Brazilian payroll-deductible loan fintech Ali raises $25m in Series A round
Brazilian fintech Ali, which works to reduce the debt of the country’s workers and boost their financial wellbeing, has raised $25 million in a Series A round led by BTG Pactual.
Ali secures $25m Series A
According to LatamList, the firm intends to use the capital injection to build out its product, commercial, technology and human resource teams, with the aim to have 1 million users on its Economizômetro app in 2023.
Ali offers financial health solutions for employees, with a wider aim to reduce the debt held by Brazilians by offering them “fair credit”.
The firm’s Economizômetro application offers payroll-deductible loans to company employees, analysing a user’s debt to tailor a more affordable payment plan, reducing an individual’s debt by cutting down the interest.
Ali CEO Bruno Souza Reis explains: “This is the market Ali is targeting with its ‘Economizômetro’ application, which offers the automated exchange of more expensive debts with a direct discount on the payroll, helping people save on interest expenses for other lines of credit well above the average.”
Founded in 2018, Ali claims to have negotiated more than $37 million in payroll-deductible loans and partnered with more than 200 companies, including Deloitte and EY, helping more than 250,000 employees.
