Brazil has emerged as a fintech powerhouse in Latin America (LatAm), now home to the highest number of fintech startups. In 2023, Brazil accounted for 24% of all fintech companies in Latin America and the Caribbean (LAC) with 722 companies, according to a 2024 report by the Inter-American Development Bank (IDB) and Finnovista.

The country also consistently attracts the lion’s share of fintech funding in LatAm. In 2024, Brazilian fintech startups secured a total of US$1 billion in venture capital (VC) funding, representing 42% of all fintech investments in the region. This underscores the country’s leadership in LatAm, data from CB Insights’ State of Fintech 2024 show.

With Brazil continuing to lead the LatAm fintech scene, we look today at the country’s largest and most prominent fintech startups and unicorns, spotlighting the country’s fintech innovators and trailblazers.

For this list, we focus on independent, fintech startups headquartered in Brazil, excluding companies that have been acquired or which have gone public. We explore their value propositions, growth strategies and recent strides, emphasizing their success and scale.

C6 Bank

Founded in 2018 and headquartered in Sao Paulo, C6 Bank is a full-service bank for individuals and businesses. The company operates without physical branches and offers affordable financial products to customers of all profiles, including personal checking and savings accounts, credit cards, loans, investments, and payment processing.

C6 Bank charges no fees for basic products, such as checking account maintenance, payments, withdrawals and transfers, and focuses on providing innovative services, such as Conta Global, its international account; C6 Tag, its automated toll payment system; and C6 Invest, a complete investment platform. In addition to its core banking operations, the group also operates C6 Seg, an insurance advice and consultancy; and IDEA9, a corporate education platform.

In 2021, JPMorgan Chase became a partner in C6 Bank, acquiring a 40% stake in the Brazilian bank. Though C6 Bank still mainly focuses on the Brazilian market, the bank plans to expand to other LatAm countries in the future.

Last year, C6 Bank achieved its first annual profit, reporting BRL 2.3 billion (US$383 million) in net earnings. Customer deposits surged by 54% year-over-year (YoY) to BRL 57 billion (US$9.5 billion) while its customer base surged to nearly 30 million customers, from just 8 million in 2021. This underscores the bank’s rapid growth.

C6 Bank has raised about US$335 million in VC funding, according to Dealroom. The company is worth US$5.05 billion, making it the most valuable fintech startup from Brazil.

CloudWalk

Founded in 2013, CloudWalk is a fintech company that provides artificial intelligence (AI) and blockchain-driven financial solutions to individuals and small businesses. With a focus on modernizing payments and financial tools, the company operates primarily through its flagship brands: InfinitePay in Brazil, and JIM.com in the US. InfinitePay offers payment solutions, such as card machines, bank accounts and various financial services for merchants and companies, while JIM.com is a software that lets merchants accept contactless debit and credit cards or digital wallets right from their phone, with no extra hardware needed.

Other key products and features include Infinite Nitro for instant payouts, Payment Link for seamless online transactions, Supercobra for streamlined accounts receivable management, and its proprietary tap-to-pay solution, Infinite Tap. Additionally, CloudWalk offers AI-driven lending through Infinite Cash and supports instant payments via PIX processing.

CloudWalk serves more than 1 million customers across over 5,500 Brazilian cities. The company commands 1% of the market.

CloudWalk reached its first full year of profitability in 2023, achieving total revenue of US$320.5 million. In 2024, the company expanded to the US, starting in New York City, San Francisco, and Austin. That year, it reached an annualized revenue of US$562 million, tripled its seller base to 3 million, and strengthened global expansion with fintech solutions for micro, small, and medium-sized enterprises (MSMEs).

CloudWalk has raised over US$365 million from top investors including Coatue, DST, A*, The Hive, The Light Capital, and Plug and Play Ventures. It’s worth US$2.15 billion, making it the second most valuable fintech startup from Brazil.

Creditas

Founded in 2012, Creditas is a fintech platform for secured and specialized financial solutions. Operating across three ecosystems, namely auto, home and employee benefits, the company provides financing products, digital insurance and consumer solutions, using proprietary technology to deliver a unique customer experience.

With 12 years of operation, Creditas claims it is the largest online credit platform in LatAm, surpassing 13 million credit requests, a credit portfolio of BRL 6 billion (US$1 billion), and more than 60 issuances in the capital markets. In Q4 2024, the startup continued to deliver record financial performance, generating BRL 530.7 million (US$90 million) in quarterly revenue, up 11.7% quarter-on-quarter (QoQ).

This year, Creditas was once again recognized as one of the most high-impact companies globally, securing a place on Endeavor’s annual “Outliers” list for the eighth consecutive year.

Creditas has raised about US$879 million in funding from major international funds, such as Softbank, VEF, Kaszek, and Redpoint, among others. The startup is valued at US$1.75 billion.

Dock

Originally founded as Conductor in 1999, Dock has evolved from being a payment authorizer focused on card processing into becoming a leading tech platform for payments and digital banking across LatAm.

Today, the company provides a comprehensive suite of fintech solutions through Dock One, its end-to-end platform that brings together card issuance, digital banking, credit, fraud prevention and acquiring solutions. It serves

It manages technology, operations, and regulatory complexity so clients can focus on growing their businesses.

Dock claims more than 300 clients, 75 million active end users, and over 8 billion transactions annually, totaling US$240 billion. The company operates in Brazil, Mexico, Peru, Colombia, Ecuador, Argentina, Panama, Chile, and the Cayman Islands.

Dock has raised US$293 million in funding, according to Dealroom. It’s worth US$1.5 billion.

Agibank

Founded in 1999, Agibank is a Brazilian fintech company that blends digital banking services with a physical presence. The company offers a range of financial products, including digital checking accounts, credit cards, and personal loans, primarily targeting underserved populations such as retirees and state workers.

Agibank operates under an hybrid model, which combines a complete, light and fast digital bank, with “Smart Hubs” that provide an accessible face-to-face experience for all Brazilians. This approach allows it to acquire more customers and build lasting relationships.

Agibank recorded strong results in H1 2024, reporting a net income of BRL 440.5 million (US$US$85.7 million), three times higher than in the same period the previous year. It claims more than 3.2 million active customers.

Agibank has raised about US$136 million in funding, according to Dealroom. It’s valued at US$1.49 billion.

Neon

Founded in 2016, Neon is a neobanking startup,offering digital accounts, credit cards, personal loans, and investments. The company aims to provide accessible financial solutions for Brazilians, emphasizing ease and convenience.

Neon’s offerings include a no-annual-fee Visa credit card, digital accounts with Pix and transfers, and the Neon CDB investment product, which offers high returns. The company serves more than 30 million customers.

Neon has been focusing on reaching profitability. The company has also been pursuing strategic acquisitions, recently purchasing Biorc, Leve, and Consiga Mais, and Mangliano Invest, a brokerage firm.

Neon has raised about US$754 million in equity funding to date,according to Dealroom. The company raised its last round in September 2024,securing US$102 million in a Series E to enhance its technology. Neon is valued at US$1.38 billion.

QI Tech

Established in 2018, QI Tech is a financial infrastructure platform spanning financial, credit, banking, and anti-fraud solutions. This platform offers a comprehensive set of application programming interfaces (APIs) that allows any business to integrate digital banking tools such as digital onboarding, facial recognition, credit scoring, digital account opening, wire transfers, Pix payments and credit underwriting.

With licenses from the Brazilian central bank, QI Tech’s full-stack banking-as-a-service (BaaS) solution is designed to make obtaining and offering banking services simpler, more accessible and compliant. The company provides agility and convenience by making debt issuances fully digital, allowing QI Tech’s clients to focus on creating great products while the company takes care of the banking requirements.

QI Tech has a client base of over 400 customers, among which companies like Vivo, 99, and QuintoAndar. The startup has secured a total of US$312 million in equity funding to date, data from Dealroom and CB Insights show. It’s valued at US$1 billion.

Ebanx

Founded in 2012, Ebanx is a leading payment company connecting global companies with customers from fast-growing digital markets across Africa, Asia and LatAm. The company offers a platform for processing online purchases, managing funds from pay-ins to payouts, and facilitating transactions in various currencies and payment methods, including alternative options.

Leveraging proprietary technology, deep market expertise, and robust infrastructure, Ebanx enables global companies to offer hundreds of local payment methods. More than just payments, the solution also drives growth, enhances sales, and delivers seamless purchase experiences for businesses and consumers alike.

Ebanx serves more than 1,600 global digital companies across verticals such as e-commerce, gaming, software-as-a-service (SaaS), streaming, social media, creator’s economy at large, and travel, helping brands such as Airbnb, Spotify, Aliexpress, Shopee, Sony, and Uber expand their businesses worldwide by offering over 200 payment methods in our portfolio to integrate. The company claims it has reached more than 100 million consumers.

With nine offices worldwide and a presence in nearly 20 countries, Ebanx is one of Brazil’s most successful fintech startups, having raised US$460 million in funding and reaching a US$1 billion valuation, data from CB Insights and Dealroom show.

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