With a thousand startups in its portfolio, Brazilian VC firm Bossanova launches a digital bank for entrepreneurs

The venture capital company plans to handle BRL 1 billion in the first year and bets on the investback feature to popularize the digital bank

Bossanova Investimentos BossaBank digital bank
Photo: Bossanova/Facebook
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With a portfolio of a thousand startups, the Brazilian venture capital company Bossanova Investimentos decided to expand and launched its own digital bank, called BossaBank, to expand the offer of products aimed at entrepreneurs. The white label digital bank uses the infrastructure of Modal bank, through a BaaS (Banking as a Service) platform that offers banking, insurance, investment, and credit customized solutions, among others.

BossaBank was inspired by the Silicon Valley Bank model, a reference for US startups: through its platform, individuals and companies can open an account for free and make bank transfers, PIX, payments and have access to all the financial services of a traditional bank, but with a prepaid credit card. For businesses, it will soon also be possible to anticipate receivables.

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In addition, BossaBank will feature investback, a kind of cashback in which 1% of the fee amounts inherent to the banking operations is reversed in resources for investment in startups. Bossanova expects that its neobank handle BRL 1 billion in the first year and that more than 850 startups can benefit from it.

“We want to help both those who want to invest and startups that are looking for funding. That’s why BossaBank has startup DNA, where a person can open an account in a secure, fast, and agile way, while positively impacting the ecosystem,” defined João Kepler, CEO of Bossanova.

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Another differential will be the possibility for the financial institution to connect with solutions developed by fintechs that integrate Bossanova’s portfolio. “At the same time that we can expand the offer of financial products for Bank’s customers, we can be a laboratory of initiatives and solutions for the national market of startups,” said Kepler.

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