Jeitto, a São Paulo, Brazil-based neobank, closed a new round of funding.
Accion Venture Lab, the seed-stage initiative of global nonprofit Accion, made the investment.
The funds will allow Jeitto to grow its financial service offerings, enhance user experience, and reach more financially underserved consumers throughout the country.
Founded in 2014 by Fernando Silva and Adriano Duarte, CEO, Jeitto is a mobile-first neobank that provides credit, payment, and other financial services to underserved consumers. In the app, customers can pay e-commerce purchases, utilities, mobile top up, transport, gift cards, online entertainment and other services.
By leveraging alternative data and an underwriting algorithm, it offers transparent pricing to its more than 30,000 consumers amd enable them to build their financial confidence by rewarding positive behavior and gradually introducing them to a wider range of financial services.
FinSMEs
05/05/2019