Cora offers a digital account solution for small and medium businesses, providing features such as free PIX and TED transfers, unlimited boleto issuance, and a user-friendly app for account management. This platform eliminates traditional banking fees and bureaucratic processes, enabling businesses to manage their finances efficiently and focus on growth.
Funding
$151.2M 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
Small and medium-sized businesses (SMBs) face challenges with traditional banking systems, including high fees, bureaucratic processes, and a lack of user-friendly digital tools. These complexities can hinder efficient financial management and impede business growth.
Solution
Cora offers a digital banking solution designed specifically for SMBs, providing a streamlined and cost-effective alternative to traditional banks. The platform features free PIX and TED transfers, unlimited boleto issuance, and an intuitive mobile app for managing accounts. By eliminating maintenance fees and simplifying financial processes, Cora enables businesses to efficiently handle their finances and concentrate on expansion.
Target Audience
Cora primarily targets micro-enterprises (ME), small businesses (EPP), limited liability companies (Ltda), corporations (S/A) and individual micro-entrepreneurs (MEI) in Brazil.
Features
- Free digital business checking accounts with no opening or maintenance fees
- Unlimited free PIX and TED transfers
- Free issuance of "boletos" (Brazilian payment slips), with a fee of R$1.90 applied after the first 100 compensations
- Debit and credit cards for business expenses
- Automated tools for managing and tracking payments
- Account access management with customizable permission levels for employees
- Integration with ERP systems via API
- Virtual assistant and human support channels