Brazilian fintech Paketá raises BRL 27 mi from Itaú Unibanco's venture capital fund

Aiming to develop payroll loan solutions, Brazilian fintech Paketá raised capital from one of the biggest banks in Brazil, Itaú Unibanco

Paketá raises capital Itau Unibanco
Photo: Paketá/Courtesy
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Brazilian fintech Paketá announced this Monday (13) a BRL 27 million Series A round. Kinea Ventures, Itaú Unibanco’s venture capital fund, led the investment with Shift Capital joining the round. With the capital injection, the startup aims to escalate its operations and develop new products and technologies.

Paketá offers an array of solutions for payroll loans through its digital platform. “Paketá is escalating fast. Last year, we grew 627%, and this year, we finished the first semester with 270% growth. We intend to accelerate our fronts and bring new products and services to our B2B2C model”, says Paketá’s CEO, Fabian Valverde. “We plan to disrupt the sector with end-to-end technology and invest in talents to maintain sustainable growth. This round brings us the confidence that we are on the right track.”

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Founded by Valverde and Rafael Queiroz in 2018, the company develops solutions to help human resources teams manage payroll loans. And, also gives access to employees to cheaper and easier to pay credit. Payroll loans are very representative in the Brazilian credit market and directly connected to economic growth.

Besides its digital platform for payroll loans, the startup also offers its technology as a white-label solution for other companies interested in offer credit for its employees as a benefit. “Our model gives access to payroll loans for companies of all sizes. In some moments, using our brand Paketá and others as a white-label solution for companies and banks”, explains Paketá’s CSO, Rafael Queiroz.

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Philippe Schlumpf, head of Kinea Ventures, believes the investment can open new opportunities for the group to explore. “The private payroll loans market is still underdeveloped in Brazil when compared to other forms of credit, especially due to its operation difficulty”, explains Schlumpf. Kinea Ventures is a venture capital fund from Itaú Unibanco, one of the biggest banks in Brazil.

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