Brazil's FinTech Is a Carnival of Innovation in Latin America

As we have been exploring FinTech ecosystems around the world, we couldn’t leave the LATAM region out of the radar. While Silicon Valley, New York and London are leading the FinTech world, Latin America is certainly on its way to a major transformation. This time, we will focus on Brazil’s FinTech, which represents a vibrant array of innovative players.

Brazil has an extremely fertile ground for FinTech as even though 85% of the population lives in cities, 40% remain excluded from traditional banking systems. FinTech companies focused on lending can do especially good in Brazil and have a positive impact on the livelihood of the population.

The future of Brazil’s financial industry is in mobile

Some segments in Brazil’s FinTech ecosystem are more developed than others and there is a logical explanation for it. Brazil has an interesting hallmark when it comes to financial services. Statistics from Ipea, the Brazilian Institute for Applied Economic Research, indicated that there are 55 million adults in Brazil with no bank accounts. On the other hand, data from the Brazilian Telecommunications Agency, Anatel, from June 2015 state that there are over 282.4 million mobile phone activations in Brazil with penetration a of over 115% in the whole country. With mobile being the primary channel for everything, FinTech companies looking to enter the market should pay particular attention to the mobile experience.

Brazil’s FinTech Companies

The following are some of the interesting players in Brazil’s FinTech ecosystem. The list is not exhaustive and new companies are either entering the market from abroad or launching in Brazil constantly.

Guia Bolso is an app for investment and financial services. The app has 1 million users.

Nubank is the leading digital finance company in Brazil.

BankFacil is an online personal finance solution that improves the relationship between borrowers and lenders.

ContaAzul is a management system that allows micro and small businesses to control their finances, sales and stock; and send electronic invoices.

Bidu is a Brazilian online insurance broker based in Sao Paulo with more than 600,000 people registered on the platform.

Vindi is a platform that provides payment gateways, invoice bills and financial services to small- and middle-market business.

Nibo is an online software that enables companies and accountants to manage and control their finances.

Iugu is a sub-acquirer that is leading 600 startups to sell through an easy integration and payment service.

Konduto is an online service that enables online retailers to reduce fraud in e-commerce by analyzing consumer behavior. is a PSP with fraud protection and a complete API for online merchants. is an integrated application with a payment credit card that helps people manage money.

Stone is an acquirer that is running fast on Brazilian payment ecosystem. It is integrated with gateways, software and thousands of customers.

ZeroPaper is a Web platform to small business control their finances (cash flow, budgets and invoices) that was acquired by Intuit.

Foxbit is a Latin American bitcoin exchange. Founded in 2014, the startup is leading the trade market of cryptocurrency in Brazil.

Minuto Seguros is an insurance brokerage company that specializes in selling insurance policies over the internet.

Kickante is a crowdfunding platform engaged with social causes in Brazil.

Magnetis is an online platform that helps Brazilian investors build a long-term investment portfolio.

Contabilizei is the first accountancy firm (in the cloud) that provides an online platform where small companies can save time and money with accounting services.

Lendico provides personal loans simply and securely over the Internet.

PagSeguro is an online Brazilian payments solution and money transfer service that allows users to send money via email and pay through credit cards and bank account transfers.

MoIP is an online payment solution in Brazil that allows a person (physical or corporation) to receive payments methods through the Internet.