By Luciana Magalhaes

SAO PAULO, Nov 27 (Reuters) - Brazilian financial tech firm StoneCo STNE.O has received multiple nonbinding offers for its software unit Linx, but the bids so far are below what it paid for the asset in 2020, according to three people familiar with the negotiations.

StoneCo, which is listed in New York, bought Linx for 6.7 billion reais ($1.14 billion) four years ago.

As of now, 20 potential bidders have signed non-disclosure agreements to have access to information regarding the sale, two of the people told Reuters.

The companies include Brazilian software firm Totvs SA TOTS3.SA and Canada's Constellation Software CSU.TO, according to the same sources.

Of the 20, six firms have made non-binding offers, the sources said.

Totvs this week confirmed an ongoing process which may result in a nonbinding proposal. The firm said it has not yet made an offer to buy Linx.

Constellation did not immediately reply to requests for comment.

StoneCo declined to comment.

A person familiar with the bidding process said some offers made so far were more than 50% lower than what StoneCo paid for Linx four years ago. Another source said there were bids higher than that, noting that StoneCo would probably not consider selling Linx for much less than 5 billion reais.

Reuters reported in September that Stone had hired investment banks J.P. Morgan and Morgan Stanley to sell Linx.

The company later confirmed it had hired advisers to explore options regarding its software business, without setting a deadline for any kind of deal.

Stone is in a comfortable financial position and has no urgency to sell Linx, one of the people familiar with the talks said.

Earlier this month, StoneCo authorized a share repurchase program of up to 2 billion reais.

(Reporting by Luciana Magalhaes; Editing by Chizu Nomiyama)

((Luciana.NovaesMagalhaes@thomsonreuters.com;))