# alt.bank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/alt-bank

- Industry: Financial Services
- Headquarters: Sao Paulo, Brazil
- Website: www.altbank.com.br/
- Total disclosed funding: $5.5M
- Latest round: Series A (May 4, 2021)
- Investors on record: 2

## About

alt.bank is a Brazilian financial technology company specializing in AI-driven credit solutions that enhance lending capabilities and optimize credit decisions for both individual consumers and businesses.Established in 2017 and headquartered in Sao Paulo, Brazil, alt.bank focuses on delivering innovative financial products in the Brazilian market. The company is led by CEO Brad Liebmann, who has an extensive background in finance and technology. In May 2021, alt.bank raised USD 5.5 mn in a Series A funding round led by Union Square Ventures, with participation from Repeat VC.alt.bank offers a suite of AI-driven financial products, including a credit card and a mobile app designed specifically for the Brazilian market. The company's Continuous Learning System minimizes fraud rates to under 0.01% and improves customer acquisition profitability while enhancing collection rates. These solutions cater to individual consumers and businesses engaged in B2B transactions, aiming to turn unprofitable lending portfolios into profitable ventures with unique features that set the alt.bank credit card apart from competitors.alt.bank generates revenue primarily through its credit card services, particularly the novücard, which targets consumers and businesses in need of optimized credit solutions. The revenue model is based on transaction fees from card usage, complemented by potential subscription services for enhanced features. Businesses leveraging alt.bank's proprietary marketing optimization tool benefit from tailored pricing structures aligned with customer risk bands, maximizing their returns.Following its latest funding round in May 2021, alt.bank plans to leverage the raised USD 5.5 mn to further develop innovative financial products and enhance its technological infrastructure. The company is focusing on launching new features for its mobile app that are expected to roll out by late 2022, while also exploring expansion into other Latin American markets, including Argentina and Colombia, by 2023.

## Funding rounds

- Series A, May 4, 2021, $5.5M — Union Square Ventures, Repeat VC

## Investors

- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series A
- Repeat VC (https://capitalatlas.ai/funds/repeat-vc) — Series A