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Letsbank

Full company profile

uuid000fwmh

Namestring
Letsbank
Legal namestring
Banco Letsbank S.A
Websiteurl
letsbank.com.br
Company typeenum
Private
Founded yearint
2018
Descriptiontext

Letsbank (legal name: Banco Letsbank S.A.) was a Brazilian digital banking platform headquartered in São Paulo, founded in 2018. The firm operated as part of the Banco Master group of financial institutions, offering banking solutions with a stated headcount of 101–250 employees. Historically, Letsbank pursued inorganic growth, including the April 2021 acquisition of IOUU (a Brazilian lending/credit marketplace) for an undisclosed amount, to broaden its digital banking capabilities. Bruno Sayão is identified as Partner & COO.

As of November 18, 2025, Letsbank is no longer an operating entity. The Banco Central do Brasil, through Ato do Presidente No. 1.369, decreed the extrajudicial liquidation of Banco Master S.A., Banco Master de Investimento S.A., and Banco Letsbank S.A. jointly. Since the decree, the institution's activities have been limited to wind-down administration: creditor consolidation and validation (concluded January 19, 2026) in coordination with the Fundo Garantidor de Créditos (FGC), restoration of the customer service hotline (March 17, 2026), and relocation of the liquidation customer service office to Av. Angélica, No. 2.197, Higienópolis, São Paulo (effective June 18, 2026). The company's official website now serves solely as a communication channel for creditor notices and liquidation updates.

Letsbank's operating status is classified as closed. No products or services are being marketed, no pricing information is disclosed, no revenue figures are available, and no active go-to-market motion exists. The entity has no subsidiaries, no active funding rounds, no parent company, and no publicly disclosed customer base. Its remaining function is the orderly processing of creditor claims via FGC under the regulatory liquidation regime.

Short descriptiontext

Letsbank (Banco Letsbank S.A.) was a São Paulo-based Brazilian digital banking platform, founded in 2018, operating within the Banco Master group. Since November 2025 it has been under extrajudicial liquidation decreed by the Banco Central do Brasil and is no longer operating as a going concern.

Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersSão Paulo, Brazil
HQ citystring
São Paulo
HQ countrystring
Brazil
HQ regionstring
Latin America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
digital banking platform, banking-as-a-service, financial services, B2B banking solutions, credit and deposits
Industry1 code
1Banking-as-a-Service (BaaS) Neobanks / Neobank Enablers
CodeFSABAFALPrimaryYes
NAICS code1 code
  • Commercial Banking52211
SIC code1 code
  • State Commercial Banks6022
Product category
Digital Banking Platform
Social media profiles1 record
Cost components4 values
Personnel, Operations, Infrastructure, Others
GTM typeB2B
B2B
Offering typeSoftware
Software
Core offering1 text field

Letsbank (Banco Letsbank S.A.) was a Brazilian digital banking platform that offered banking solutions to other companies. Following the extrajudicial liquidation decreed by Banco Central do Brasil on November 18, 2025, the company no longer offers products or services and its website serves only as a communications channel for liquidation notices, creditor updates, and FGC payment instructions.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Letsbank (Banco Letsbank S.A.) was a Brazilian financial institution operating under Liquidação Extrajudicial (judicial liquidation proceedings) alongside Banco Master S.A. and Banco Master de Investimento S.A. The company's official website functions as a communication channel for creditor notices and liquidation process updates rather than as a product/service marketing platform. The site provides information about the Fundo Garantidor de Créditos (FGC) payment process for creditors, customer service contact details, and address changes for the liquidation office. No active products or services are being marketed.

Scale indicator1 record

Each record includes

Type, Value, Description, Source

Recent move7 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight1 record

Each record includes

Type, Description

Peers10 records
1Will Bank
TypeEmerging player
Description

Brazilian digital account startup targeting underserved and corporate-banking-adjacent use cases. Comparable as a smaller Brazilian digital-bank peer.

2Banco Inter
TypeDirect peer
Description

Brazilian super-app bank providing retail banking, investments, credit, and a B2B platform (Inter Empresas). Directly comparable as a homegrown Brazilian digital bank with embedded-banking ambitions.

3Banco Original
TypeDirect peer
Description

Brazilian 100% digital bank offering business and personal accounts, credit, and a B2B platform (Original Empresas). Comparable peer in the Brazilian digital-bank and embedded-banking space.

4Dock
TypeDirect peer
Description

Brazilian technology company providing banking-as-a-service infrastructure (cards, accounts, payments) to fintechs and corporates. Comparable peer in Brazilian BaaS infrastructure serving the same 'banking solutions to other companies' value proposition.

5Neon Pagamentos
TypeDirect peer
Description

Brazilian digital account and credit provider with a B2B 'Neon Empresas' offering. Comparable as a Brazilian digital bank with consumer and SME/embedded-banking exposure.

6Nubank
TypeDirect peer
Description

Brazil's largest digital-only neobank offering consumer banking, credit cards, and B2B banking-as-a-service via NuPay. Comparable as a contemporaneous Brazilian digital bank competitor serving both retail and embedded-banking use cases.

7Banco Pan
TypeRegional player
Description

Brazilian commercial bank with a strong digital and consumer-credit focus. Comparable as a Brazilian bank peer in the broader commercial-banking and digital channels category.

8C6 Bank
TypeDirect peer
Description

Brazilian digital bank offering consumer accounts, credit cards, and wealth products, with a growing B2B platform via C6 Pay. Comparable Brazilian neobank peer targeting similar retail and embedded-banking segments.

9BTG Pactual (digital banking unit)
TypeBroad incumbent
Description

Brazil's largest investment bank, which has expanded into retail digital banking and B2B banking services. Comparable as a broader incumbent operating in the same Brazilian digital-banking and embedded-finance categories.

10Pomelo
TypeDirect peer
Description

Latin American Banking-as-a-Service platform enabling companies to launch digital banking products. Closely comparable to Letsbank's described positioning as a 'digital banking platform that offers banking solutions to other companies.'

Market position
Strengths2 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat2 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights3 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

Letsbank

Digital Banking Platformletsbank.com.br

Letsbank (Banco Letsbank S.A.) was a São Paulo-based Brazilian digital banking platform, founded in 2018, operating within the Banco Master group. Since November 2025 it has been under extrajudicial liquidation decreed by the Banco Central do Brasil and is no longer operating as a going concern.

What Letsbank does

Letsbank (legal name: Banco Letsbank S.A.) was a Brazilian digital banking platform headquartered in São Paulo, founded in 2018. The firm operated as part of the Banco Master group of financial institutions, offering banking solutions with a stated headcount of 101–250 employees. Historically, Letsbank pursued inorganic growth, including the April 2021 acquisition of IOUU (a Brazilian lending/credit marketplace) for an undisclosed amount, to broaden its digital banking capabilities. Bruno Sayão is identified as Partner & COO.

As of November 18, 2025, Letsbank is no longer an operating entity. The Banco Central do Brasil, through Ato do Presidente No. 1.369, decreed the extrajudicial liquidation of Banco Master S.A., Banco Master de Investimento S.A., and Banco Letsbank S.A. jointly. Since the decree, the institution's activities have been limited to wind-down administration: creditor consolidation and validation (concluded January 19, 2026) in coordination with the Fundo Garantidor de Créditos (FGC), restoration of the customer service hotline (March 17, 2026), and relocation of the liquidation customer service office to Av. Angélica, No. 2.197, Higienópolis, São Paulo (effective June 18, 2026). The company's official website now serves solely as a communication channel for creditor notices and liquidation updates.

Letsbank's operating status is classified as closed. No products or services are being marketed, no pricing information is disclosed, no revenue figures are available, and no active go-to-market motion exists. The entity has no subsidiaries, no active funding rounds, no parent company, and no publicly disclosed customer base. Its remaining function is the orderly processing of creditor claims via FGC under the regulatory liquidation regime.

Letsbank firmographics

Firmographics
Name
Letsbank
Legal name
Banco Letsbank S.A
Website
https://letsbank.com.br
Company type
Private
Founded year
2018
Operating status
Closed
Headcount range
101–250 employees
Short description
Letsbank (Banco Letsbank S.A.) was a São Paulo-based Brazilian digital banking platform, founded in 2018, operating within the Banco Master group. Since November 2025 it has been under extrajudicial liquidation decreed by the Banco Central do Brasil and is no longer operating as a going concern.
Ownership category
akta.pro rank

Letsbank industry classification

Industry
Product category
Digital Banking Platform
NAICS
Commercial Banking (52211)
SIC
State Commercial Banks (6022)
akta.pro primary industry
Banking-as-a-Service (BaaS) Neobanks / Neobank Enablers (FSABAFAL)

Keywords

  • Digital banking platform
  • Banking-as-a-service
  • Financial services
  • B2B banking solutions
  • Credit and deposits

Where Letsbank is headquartered

Location

Headquarters

HQ city
São Paulo
HQ country
Brazil
HQ region
Latin America

Offices1 record

Markets served

Letsbank business model

Business model
GTM type
B2B
Offering type
Software
Cost components
Personnel, Operations, Infrastructure, Others

Letsbank product offering

Product offering

Core offering

Letsbank (Banco Letsbank S.A.) was a Brazilian digital banking platform that offered banking solutions to other companies. Following the extrajudicial liquidation decreed by Banco Central do Brasil on November 18, 2025, the company no longer offers products or services and its website serves only as a communications channel for liquidation notices, creditor updates, and FGC payment instructions.

Product overview

Letsbank (Banco Letsbank S.A.) was a Brazilian financial institution operating under Liquidação Extrajudicial (judicial liquidation proceedings) alongside Banco Master S.A. and Banco Master de Investimento S.A. The company's official website functions as a communication channel for creditor notices and liquidation process updates rather than as a product/service marketing platform. The site provides information about the Fundo Garantidor de Créditos (FGC) payment process for creditors, customer service contact details, and address changes for the liquidation office. No active products or services are being marketed.

Differentiator

Problem solved

Functional benefit

Companies that use Letsbank

Customer profile

Segments1 record

Ideal customer profiles1 record

Letsbank technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Letsbank partnerships and signals

Strategic signal

Scale indicators1 record

Recent moves7 records

Expansion highlights1 record

Letsbank competitors and assessment

Company assessment

Emerging players

  • Will Bank: Brazilian digital account startup targeting underserved and corporate-banking-adjacent use cases. Comparable as a smaller Brazilian digital-bank peer.

Direct peers

  • Banco Inter: Brazilian super-app bank providing retail banking, investments, credit, and a B2B platform (Inter Empresas). Directly comparable as a homegrown Brazilian digital bank with embedded-banking ambitions.
  • Banco Original: Brazilian 100% digital bank offering business and personal accounts, credit, and a B2B platform (Original Empresas). Comparable peer in the Brazilian digital-bank and embedded-banking space.
  • Dock: Brazilian technology company providing banking-as-a-service infrastructure (cards, accounts, payments) to fintechs and corporates. Comparable peer in Brazilian BaaS infrastructure serving the same 'banking solutions to other companies' value proposition.
  • Neon Pagamentos: Brazilian digital account and credit provider with a B2B 'Neon Empresas' offering. Comparable as a Brazilian digital bank with consumer and SME/embedded-banking exposure.
  • Nubank: Brazil's largest digital-only neobank offering consumer banking, credit cards, and B2B banking-as-a-service via NuPay. Comparable as a contemporaneous Brazilian digital bank competitor serving both retail and embedded-banking use cases.
  • C6 Bank: Brazilian digital bank offering consumer accounts, credit cards, and wealth products, with a growing B2B platform via C6 Pay. Comparable Brazilian neobank peer targeting similar retail and embedded-banking segments.
  • Pomelo: Latin American Banking-as-a-Service platform enabling companies to launch digital banking products. Closely comparable to Letsbank's described positioning as a 'digital banking platform that offers banking solutions to other companies.'

Regional players

  • Banco Pan: Brazilian commercial bank with a strong digital and consumer-credit focus. Comparable as a Brazilian bank peer in the broader commercial-banking and digital channels category.

Broad incumbents

  • BTG Pactual (digital banking unit): Brazil's largest investment bank, which has expanded into retail digital banking and B2B banking services. Comparable as a broader incumbent operating in the same Brazilian digital-banking and embedded-finance categories.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights3 records

Customer concentration

Letsbank social profiles

Digital presence

Letsbank financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Letsbank leadership team

Management profile

Number of profiles

Profiles1 record

Letsbank funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Letsbank M&A and investment

M&A and investment

M&A1 record

Investments

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

Frequently asked questions about Letsbank

What does Letsbank do?

Letsbank (Banco Letsbank S.A.) was a Brazilian digital banking platform that offered banking solutions to other companies. Following the extrajudicial liquidation decreed by Banco Central do Brasil on November 18, 2025, the company no longer offers products or services and its website serves only as a communications channel for liquidation notices, creditor updates, and FGC payment instructions.

Is Letsbank a public or private company?

Letsbank is a private company. It is classified as unknown and is currently closed.

When was Letsbank founded?

Letsbank was founded in 2018. It employs 101 to 250 people.

Where is Letsbank based?

Letsbank is headquartered in São Paulo, Brazil, in the Latin America region.

Who are Letsbank's main competitors?

Will Bank is listed as an emerging player. Direct peers are Banco Inter, Banco Original, Dock, Neon Pagamentos, Nubank, C6 Bank and Pomelo. Banco Pan is listed as a regional player. BTG Pactual (digital banking unit) is listed as a broad incumbent.

Does Letsbank have an API?

No public API is recorded for Letsbank.

What industry is Letsbank in?

Letsbank's product category is Digital Banking Platform. Its primary akta.pro industry code is FSABAFAL, Banking-as-a-Service (BaaS) Neobanks / Neobank Enablers. Its NAICS code is 52211 and its SIC code is 6022.

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Live signals
The Rio TimesBanco Master Collapse Costs Brazil’s FGC Deposit Fund $11BBrazil's deposit-insurance fund FGC reported a R$57.4 billion cost from the Banco Master collapse, the largest single bank-failure event in post-Plano-Real history. The fund paid R$49 billion to 870,000 creditors and maintained liquidity above 1.85% of eligible deposits. Member banks contributed R$32.2 billion in advanced dues to recapitalize.OracleInnovation in financial services: Bank account opening and onboardingFinancial institutions are increasingly focusing on digital account opening and onboarding as 68% of consumers abandoned fintech applications in 2022, up from 63% in 2020. Oracle Cloud Infrastructure offers banks technology solutions including AI-based identity verification, automated processing, and cloud database services that can reduce application time to 15 minutes and onboarding to two days. A case study featuring Brazilian digital bank Letsbank demonstrates that migrating to Oracle Exadata Database Service on OCI resulted in performance improvements of 2,000% and scalability to handle one million API calls with non-bank partners.PR NewswireOutlook on the Brazil BNPL Industry to 2028 - Innovative Startups are Raising Funding Rounds to Further Expand Their Operations and Boost GrowthA new market report by Research and Markets projects Brazil's BNPL payments will grow 59.0% annually to reach $6.89 billion in 2022, with the industry's Gross Merchandise Value expected to increase from $4.33 billion in 2021 to $36.23 billion by 2028, recording a CAGR of 31.9%. The report identifies 34 million underbanked Brazilians and 52 million credit card users as key target demographics for BNPL providers. Fintech firms including ADDI, Nubank, Letsbank, and Sezzle are actively expanding in the Brazilian market, with startups raising funding rounds to accelerate growth as the market matures.