# 01 Payments and Business

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/01-payments-and-business

- Industry: Software
- Headquarters: Sao Paulo, Brazil
- Website: www.z1.app
- Total disclosed funding: $13M
- Latest round: Series A (Nov 22, 2021)
- Investors on record: 11

## About

Based in Brazil, 01 Payments and Business, Ltd. specializes in providing digital banking solutions tailored for Gen Z users, offering tools to manage finances effectively without incurring debt.01 Payments and Business, Ltd. was founded in 2020 in Sao Paulo, Brazil, focusing on delivering innovative digital banking services. The company has successfully completed 6 deals, with the most recent funding round occurring on April 10, 2023. The founders, João Thompson, Mateus Craveiro, Sophie Secaf, and Thiago Achatz, have leveraged their diverse expertise in the financial technology sector to develop the company's offerings. The company has raised a total of BRL 54 million, with the latest funding round co-led by Homebrew, Kindred Ventures, and Parade Ventures, alongside other notable investors.Z1, now integrated with NG.CASH, offers a comprehensive suite of digital banking services primarily targeting Gen Z users in Latin America. The core product is a digital account that allows users to manage their finances without the risk of debt. Key functionalities include a reloadable prepaid card, real-time payments, group savings features, and a credit card designed to foster responsible spending habits. Users can set their own spending limits based on reserved funds, ensuring they never exceed their budget. The services cater to individual consumers looking for financial autonomy, privacy, and flexibility in their financial transactions, primarily in urban areas across various Latin American countries.Z1 generates revenue primarily through transaction fees associated with its digital banking services. Customers can utilize the reloadable prepaid card for purchases, which incurs fees for certain transactions including ATM withdrawals and currency conversions. The company operates a direct-to-consumer business model, allowing users to access services through a mobile app. The Z1 Credit Card promotes responsible spending by enabling users to control their spending limits based on reserved funds, thereby mitigating consumer risk and enhancing engagement within the app.In April 2023, 01 Payments and Business, Ltd. raised BRL 54 million in venture funding to support the development of new products and functionalities. The company aims to expand its services into new geographic regions, particularly focusing on areas with a significant youth demographic in Latin America. The recent funding will facilitate these initiatives, enabling the launch of additional features designed to enhance user experience and financial management capabilities.

## Funding rounds

- Series A, Nov 22, 2021, $9.9M — Kaszek Ventures, Homebrew, Clocktower Technology Ventures, Gaingels, Maya Capital, Mantis, The Chainsmokers
- Seed, May 12, 2021, $2.7M — Homebrew, Goodwater Capital, Clocktower Technology Ventures, Gaingels, Soma Capital, Rebel Fund, Mantis
- Seed, Mar 9, 2021, $0.1M — Y Combinator
- Seed, Mar 1, 2020, $0.7M — Maya Capital

## Investors

- Maya Capital — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Homebrew (https://capitalatlas.ai/funds/homebrew) — Seed, Series A
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Seed
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed, Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Seed, Series A
- Soma Capital — Seed
- Rebel Fund (https://capitalatlas.ai/funds/rebel-fund) — Seed
- Mantis (https://capitalatlas.ai/funds/mantis) — Seed, Series A
- Kaszek Ventures (https://capitalatlas.ai/funds/kaszek-ventures) — Series A
- The Chainsmokers — Series A