Vivo Money
Digital personal loans for Brazilian telecommunication customers.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | BRL250m | Debt | |
| Total Funding | 000k | ||
Vivo Money is a digital personal credit service launched by Telefônica Brasil, operating under the well-known "Vivo" brand. Established as part of Vivo's strategy to become a comprehensive digital services hub beyond telecommunications, the platform was commercially launched in October 2020 after a pilot program that ran from August 2019 to April 2020. The service is now part of the broader "Vivo Pay" financial solutions platform, which also includes insurance and other financial products.
The company provides a fully digital and streamlined process for personal loans, targeting Vivo's post-paid and contract mobile customers in Brazil. It offers unsecured loans with amounts that have expanded over time, initially up to R$30,000 and later increasing to R$50,000, with repayment terms between six and 40 months. The business model is centered on leveraging its existing, large telecommunications customer base to offer accessible financial services, capitalizing on the brand's credibility and data for credit analysis. Revenue is generated from interest on the loans provided.
Vivo Money operates as a banking correspondent for financial institutions like QI SCD, which handles the actual credit concession. This partnership model allows Vivo to facilitate the loans without being a formal financial institution itself, although its parent company later received a direct credit company (SCD) license from Brazil's Central Bank to expand its fintech operations. The platform's key features include competitive interest rates, a quick online application process without complex bureaucracy, and the ability for funds to be disbursed within two business days via PIX or bank deposit. This initiative is a strategic move to address the needs of many underbanked Brazilians within its customer base and to create new revenue streams.
Keywords: personal loans, digital credit, fintech Brazil, telecommunications finance, consumer lending, online loans, financial services, mobile banking, unsecured lending, Telefônica Brasil, credit platform, digital banking, customer financing, PIX payment, loan service