Celcoin

What Celcoin does

Celcoin is a Brazilian open finance infrastructure provider (infratech) that licenses its regulated banking, payments, credit, and Open Finance stack to fintechs, digital banks, enterprises, sub-acquirers, and ERP integrators. Founded in 2015 and headquartered in Barueri (São Paulo), the company operates the modular cel_bricks platform with three product pillars — cel_banking (BaaS, Core Banking, white-label Visa cards, Banco Liquidante settlement, data sharing, Open Insurance, regulatory reporting), cel_payments (Pix, gateway, ITP/JSR, bill payment, vehicle debts, top-ups, cash withdrawal), and cel_credit (CCB/CPR/Nota Comercial issuance, Consignado, escrow accounts, Core Credit, portfolio and collection management) — plus the mybenk endofinance solution and a Plataforma de Antecipações. The architecture is cloud-native, API-first, and delivered as SaaS, with a developer portal at developers.celcoin.com.br supporting SDKs, sandbox environments, webhooks, and MCP for AI-assisted development.

Celcoin holds multiple Banco Central authorizations (IP, SCD, SCM, ITP, Bin Sponsorship) and serves 6,000+ clients including BTG Pactual, Banco Pan, Agibank, Neon, and PagSeguro. Reported operating scale includes 250M+ monthly Pix transactions, R$30B+ monthly transaction volume, and a Pix ANS rating of Nota A. Revenue is generated through a mix of recurring BaaS licensing/subscription fees, transaction-based gateway and acquiring fees (e.g., 3.49% + R$0.69 per card transaction), credit lifecycle fees, and float income on escrow balances (CDI-based). Distribution combines a self-serve developer-led API channel with enterprise direct sales for BaaS, credit, and white-label engagements.

Since 2022 Celcoin has executed seven acquisitions — Galax Pay (2022), Flow Finance (2022), Finansystech (2023), Regulatório Mais (2024), CobranSaaS (2024), Vulkan Labs (2025), and Via Capital SCD (2026, with Central Bank approval) — alongside a US$125 million Series C led by Summit Partners in November 2024. The acquisition program is concentrated in the credit vertical (four of seven deals) and increasingly oriented toward AI risk decisioning, regulatory automation, and direct credit licensing, suggesting a deliberate buildout of a full-stack credit infrastructure business layered on top of the existing payments and banking franchises.

Name

Celcoin

Legal name

Celcoin Instituição de Pagamento S.A.

Website

https://celcoin.com.br

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

Celcoin is a Brazilian financial infrastructure provider offering modular BaaS, payments, and credit APIs to 6,000+ fintechs, digital banks, and enterprises under multiple Banco Central licenses.

Ownership category

akta.pro rank

Product category

Embedded Finance Infrastructure

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211), Credit Card Issuing (52221)

SIC

Finance Services (6199), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK), Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL), Banking-as-a-Service (BaaS) Neobanks / Neobank Enablers (FSABAFAL)

Keywords

• Embedded finance infrastructure
• Banking as a service
• Payment processing solutions
• Open finance platform
• Credit lifecycle management

Headquarters

HQ city

Barueri

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. BaaS/Embedded Finance Licensing: Subscription or licensing fees for access to banking, payments, and credit infrastructure. Companies pay for regulatory licenses (IP, SCD, SCM) integration without building own infrastructure.
2. Payment Processing and Transaction Fees: Gateway and acquiring fees on payment transactions. Standard rate of 3.49% + R$0.69 per transaction for card payments. Rebate model on boleto payments (pay only for paid tickets).
3. Credit Operations: Revenue from credit lifecycle including CCB issuance, loan facilitation, portfolio management fees, and anticipation of receivables operations.
4. Escrow and Treasury Services: Float revenue from escrow account balances (CDI-based returns), transaction fees, and account management services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Celcoin provides modular embedded finance infrastructure (BaaS) that enables companies to launch and operate banking, payments, credit, and Open Finance services through APIs, under their own brand and without building regulatory licenses from scratch. The platform combines white-label banking (Core Banking, BaaS, card issuance), payment processing (Pix, gateway, ITP, bill pay, vehicle debts, top-ups), credit infrastructure (CCB, consignado, escrow, core credit, portfolio management), and regulatory compliance automation under Banco Central IP, SCD, and SCM licenses.

Product overview

Celcoin operates as an open finance infrastructure company (infratech) offering a modular platform architecture built around cel_bricks (the core embedded finance layer), supplemented by three product pillars: cel_banking (BaaS, Core Banking, white-label cards, data sharing, Open Insurance, regulatory compliance), cel_payments (Pix, payment gateway, ITP, bill payment, vehicle debts, top-ups, cash withdrawals), and cel_credit (CCB, Consignado, Escrow accounts, Core Credit, portfolio management, Nota Comercial, anticipation platform). Additional offerings include mybenk (white-label endofinance for stakeholder ecosystems), a full Open Finance suite (Pix Automático, Pix Inteligente, Pix Biometria, Pix Recorrente), and a receivables anticipation platform. All solutions are available via APIs and SDKs, backed by Central Bank licenses (IP, SCD, SCM, ITP, Bin Sponsorship).

Differentiator

Problem solved

Functional benefit

Brands

• cel_bricks: Embedded Finance solution providing modular infrastructure for banking, credit, and payments services.
• cel_banking
• cel_payments
• cel_credit
• mybenk

Products and services

• cel_bricks Embedded Finance Platform

Quantifiable outcome

• 400+ million monthly transactions processed
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

AI capability7 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Via Capital SCDcoreOthers · 24 February 2026Celcoin received regulatory approval from Brazil's Central Bank to acquire Via Capital SCD, a licensed direct credit company. Capital increased from $300K to $2.3M. Marks Celcoin's seventh acquisition since 2022.
• Vulkan LabscoreOthers · 18 November 2025Acquired Vulkan Labs, a startup specializing in AI-driven risk decision engines. Expected to contribute 100%+ growth in Celcoin's credit business. Integrating no-code decision platform for data orchestration and real-time analytics.
• CobranSaaSminorOthers · 19 November 2024Acquired CobranSaaS, a provider of loan and debt collection management solutions, as Celcoin's fifth acquisition since 2022 to enhance credit and collection solutions.
• Galax PayminorOthers · 8 April 2022Galax Pay was acquired by Celcoin as part of its expansion into banking and financial services infrastructure, preparing for regulated payment institution operations and open banking.
• Flow FinancecoreOthers · 23 February 2022Acquired Flow Finance, a techfin based in Florianópolis, marking Celcoin's second M&A in less than a month. Integration of Flow's credit infrastructure technology enhanced offerings for regulated institutions seeking credit modernization.
• NucleacoreTechnology or IntegrationCelcoin participates in SLC arrangement through Nuclea, acting as settlement bank for sub-acquirers requiring Banco Central compliance for payment liquidation.
• VisacoreTechnology or IntegrationCelcoin is a 100% enabled Visa card issuer offering pre-paid and post-paid cards under Visa brand through white-label and BaaS solutions.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Pomelo: Latin American BaaS and card-issuing platform offering embedded financial infrastructure across multiple countries. Direct competitor to Celcoin in providing card issuance, accounts, and lending infrastructure for fintechs and enterprises.
• Belvo: Latin American Open Finance API platform enabling financial data aggregation and payment initiation across Brazil, Mexico, and Colombia. Directly competes with Celcoin's Open Finance and ITP (Iniciador de Transação de Pagamento) offerings.
• Dock: Brazilian payments and banking infrastructure provider offering card issuing, acquiring, and account services through APIs. Directly competes with Celcoin in the Brazilian BaaS and card-as-a-service market.
• Bankly: Brazilian embedded banking infrastructure platform enabling businesses to offer digital accounts, payments, and cards. Direct competitor to Celcoin in providing BaaS solutions to fintechs and corporates in Brazil.
• QI Tech: Brazilian fintech infrastructure company providing embedded finance solutions including credit, payments, and banking-as-a-service. Competes directly with Celcoin's cel_credit and cel_banking modules in the Brazilian market.

Emerging players

• Pismo: Brazilian-born cloud-native payment processing platform acquired by Visa, offering banking and payment infrastructure. Adjacent competitor in payment orchestration and core banking, now backed by Visa's global reach.
• Zoop: Brazilian payment infrastructure platform providing acquiring-as-a-service and financial APIs for marketplaces and fintechs. Overlaps with Celcoin's payment orchestration and gateway offerings in the Brazilian ecosystem.
• CloudWalk: Brazilian payment processor and financial infrastructure provider operating the InfinitePay brand. Adjacent competitor in Brazilian payments and acquiring services with some BaaS capabilities for SMBs.

Regional players

• Cobre: Colombian BaaS platform offering embedded financial services for Latin American companies. Regional competitor operating in similar product categories to Celcoin but focused on Colombian and broader Andean markets.

Broad incumbents

• PagSeguro: One of Brazil's largest payment processors and acquirers offering accounts, cards, and POS solutions. While itself a Celcoin customer, PagSeguro represents the broader incumbent payment ecosystem that competes in adjacent segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/celcoinbr

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Celcoin