Provides a multi-currency digital banking platform for Brazilians to hold, convert, and spend currencies like GBP, EUR, and USD through a mobile app. Eliminates high conversion fees and enables real-time currency exchange, allowing users to make international purchases and withdrawals with a Mastercard-powered debit card.
Funding
$130K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Brazilians face high conversion fees and complexities when trying to hold, convert, and spend currencies like GBP, EUR, and USD, especially for international travel and online purchases. Traditional banking solutions often lack transparency and convenience in managing multiple currencies.
Solution
Broad provides a multi-currency digital banking platform accessible via a mobile app, enabling Brazilians to hold, convert, and spend in currencies such as GBP, EUR, and USD. The platform eliminates high conversion fees by offering real-time currency exchange at commercial rates, plus a transparent IOF of 1.1% and a spread of 2%. Users can make international purchases and withdrawals using a Mastercard debit card, manage their finances digitally, and split bills with friends. Broad also facilitates transfers to Euro and Pound accounts at other institutions and instant transactions between Broad accounts.
Target Audience
The primary target audience is Brazilians who travel internationally, shop online from foreign retailers, or live abroad and need a convenient way to manage and spend multiple currencies.
Features
- Multi-currency accounts supporting GBP, EUR, and USD
- Real-time currency exchange with transparent fees (1.1% IOF and 2% spread)
- Mastercard debit card accepted in over 200 countries and territories
- Mobile app for managing finances and tracking transactions
- Bill-splitting feature for shared expenses
- Transfers to Euro and Pound accounts at other institutions
- Instant transactions between Broad accounts
- Customer support in Portuguese