Brazil is the largest country in Latin America and the biggest fintech market in the region. There are close to 700 startups located in the country. In the first quarter of 2021 alone, Brazilian startups have attracted investments worth more than USD 400 million.
Brazil has become the fifth leading fintech market globally. Even in 2020, the fintech market raised USD1.3 billion, up from USD 910 million in the previous year, indicating that the Brazilian market is booming with time.
We have carefully curated the top 10 fintech startups in Brazil, which comprises the movers and shakers in the industry.
10. FinanZero –
Founders: Joakim Pops, Kristian Jacobsson, Olle Widén
Founding Year: December 2015
Headquarters: São Paulo, Brazil
Total Funding Received: USD 22.8 Million
Investors: Atlant Fonder AB, Webrock Ventures, VEF, Dunross & Co, Zentro Founders
FinanZero is a loan brokerage platform that assists consumers in negotiating with financial institutions for obtaining loans. FinanZero has partnered and connected with more than 50 lending partners on the platform and backs the customer from the start till the finish of the lending process.
09. EBANX –
Founders: Alphonse Voigt, João Del Valle, Wagner Ruiz
Founding Year: February 2012
Headquarters: Curitiba, Parana, Brazil
Total Funding Received: USD 30 Million
Investors: Endeavor Catalyst, FTV Capital.
EBANX is an international financial integrated service startup that provides end-to-end payments service across the flow of e-commerce transactions.
In the year 2015, EBANX was awarded as EY Entrepreneur of the year, Endeavor “O Pulo do Gato” award and Best International CNP Program award.
08. A55
Founders: Andre Wetter, Hugo Mathecowitsch
Founding Year: 2018
Headquarters: São Paulo, Brazil
Total Funding Received: USD 42 Million
Investors: Accial Capital, Mouro Capital, E3 Negócios, TM3 Capital, SaaSholic
A55 is a financial underwriting platform that offers a revenue-backed credit line system to companies with recurring revenue. The company’s platform underwrites SMEs through a technology platform that connects bank accounts, billing, payments and more, enabling borrowers to get a credit monitoring dashboard and also allows lenders to get a monitoring platform powered by real-time transactional data.
07. Weel
Founders: Russell Weiss, Shmuel Kalmus, Simcha Neumark
Founding Year: 2014
Headquarters: São Paulo, Brazil
Total Funding Received: USD 63.1 Million
Investors: Banco Votorantim, Franklin Templeton Investments, Monashees, Mindset Ventures, FJ Labs
Weel is an online financial management platform that assists businesses in managing their cash flows. On 7 June 2021, a financial solution hub, BS2 acquired Weel for an undisclosed amount.
06. GUIABOLSO
Founders: Benjamin Gleason, Thiago Alvarez
Founding Year: 2012
Headquarters: São Paulo, Brazil
Total Funding Received: USD 66 Million
Investors: VEF, Ribbit Capital, Kaszek, QED Investors, International Finance Corporation, Igah Ventures, Richmond Global Ventures.
Guiabolso is a pioneering online financial control and advisory platform built to streamline finances. Guiabolso is the only startup in Brazil that has optimized and calibrated an end-to-end Open Banking solution. It goes beyond the old-time account data collection and offers additional values like personal financial management, analytics, and a marketplace.
05.RecargaPay
Founders: Alvaro Teijeiro, Gustavo Victorica, Rodrigo Teijeiro
Founding Year: Feb 1, 2010
Headquarters: São Paulo, Brazil
Total Funding Received: USD 98.6 Million
Investors: ATW Partners, Experian Ventures, LUN Partners Group, IDC Ventures, Fuel Venture Capital, TheVentureCity Fund
RecargaPay is one of the leading fintech startups in Brazil that provides an unmatched payment experience for essential and frequent payments. The startup is on a mission to democratize financial services and mobile payments.
04. NEON
Founders: Pedro Conrade
Founding Year: 2016
Headquarters: São Paulo, Brazil
Total Funding Received: USD 420.3 Million
Investors: Propel Ventures, Monashees, Quona, Yellow Ventures, Omydiar Network and Tera Capital
Neon is a Brazilian fintech company whose mission is to unite design and technology to simplify customers’ financial experience. The startup’s platform provides banking services to its users without the need for a physical branch. It has partnered with Banco Votorantim for the settlement and custody of its accounts.
03. CREDITAS
Founders: Sergio Furio
Founding Year: Apr 16, 2012
Headquarters: São Paulo, Brazil
Total Funding Received: USD 564 Million
Investors: Headline, SoftBank Vision Fund, Kaszek, SoftBank Latin America Ventures, VEF, Amadeus Capital Ventures, LightRock, Mouro, Endeavour Catalyst, Quona Capital
Creditas is a digital platform that offers secured consumer loans. It offers loans at a lower interest rate than other lenders in the country. It is Brazil’s largest fintech startup for secured loans for consumers and is rapidly expanding globally.
02.PagSeguro
Founders: part of Universal Online
Founding Year: Sep 5, 2006
Headquarters: São Paulo, Brazil
Total Funding Received: USD 2.3 Billion (at IPO)
Investors: n/A
PagSeguro is an NYSE listed startup that provides mobile and online payments solutions for businesses. It is a part of UOL Group, one of Brazil’s biggest portals on the Internet with more than 50 million visitors and 6.7 billion views per month.
PagSeguro provides billing options through email for SME businesses and micro-merchants across the globe. It provides customers 25 payment options. It intermediates payments between sellers and buyers by providing payment for the purchase in an alternative form. Till now it has more than 13 million registered users, globally.
01. Nubank
Founders: Adam Edward Wible, David Osorno, David Velez
Founding Year: May 6, 2013
Headquarters: São Paulo, Brazil
Total Funding Received: USD 2.3 Billion
Investors: Sand Capital, MSA Capital, Kaszek, Sequoia Capital, GIC, Tencent, Invesco, Dragoneer Investment Group, Berkshire Hathaway
The largest and most valued unicorn in the Latin American fintech industry, Nubank provides digital banking services to its customers. It offers digital credit cards that can be fully managed via a mobile application.
Customers can raise their credit card limit, block it, and check transactions in real-time. Nubank is the sixth-largest company to provide a credit card in Brazil. It has accumulated more than 20 million customers globally and is valued at around USD 10 billion.
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