3 innovative FinTechs in Brazil transforming the financial sector

By Leandra Monteiro

In Latin America, Brazil is the largest country. According to Statista, Latin America has recently seen an increase in FinTech startups, with Brazil, Mexico, and Argentina have the highest number of FinTech startups in the region. With one of the largest Latin American financial markets, Brazil’s number of FinTechs has soared over the past years.

Across the world, there are more than 700 unicorns, and 19 of them are located in Brazil. The country also witnesses 58% share of the VC deals that happened in Latin America.

Below are 3 top Brazilian FinTechs revolutionising the financial sector:

• Clara

Clara is a spend management platform for companies in Latin America. Its end-to-end solution includes locally-issued corporate cards, Bill Pay, financing solutions, and highly-rated software platform used by thousands of companies across the region. Clara is backed by top global and regional investors such as Coatue, DST Global Partners, General Catalyst, monashees, Kaszek, Canary, A*, BoxGroup, SV Angel, GFC, Picus Capital, Avid Ventures, ICONIQ Growth, Goldman Sachs, and prominent angel investors.

• Creditas

Creditas was founded in 2012 by Sergio Furio. It is headquartered in São Paulo, Brazil and has raised $564 million. It is an online platform for asset-backed consumer loans including vehicle-backed loans, property-backed loans, personal loans, payroll loans, salary advances, and more.

The asset-backed loans are provided on the basis of collateral evaluation. The platform is integrated into the company’s existing payroll software to provide payroll loans to employees. It also enables users to exchange debts for a secured loan.

• Husky

Founded in 2016, Husky is an international payments service. The company is a 100% bootstrapped FinTech, which means it has no outside investors.

Husky aims to be one of the leading finance companies in Brazil, which does not compromise on core values. Be it workforce, advertisers, vendors or other companies, Husky provides solutions for batch payments in Brazil. The company is authorized by the Brazilian Central Bank.