Provides a salary-advance service for workers in Brazil, enabling them to access a portion of their earned wages within two minutes through a mobile app. The platform streamlines credit analysis, offers transparent fee structures starting at R$ 9,90, and allows repayment upon salary receipt, addressing cash flow challenges for employees.
Funding
$17.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+2Founders
Product
Problem
Many Brazilian workers face challenges managing their cash flow due to infrequent salary payments and limited access to affordable credit options. This can lead to reliance on high-interest debt or difficulty covering unexpected expenses between paychecks.
Solution
Facio offers a mobile platform that provides Brazilian workers with on-demand access to their earned wages. Through a streamlined credit analysis process, users can request an advance on their salary and receive the funds in their account within minutes. The platform features a transparent fee structure and allows for repayment upon the user's next salary receipt, providing a flexible and accessible solution to bridge short-term financial gaps. By offering a convenient and cost-effective alternative to traditional loans or overdrafts, Facio aims to improve the financial well-being of its users.
Target Audience
Facio primarily targets employed individuals in Brazil who need short-term access to funds between paychecks and are looking for an alternative to high-interest loans or overdraft fees.
Features
- Mobile application for requesting and managing salary advances
- Instant credit analysis based on user-provided data
- Funds disbursement within two minutes of approval
- Transparent fee structure with rates starting at R$ 9,90
- Repayment automatically deducted from the user's next salary
- Secure platform with SSL encryption and data privacy measures
- Customer support via Whatsapp
- Available on both Google Play Store and Apple App Store