Business

Onze, a Brazilian private pension fintech, raises a BRL 53 million Series A

Prevtech created a corporate pension and financial health solution for employees and wants to "make the private pension segment uncomplicated"

ONZE Brazilian fintech
Rodrigo Neves, Onze's COO, and Antonio Rocha, Onze's CEO. Photo: Courtesy
Ler em português

Founded just six months ago, Onze, a Brazilian private pension and financial health fintech, has just announced a BRL 53 million Series A round led by Ribbit, which has in its portfolio other Brazilian financial market startups, such as Nubank, Cora and Warren.

With the investment, Onze intends to expand its client portfolio from the current 15 companies to 100 companies by the end of the year; for this, it will invest in hiring new talents, in partnerships and in developing improvements in the solutions it offers.

READ ALSO: A race to be a financial institution? Not exactly. Fintechs in Brazil follow different paths to grow

Founded in the second half of 2020, Onze presents itself as the first fintech focused on private pensions in Brazil. Its core business is a corporate pension and financial health of employees solution for companies. Through the Onze platform, employees have access to periodic financial check-ups, individual advice with experts and content on finance, it is an “uncomplicated pension plan”, according to Onze.

Onze‘s founder and CEO, Antonio Rocha, is a former partner of McKinsey and brought to fintech the experience of years in the traditional financial market together with Rodrigo Neves, COO of Onze who also worked with Rocha at McKinsey. According to them, Onze’s goal is to reinvent the private pension market, currently concentrated in large Brazilian banks, with a business model that combines technology and flexibility.

READ ALSO: Mobile fraud prevention startup Incognia takes first steps in the B2B2C market in partnership with Serasa Experian

“Private pension is traditionally a complex product and it lacked technology and experience. With our solution, employees get much more transparency and autonomy to build their assets, and are actually able to take care of their financial health in the same way that they take care of physical and mental health, through teleconsultations,” explains Neves.

Get the best insights about Latin America market in your inbox