Paag
Paag is a Brazilian fintech providing integrated payment, compliance (AML/KYC), and financial management infrastructure for Brazil's regulated sports betting operators, serving ~70 of ~80 authorized sites and expanding across Latin America.
- Company typePrivate
- Founded2021
- HeadquartersBelo Horizonte, Brazil
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Paag does
Paag Tecnologia S.A is a Brazilian fintech founded in 2021 and headquartered in Belo Horizonte, Brazil, that builds integrated financial infrastructure for Brazil's regulated sports betting and iGaming operators. The company operates three core products: Payments (a Pix-based payment gateway claiming 98.9% conversion rate and 99.99% availability with multi-bank redundancy), Shield (a risk management platform providing AML/PLD protection, anti-fraud analysis, KYC with biometric verification, and COAF reporting, sold in tiered Starter, Pro, and Enterprise subscriptions), and Finance (a financial management platform with PJ accounts, batch Pix, currency exchange, virtual cards with cashback, and investments). Paag's business model combines transaction-based fees from payments processing with recurring subscription revenue from Shield and finance services, sold through direct B2B sales with dedicated account management and 24/7 human support to enterprise-tier betting operators.
In May 2026, Paag executed a significant strategic restructure: after BS2's planned full acquisition failed, the company divested its Payments division to Z.ro Global Payments in a stock-swap deal, transferring 200 million annual transactions. Following the transaction, Paag serves approximately 70 of Brazil's roughly 80 authorized betting sites through Z.ro's combined ecosystem, while retaining the Shield compliance platform and Finance business as its core going-forward operations. The company is led by CEO João Fraga and operates with 11-50 employees, holding compliance certifications under ABNT NBR ISO/IEC 27001, LGPD, and Brazilian Central Bank regulations, and positioning itself for geographic expansion across Mexico, Argentina, Chile, and Peru.
Paag firmographics
Firmographics- Name
- Paag
- Legal name
- Paag Tecnologia S.A
- Website
- https://paag.com.br
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Paag is a Brazilian fintech providing integrated payment, compliance (AML/KYC), and financial management infrastructure for Brazil's regulated sports betting operators, serving ~70 of ~80 authorized sites and expanding across Latin America.
- Ownership category
- akta.pro rank
Paag industry classification
Industry- Product category
- Payment Processing and Compliance Software
- NAICS
- Gambling Industries (7132), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Other Gambling Industries (713290)
- SIC
- Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- iCasino Payments & Fraud/Risk Services (MPAEABAM)
- akta.pro secondary industries
- Payouts & Disbursements (Withdrawals, RTP, Mass Payouts) (MPAEALAG), Cross-Border Payments & FX for Gaming (MPAEALAH)
Keywords
Where Paag is headquartered
LocationHeadquarters
- HQ city
- Belo Horizonte
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Paag business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Processing: Transaction-based revenue from processing Pix payments, card transactions, and boleto payments for betting operators. Features up to 98.9% conversion rate with 24/7 availability.
- Shield Subscriptions: Tiered subscription plans (Starter, Pro, Enterprise) for risk management, KYC, and compliance services. Provides Anti-Money Laundering protection, anti-fraud analysis, and COAF reporting.
- Financial Services: Revenue from financial services including virtual card management with cashback, investment products, currency exchange, and credit facilities for betting operators.
- Batch Pix Payments: Processing fees for bulk Pix payment operations allowing operators to pay multiple recipients simultaneously.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Shield Starter - Essential security features for starting operations |
| Subscription | Monthly | Shield Pro - Advanced features for operations with traction |
| Subscription | Multi-year contract | Shield Enterprise - Fully personalized on-demand solution |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Paag product offering
Product offeringCore offering
Paag provides a 360-degree financial solutions platform for Brazil's regulated sports betting and iGaming operators, consisting of three integrated products: Payments (a Pix-focused payment gateway with up to 98.9% conversion rate and 99.99% availability), Finance (PJ accounts, bulk Pix payments, currency exchange, virtual cards, investments, and automated reconciliation), and Shield (anti-money laundering, anti-fraud, KYC verification, and COAF reporting).
Product overview
Paag is a Brazilian fintech company offering a 360-degree financial solutions platform for the regulated betting and iGaming market. The portfolio consists of three integrated core products: Payments (gateway for Pix transactions with high conversion rates), Finance (financial management with PJ accounts, bulk payments, exchange, virtual cards, and investments), and Shield (risk management with anti-money laundering, fraud prevention, and KYC). The products work together as an end-to-end platform enabling betting operators to process payments, manage finances, and maintain regulatory compliance.
Differentiator
Problem solved
Functional benefit
Brands
- Paag Shield: Plataforma completa de gestão de riscos com Proteção a Lavagem de Dinheiro e Financiamento ao Terrorismo, Antifraude e KYC.
- Paag Finance
- Paag Payments
Products and services
- Payments
Quantifiable outcome
- 98.9% payment conversion rate
- +3 more outcomes
Companies that use Paag
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
Paag technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature5 records
Paag partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Z.ro Global Paymentsmajor (divestment/acquisition)Z.ro Global Payments acquired Paag's payments division in a stock-swap deal after BS2's planned acquisition failed. This brings 200 million annual transactions to Z.ro's ecosystem and positions them as a dominant player serving 70 of approximately 80 authorized betting sites in Brazil. Paag retains its Shield (compliance/risk management) and Finance divisions following the transaction.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Paag competitors and assessment
Company assessmentDirect peers
- Z.ro Global Payments: Acquired Paag's payments division in May 2026 in a stock-swap deal after BS2's planned acquisition failed. Now directly competes with Paag in the Brazilian regulated betting payments space while serving as a potential referral source for Paag's remaining Shield and Finance offerings.
- PagBrasil: Brazilian payment processor specializing in Pix, boleto, and card processing for international merchants and domestic businesses. Directly competes with Paag Payments in Brazilian payment gateway infrastructure serving digital businesses including betting and iGaming.
- EBANX: Major LatAm-focused payment processor serving global merchants entering Brazil, Mexico, Argentina, and other regional markets. Comparable to Paag's payments business with broader geographic coverage and similar focus on Pix and local payment methods in regulated industries.
- BS2: Brazilian fintech and banking-as-a-service provider that had a planned acquisition of Paag collapse due to contractual disagreements. Operates in adjacent payments and financial services infrastructure serving regulated industries in Brazil.
- Pismo: Brazilian payment processing platform acquired by Visa, providing core banking and payment infrastructure APIs. Comparable to Paag's technology layer with broader banking infrastructure focus and stronger institutional backing.
- Dock: Brazilian fintech providing payment processing, banking-as-a-service, and card issuance technology. Directly comparable to Paag's payment gateway and finance platform offerings for businesses operating in Brazil.
- Cobre (formerly Banco Cobre): Colombian-LatAm B2B payment platform serving businesses across the region with treasury and payment operations. Comparable to Paag Finance's treasury and cash management capabilities with multi-country LatAm reach.
- Sumsub: Global KYC/AML and identity verification platform widely used in iGaming and betting verticals. Directly comparable to Paag Shield's compliance offering, with broader geographic coverage and established global gaming industry presence.
Broad incumbents
- Braspag: Brazilian payment gateway owned by Cielo, one of the largest acquirers in Latin America. Provides payment processing infrastructure with broader merchant base than Paag but less specialization in the regulated betting vertical.
Regional players
- RecargaPay: Brazilian Pix-focused consumer fintech and B2B payment platform. Comparable Pix-native infrastructure and Brazilian market focus, though primarily consumer-facing rather than focused on regulated betting operators.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Paag financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paag leadership team
Management profileNumber of profiles
Profiles2 records
Paag funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paag M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paag
What does Paag do?
Paag provides a 360-degree financial solutions platform for Brazil's regulated sports betting and iGaming operators, consisting of three integrated products: Payments (a Pix-focused payment gateway with up to 98.9% conversion rate and 99.99% availability), Finance (PJ accounts, bulk Pix payments, currency exchange, virtual cards, investments, and automated reconciliation), and Shield (anti-money laundering, anti-fraud, KYC verification, and COAF reporting).
Is Paag a public or private company?
Paag is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Paag founded?
Paag was founded in 2021. It employs 51 to 100 people.
Where is Paag based?
Paag is headquartered in Belo Horizonte, Brazil, in the Latin America region.
How does Paag make money?
Four revenue lines are on record. Payment Processing is the primary driver. The others are shield Subscriptions, financial Services and batch Pix Payments.
Who are Paag's main competitors?
Direct peers on record are Z.ro Global Payments, PagBrasil, EBANX, BS2, Pismo, Dock, Cobre (formerly Banco Cobre) and Sumsub. Braspag is listed as a broad incumbent. RecargaPay is listed as a regional player.
Does Paag have an API?
No public API is recorded for Paag.
What industry is Paag in?
Paag's product category is Payment Processing and Compliance Software. Its primary akta.pro industry code is MPAEABAM, iCasino Payments & Fraud/Risk Services, with a secondary code of MPAEALAG, Payouts & Disbursements (Withdrawals, RTP, Mass Payouts). Its NAICS code is 7132 and its SIC code is 6221.