PicPay announces this Tuesday, the 7th, the acquisition of 100% of BX Blue, a payroll loan marketplace for civil servants, retirees and INSS pensioners.
The acquisition marks the beginning of PicPay’s strategy in payroll loans, a market of over BRL 500 billion, diversifies the credit portfolio with more low-risk collateralized products and makes the company’s financial services offer even more robust. It is worth remembering that PicPay already offers personal credit, cards, FGTS anticipation, loans between people and between companies (P2P Lending), has income, insurance, among other products for more than 30 million monthly active customers.
Danilo Caffaro, Vice President of Financial Services for Individuals at PicPay, says:
“BX Blue has technology, intelligence and partners in an extremely secure digital platform with the best experience. Added to our ecosystem, the strength of our brand and the customer base, it results in enormous potential for us to scale payroll loans.”
With the deal, PicPay now fully absorbs the operation of BX Blue, which has 1 million registered customers and has processed more than R$ 2.4 billion in contracts since its foundation.
For now, nothing changes for customers. The two companies continue to function normally and independently. But soon, the marketplace will also be shipped on PicPay and the entire eligible base will be able to hire payroll directly through the app.
In the BX Blue marketplace, federal civil servants, retirees and INSS pensioners can take out the loan 100% digitally with convenience, transparency and security. Banco do Brasil, BRB, Daycoval, Banrisul and Bradesco are among the banks integrated into the fintech marketplace.
Gustavo Gorenstein, co-founder of BX Blue, tells:
“By joining forces with PicPay, our value delivery increases exponentially. Both for partner banks, who will be able to access the giant PicPay base, and for users, who continue to have the best loan experience, but now added to a wide range of services to carry out and resolve their entire financial life.”
The company was founded six years ago in Brasilia by Gustavo Gorenstein, Fabrício Buzeto and Roberto Braga, who saw the difficulty that family members and close people had when researching and contracting a payroll loan.
As seal of approval for the innovation potential for the segment, the company was accelerated by the Y Combinator, in Silicon Valley. It was also recognized in 2019 in the ranking 100 Startups to Watch and is one of the winners of the Idei@ABBC Award, organized by the Brazilian Association of Banks (ABBC).
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