Z1, a fintech aimed at teenagers, has just received authorisation from the Central Bank (BC) to operate as a payment institution (IP) in the form of an electronic money issuer, i.e. it allows the management of prepaid payment accounts.
According to the order published in Tuesday's (4) edition of the Official Gazette of the Union, Z1 IP is born with a share capital of R$ 122.86 million, and has as controllers two of the founding partners of the fintech, João Pedro Thompson and Thiago Achatz.
With the BC's endorsement, Z1 becomes the first digital bank focused on generation Z to have its IP licence regulated. "It's a stamp of credibility for the market in which we operate, and it also shows the maturity and growth of the company," João Pedro Thompson, co-founder and CEO of Z1, tells Finsiders.
In operation since January 2021, Z1 offers digital account with no monthly fee, prepaid card with Mastercard flag credit function, transfers via Pix, and gift cards and mobile top-up.
According to João Pedro, in June 2022, the fintech reached the necessary volume - 300 million reais traded in the last 12 months - to operate as a regulated IP. Thus, it submitted an application to the Central Bank in September of that year.
Three months ago, the fintech raised R$54 million, in a financing led by the Homebrew fund - which had already captained the fintech's seed round in 2021. That year, the company received R$69 million, between seed capital and a Series A round.
In announcing the latest contribution, Z1 said it intends to broaden its target audience. That is, in addition to serving teenagers, the startup also targets young people who are in transition to adulthood, from the age of 18. Not surprisingly, the main product under consideration for this age group is a credit solution.
Z1, a fintech aimed at teenagers, has just received authorisation from the Central Bank (BC) to operate as a payment institution (IP) in the form of an electronic money issuer, i.e. it allows the management of prepaid payment accounts.
According to the order published in Tuesday's (4) edition of the Official Gazette of the Union, Z1 IP is born with a share capital of R$ 122.86 million, and has as controllers two of the founding partners of the fintech, João Pedro Thompson and Thiago Achatz.
With the BC's endorsement, Z1 becomes the first digital bank focused on generation Z to have its IP licence regulated. "It's a stamp of credibility for the market in which we operate, and it also shows the maturity and growth of the company," João Pedro Thompson, co-founder and CEO of Z1, tells Finsiders.
In operation since January 2021, Z1 offers digital account with no monthly fee, prepaid card with Mastercard flag credit function, transfers via Pix, and gift cards and mobile top-up.
According to João Pedro, in June 2022, the fintech reached the necessary volume - 300 million reais traded in the last 12 months - to operate as a regulated IP. Thus, it submitted an application to the Central Bank in September of that year.
Three months ago, the fintech raised R$54 million, in a financing led by the Homebrew fund - which had already captained the fintech's seed round in 2021. That year, the company received R$69 million, between seed capital and a Series A round.
In announcing the latest contribution, Z1 said it intends to broaden its target audience. That is, in addition to serving teenagers, the startup also targets young people who are in transition to adulthood, from the age of 18. Not surprisingly, the main product under consideration for this age group is a credit solution.
Z1, a fintech aimed at teenagers, has just received authorisation from the Central Bank (BC) to operate as a payment institution (IP) in the form of an electronic money issuer, i.e. it allows the management of prepaid payment accounts.
According to the order published in Tuesday's (4) edition of the Official Gazette of the Union, Z1 IP is born with a share capital of R$ 122.86 million, and has as controllers two of the founding partners of the fintech, João Pedro Thompson and Thiago Achatz.
With the BC's endorsement, Z1 becomes the first digital bank focused on generation Z to have its IP licence regulated. "It's a stamp of credibility for the market in which we operate, and it also shows the maturity and growth of the company," João Pedro Thompson, co-founder and CEO of Z1, tells Finsiders.
In operation since January 2021, Z1 offers digital account with no monthly fee, prepaid card with Mastercard flag credit function, transfers via Pix, and gift cards and mobile top-up.
According to João Pedro, in June 2022, the fintech reached the necessary volume - 300 million reais traded in the last 12 months - to operate as a regulated IP. Thus, it submitted an application to the Central Bank in September of that year.
Three months ago, the fintech raised R$54 million, in a financing led by the Homebrew fund - which had already captained the fintech's seed round in 2021. That year, the company received R$69 million, between seed capital and a Series A round.
In announcing the latest contribution, Z1 said it intends to broaden its target audience. That is, in addition to serving teenagers, the startup also targets young people who are in transition to adulthood, from the age of 18. Not surprisingly, the main product under consideration for this age group is a credit solution.
🤩 Forma parte del único programa de entrenamiento en Neobanking de Latam. Más información aquí
