# Facio Payment Ltda

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/facio-payment-ltda

- Industry: Financial Services
- Headquarters: Sao Paulo, Brazil
- Website: www.facio.com
- Total disclosed funding: $6.5M
- Latest round: Seed (Nov 18, 2020)
- Investors on record: 3

## About

Facio Payment Ltda is a financial services company that specializes in salary anticipation, allowing employees to access their earned wages ahead of payday, thus assisting with immediate financial needs.Founded in 2019 and headquartered in Sao Paulo, Brazil, Facio Payment Ltda provides salary anticipation services to help employees access their earned income early. The company has successfully raised USD 5.00 mn in Seed funding, with the latest round occurring on November 18, 2020, led by Monashees Capital, ONE VC, and Y Combinator. Facio's founder has not been specified as having previous ventures or other notable company affiliations. There are no available details regarding subsidiaries or significant changes in business strategy.Facio Payment Ltda specializes in salary anticipation services, offering a streamlined solution for employees to access their earned wages before conventional payday. Their core product allows users to withdraw a portion of their salary, providing immediate financial relief for unforeseen expenses. This service is particularly beneficial for individuals who may face cash flow challenges and need to bridge the gap between pay periods. Facio's offerings are designed for a diverse client base, including companies that aim to provide enhanced benefits to their employees, operating primarily in Brazil's urban centers where demand for rapid access to earned income is high.Facio generates revenue through transaction fees associated with its salary anticipation services. Clients utilizing the platform pay a fixed fee to access their funds prior to the scheduled payday, with fees starting from R$ 9.90 for the transactions. This transactional structure enables Facio to maintain a steady revenue stream while offering a valuable service to employees in need, fostering long-term partnerships and repeat usage of its services.Facio Payment Ltda plans to utilize its recent Seed funding of USD 5.00 mn, raised in November 2020, to enhance its product offerings and expand into new geographic regions. The company is focusing on developing additional financial products tailored for employee financial wellness and aims to enter new urban markets in Brazil by the end of 2022. The funding will support these initiatives by improving technology infrastructure and marketing efforts to increase brand awareness.

## Funding rounds

- Seed, Nov 18, 2020, $5M — Monashees, Y Combinator, ONEVC
- Seed, Feb 19, 2020, $1.5M — Monashees, Y Combinator, ONEVC

## Investors

- Monashees (https://capitalatlas.ai/funds/monashees) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- ONEVC (https://capitalatlas.ai/funds/onevc) — Seed