Gerais, where it is now headquartered. This represents the opposite path of its main competitor, which concentrates on the South and Southeast (São Paulo and Rio de Janeiro), resulting in minimal market overlap.

Headquartered in Minas Gerais, Plamev Pet is currently present in 9 states and 360 cities nationwide, supported by a consistent expansion plan.

In recent years, Plamev Pet has doubled in size annually, with an average annual growth rate of 104%. Between 2019 and 2022, revenues increased eightfold, rising from BRL 2.3 million to BRL 19.6 million.

And the ecosystem driven by Plamev Pet is experiencing exponential growth.

Disruptive Business Model

Plamev Pet offers pet health and assistance plans through a disruptive, digital-based business model.

With dashboards that allow real-time monitoring of results, the company can make decisions quickly and effectively. As a result, Plamev Pet’s loss ratio is below 50%, compared to the market average of around 70%¹.

The company has made significant investments in developing the Plamev Appet, a tool designed for the daily lives of dogs and cats that literally gives pets a voice. The app has reached approximately 40,000 downloads across different platforms.

Plamev Pet also offers a broad range of plans, accessible to all income levels. Its products are transparent, with no hidden costs or surprises for pet owners.

Plamev Pet is Recognized by the Market and Its Customers

Plamev Pet is a 100% Brazilian company and was selected to join the 2021 Endeavor Scale Up program, being recognized as one of the country’s leading high-growth companies with strong impact potential.

Its executives bring deep expertise and experience, combined with a proven track record in creating and generating business value.