Pagaleve, a Brazilian payments startup that allows shoppers to split purchases with Pix, raised $29M combining equity and a receivables fund. The round was led by OIF Ventures and Sun Hung Kai & Co., with participation from Credit Saison, Endeavor Catalyst, Salesforce Ventures, and BB Ventures. The round values Pagaleve at $180M.
Pagaleve enables shoppers to split purchases into four interest-free, biweekly Pix transfers, with merchants paying a per-transaction fee. Pagaleve focuses on everyday purchases, embedding Pix at checkout so consumers can pay over time without interest or a credit card.
Pagaleve will use the funds to scale distribution and deepen partnerships with retailers.
Pagaleve serves over 5 million consumers with approval rates above 70% and delinquency near 2%. Pagaleve’s revenue grew 6x in the last year, and the business is profitable.
PedroRead more on: Brazil Journal
