Banco Maré
A Simple Bank for a Simple Life
Rio de Janeiro, Brazil · Founded 2017
- Headquarters
- Rio de Janeiro
- Founded
- 2017
- Business Model
- B2C
- Website
- bancomare.com.br
- Last Round
- GrantSep 2018
- Rounds
- 1
About
Banco Maré is a Brazilian social fintech, founded in 2016 by CEO Alexander Albuquerque, that brings digital banking access to residents of Rio de Janeiro's Maré favela complex and other underserved communities traditional banks do not serve. Through a mobile app supported by local Kiosco partner shops, users make bill payments, phone top-ups, and P2P transfers, and access a health assistance plan called TEM Saúde; transactions settle in the company's own cryptocurrency, Palafita, pegged 1:1 to the Brazilian real to reduce the risks of carrying cash in high-risk areas. Banco Maré also offers a prepaid credit card and POS-based digitization tools letting local small businesses accept cashless payments.
Summary
Banco Maré is a Fintech company based in Rio de Janeiro, Brazil, founded in 2017. Its most recent funding was a Grant round in Sep 2018. Investors include The Catalyst Fund.
Funding History
Sep 2018
Investors
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