Subscribe to Our Newsletter

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn't arrive within 3 minutes, check your spam folder.

Ok, Thanks

Brazilian fintech Blipay secures $6.7M to expand its salary anticipation product

Brazilian fintech company Blipay, which aims to improve financial service experiences, has raised $6.7 million in a Series A debt financing round from SRM Ventures, a corporate Venture Capital focused on fintech. Blipay’s primary business revolves around offering salary anticipation services to employees, enabling them to access their

Emmanuel Oyedeji profile image
by Emmanuel Oyedeji
Brazilian fintech Blipay secures $6.7M to expand its salary anticipation product
Photo by Christina @ wocintechchat.com / Unsplash

Brazilian fintech company Blipay, which aims to improve financial service experiences, has raised $6.7 million in a Series A debt financing round from SRM Ventures, a corporate Venture Capital focused on fintech.

Blipay’s primary business revolves around offering salary anticipation services to employees, enabling them to access their wages before the official payday with zero interest. Users can access BRL 1,000 ($194) a month and choose when to repay it over the next 30 days.

The fintech company currently operates in Brazil but plans to expand its product offerings and customer base to other categories. The company aims to serve 300,000 customers with its salary anticipation product.

Blipay says the funds will be used to expand the credit line for its salary anticipation product and grow the market in Brazil. Similarly, in January, Brazil-based FinTech company Transfeera, which provides companies with financial tools, raised $1.3 million in funding.

Emmanuel Oyedeji profile image
by Emmanuel Oyedeji

Subscribe to Techloy.com

Get the latest information about companies, products, careers, and funding in the technology industry across emerging markets globally.

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks

Read More