Alter
Alter - Conta digital gratuita - bitcoin, exchange, cartão Visa, Criptoback.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
BRL25.9m Valuation: BRL25.9m | Acquisition | ||
| Total Funding | 000k | ||
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Alter, founded in 2018 by Vinicius Frias, established itself in the Brazilian fintech landscape by offering an integrated solution for managing both traditional currency (Brazilian Reais) and cryptocurrencies. The company, headquartered in Rio de Janeiro, targeted the growing demand for accessible crypto-finance tools in Brazil. It provided users with a single digital account and a VISA-backed debit card, enabling them to use their crypto assets for everyday transactions, bill payments, and money transfers. This service was delivered through an app-based platform available on both iOS and Android devices, simplifying the process of holding and spending digital currencies.
The core of Alter's business model was to bridge the gap between the traditional financial system and the emerging crypto economy. By combining a digital wallet with a widely accepted payment card, the company catered to individuals looking for practical applications for their cryptocurrency holdings. Alter operated in a market segment that was seeing increased regulatory clarity and institutional adoption. For instance, major Brazilian banks like Itaú Unibanco have started offering crypto trading services, signaling a broader acceptance and interest in digital assets within the country's financial sector.
In a significant development for the company, Alter was acquired by Capitual, a digital bank that also focuses on crypto-related financial services. This strategic acquisition, which occurred in July 2021 for a reported BRL 25.9 million, was aimed at consolidating the strengths of both platforms. The integration allowed Capitual to absorb Alter's user base and technology, enhancing its own offerings and solidifying its position in the competitive Brazilian fintech market. Following the acquisition, Vinicius Frias transitioned from his role as CEO of Alter.
Keywords: crypto account, digital wallet, VISA debit card, cryptocurrency management, Brazilian fintech, Reais and crypto, mobile banking app, crypto-to-fiat, bill payments, money transfer, Vinicius Frias, Capitual acquisition, financial technology, digital assets, crypto finance, blockchain banking, South American fintech, Rio de Janeiro startup, app-based finance, integrated financial services