Brazilian microcredit fintech Jeitto acquired private payroll loan platform Pilla for an undisclosed amount.
Jeitto offers microloans to low and middle-income individuals, leveraging AI and over 800 variables to determine a borrower’s ability to repay.
Pilla provides private payroll loans, salary advances, and debt renegotiation services for employees at large corporations.
Jeitto will integrate Pilla’s services into its platform to strengthen its position in the payroll lending market, aiming to capitalize on the federal government’s upcoming eConsignado platform.
“Pilla has grown a lot but has been conservative, and Jeitto’s entry is precisely to open up the appetite for risk,” said Alex Franco, CTO of Jeitto.
Founded in 2014, Jeitto serves over 9M customers and reported $130M in revenue for 2024.
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