alt.bank is a technology company.
alt.bank is a turnkey credit infrastructure platform specializing in prepaid and postpaid cards, utilizing AI and alternative data for accurate credit approvals.
alt.bank has raised $6.0M across 1 funding round.
alt.bank has raised $6.0M in total across 1 funding round.
alt.bank has raised $6.0M in total across 1 funding round.
alt.bank's investors include Foundation Capital, Index Ventures, Union Square Ventures.
alt.bank is a Brazilian fintech company founded in 2018 that builds an AI-powered neobanking platform targeting the unbanked and underbanked population, offering products like white-label credit cards, debit/prepaid cards, Pix payments, savings accounts, client onboarding, KYC, and telemedicine partnerships.[1][2][3] It serves low-income consumers in Brazil, including the illiterate, by solving barriers to financial access such as high costs, lack of trust, documentation issues, and limited ATM availability through a simple, color-coded app and responsible credit tools like the NovuCard.[1][2][3][5] The company has raised $22.2M total, reaching Series B stage with a recent $9.16M round about a month ago, showing strong growth momentum evidenced by nearly 1 million app downloads and partnerships with drugstores, healthtech Dr. Consulta, and investors like Union Square Ventures and Accial Capital.[1][2][4][5]
alt.bank was founded in 2018 in São Paulo, Brazil, by serial entrepreneur Brad Liebmann, former CEO of UK-based Simply Business, which he sold for $490M to Travelers in 2017, alongside country manager Fabio Silva.[1][2][4] Liebmann, motivated by a social mission to counter fintechs that "help wealthy people get wealthier," launched the company to serve Brazil's 100 million underbanked adults ignored by profitable traditional banks, designing an Android app usable by the illiterate via color prompts.[2][4] Early traction included a Union Square Ventures-led $5.5M Series A in 2021—USV's first in the region—partnerships like discounted telemedicine with Dr. Consulta, and drugstore discounts, building to over 1 million downloads despite pandemic challenges that kept Liebmann in London.[2][4]
alt.bank rides the fintech explosion in Brazil, a hotspot for neobanks like Nubank (recently raising $400M) and PicPay (IPO filing), amid Pix's instant payments disrupting high-fee banks and serving 100M+ underbanked in a market of extreme inequality.[2][4] Timing aligns with post-COVID digital acceleration, enabling remote investments and app adoption, while AI addresses predatory lending in emerging markets home to 2B unbanked globally.[1][3][4] It influences the ecosystem by pioneering impact-driven models—broadening capital access, partnering with healthtech/cooperatives like Sicredi/Dr. Consulta, and attracting global VCs like USV to Latin America, potentially scaling to other developing regions.[1][3][4][5]
alt.bank is poised for scaled expansion in Brazil via recent funding and Accial's credit facility, likely launching more AI credit products and entering adjacent markets to tap the global unbanked.[1][5] Trends like AI risk assessment, embedded finance, and regulatory openness in LatAm will propel growth, evolving its influence from local disruptor to regional leader in ethical fintech. This builds on its mission to empower the excluded, turning social impact into sustainable scale amid Brazil's banking reinvention.
alt.bank has raised $6.0M across 1 funding round. Most recently, it raised $6.0M Series A in May 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2021 | $6.0M Series A | Foundation Capital, Index Ventures, Union Square Ventures |