RecargaPay Revenue and Competitors

RecargaPay is the leading mobile payments fintech in Brazil that has reached more than 3,5 millions active users per month, annualized. The company offers several mobile services completely free of charge. With the mission of democratizing mobile payments in the country, it offers payment of bills and “boletos” in general, mobile phone top ups for all operators, transport card recharges in several cities, gift cards for online stores, fast money transfer between users (via QR Code, phone or email), purchase of Zona Azul Digital cards, prepaid card and others. All this with an exclusive strategy of offering cashback and not charging the traditional extra fees, besides not requiring a bank account. To take advantage of all services, the user can choose the payment method (credit card, debit card, bank transfer, “boleto” or deposit), which allows both the banked and the unbanked to enjoy the benefits of mobile payments. Founded in 2010 by Rodrigo Teijeiro (CEO), Alvaro Teijeiro (CTO) and Gustavo Victorica (COO), RecargaPay raised, in its two rounds of investment, US$ 60 million in venture capital from a group of investors led by DN Capital, FJ Labs and over 100 investors such as AngelList, FundersClub, IFC, IDC, ATW and Venture City. “We're committed to helping anyone, banked or unbanked, transact seamlessly with their smartphone, regardless of income levels or credit score. Everyone should be able to pay their bills, recharge a prepaid phone, a transport card, gift card, send money to a friend anytime and anywhere, with ease and with no additional costs” says Rodrigo Teijeiro, CEO of RecargaPay. RecargaPay currently has almost 300 employees based mainly in Sao Paulo and Rio de Janeiro, with additional offices in Buenos Aires and Miami. The company has built a world class payment, wallet and anti-fraud technology platform tailored for the opportunities and complexities of the Brazilian market.