Cotação

What Cotação does

Cotação, operating commercially as Rendimento Câmbio and legally as Rendimento DTVM S/A within the Cotação DTVM S/A group, is a licensed Brazilian currency exchange (casa de câmbio) headquartered on Avenida Faria Lima in São Paulo. Founded in 1968 and employing 251-500 staff, the company provides foreign currency purchase and sale across 20+ currencies (USD, EUR, GBP, CAD, MXN, among others), International Travel Cards with a reduced 1.10% IOF incentive rate, and international money transfer services including the Remessa Expressa Cash express corridor. It also operates a corporate FX vertical (Soluções em Câmbio para Empresas) and complementary offerings such as travel insurance, foreign currency checks, investment products, and a service for purchasing old US dollar bills.

Distribution is hybrid and multi-channel: a national network of physical retail stores, iOS and Android mobile apps (Cotação Câmbio Online / Rendimento), a web portal for currency simulation and online transactions, WhatsApp and phone sales at (11) 4002-1010, home delivery of currency and cards, and a third-party channel built on Correspondentes Cambiais (correspondent currency agents) and partner agencies accessed through a dedicated portal. A virtual specialist assistant called 'Brenda' supports customers through digital flows. The underlying technology stack is a regulated DTVM platform rather than a pure fintech build, with the digital layer layered on top of licensed brokerage operations.

The business model is primarily transactional: revenue is generated from the spread on currency buy/sell rates, fees on international transfers, issuance and load economics on International Travel Cards, referral commissions on travel insurance, and B2B FX fees from corporate clients. Pricing is pay-as-you-go with variable spreads displayed at the point of transaction; no subscription or contracted revenue is evident. The customer base is dominated by individual Brazilian travelers and SMB remittance senders (long-tail retail), supplemented by corporate FX clients and partner agencies distributing Cotação's products under the licensed brand.

Name

Cotação

Legal name

Rendimento DTVM S/A

Website

https://cotacao.com.br

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

251–500 employees

Short description

Rendimento Câmbio (Cotação DTVM S/A) is a licensed Brazilian currency exchange serving individual travelers and corporate clients with foreign currency purchase across 20+ currencies, International Travel Cards with a 1.10% IOF incentive, international remittances, and corporate FX solutions, distributed via stores, mobile app, web portal, WhatsApp, and a correspondent agent network.

Ownership category

akta.pro rank

Product category

Foreign Currency Exchange Services

akta.pro primary industry

Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)

akta.pro secondary industries

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Foreign currency exchange
• International travel cards
• Cross-border remittances
• Corporate exchange solutions
• Travel insurance services

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Currency Exchange (Compra de Moeda Estrangeira): Revenue generated from the spread between the buy and sell rates of foreign currencies (USD, EUR, GBP, and 20+ other currencies). Customers purchase physical or digital foreign currency in Brazil; the company earns the spread as its primary revenue.
2. International Money Transfers (Remessas Internacionais): Revenue from fees charged on international money transfer services (Remessa Expressa Cash and standard international transfers), both for sending and receiving money from abroad.
3. International Travel Cards: Revenue from issuing and managing International Travel Cards, including issuance fees and the spread on card loading. The company offers a promotional IOF rate of 1.10% on transactions, which incentivizes card usage.
4. Travel Insurance (Seguro Viagem): Revenue through referral or commission from travel insurance products offered alongside currency and card services, positioned as a complementary offering for international travelers.
5. Corporate Exchange Solutions (Soluções em Câmbio para Empresas): B2B revenue stream targeting businesses requiring foreign exchange for operations, payroll, imports, or other corporate needs.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels10 records

Core offering

Cotação (Rendimento Câmbio) is a Brazilian licensed currency exchange house that sells foreign currency in physical and digital form (USD, EUR, GBP and 20+ other currencies), issues and manages international travel cards with an incentivized 1.10% IOF rate, and processes cross-border remittances including an express cash option. It serves both individual travelers and corporate clients through physical stores, a digital portal, mobile apps, WhatsApp sales, and a partner correspondent network.

Product overview

Rendimento Câmbio is a Brazilian foreign exchange company operating as Cotação DTVM S/A, offering a comprehensive suite of currency exchange and international financial services. The core product portfolio centers on foreign currency purchase and sales (including USD, EUR, GBP, and 20+ other currencies), international travel cards (with a corporate variant), and international money transfer services (including standard transfers, express remittances, and cross-border payment solutions). The ecosystem includes mobile applications (Rendimento Câmbio App and Rendimento App) for digital access, plus ancillary services such as travel insurance, foreign currency checks, investment products, delivery services, and a referral program. For business clients, the company provides dedicated enterprise exchange solutions and correspondent network partnerships. The company also employs a virtual specialist chatbot named Brenda for customer service automation.

Differentiator

Problem solved

Functional benefit

Brands

• Rendimento Câmbio: Primary brand for currency exchange and international remittance services
• Brenda
• Indique e Ganhe

Products and services

• Compra de Moeda Estrangeira Purchase of 20+ foreign currencies including US Dollar, Euro, Pound Sterling, Canadian Dollar and Mexican Peso, available in-branch or delivered to the customer's address. Targeted at Brazilian individual travelers and corporate clients needing foreign cash.
• Cartão de Viagem Internacional International prepaid travel card that allows users to pay abroad with an incentivized 1.10% IOF rate, with online balance and statement viewing. Targeted at Brazilian international travelers.
• Cartão de Viagem Internacional Corporate Corporate version of the international travel card designed for business travelers, with company account management features. Targeted at Brazilian businesses with employees traveling internationally.
• Aplicativo Rendimento Câmbio Mobile application (Cotação Câmbio Online on iOS/Android) providing self-service access to currency purchase, travel card management, remittance initiation and balance viewing. Targeted at Brazilian individual consumers and business users transacting on mobile.

Quantifiable outcome

• 1.10% IOF on International Travel Cards — below the standard Brazilian IOF rate for card transactions
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Correspondentes Cambiais (Correspondent Currency Agents)coreChannel Partner/ Reseller/ DistributorA network of correspondent currency agents (Correspondentes Cambiais) that distribute Cotação's exchange products and services under the brand to customers in regions where Cotação does not have direct physical stores. Agents operate under regulatory compliance and use Cotação's platform and rates.
• Partner Agencies (Área para Parceiros)coreChannel Partner/ Reseller/ DistributorIndependent partner agencies that resell Cotação's currency exchange and remittance products through a dedicated partner portal. Partners gain access to the licensed Cotação brand, competitive exchange rates, and digital tools to serve their own customer bases.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Bid Finance (Cartão Bid Travel): Brazilian fintech offering dollar-denominated travel cards and FX-linked products — a direct competitor to Cotação's International Travel Card, especially around IOF/IOF-incentivized card positioning.
• Remitly: Mobile-first international remittance app competing for Brazilian send-and-receive flows — overlapping with Cotação's express and standard remittance products on speed, pricing and digital UX.
• Wise: Digital cross-border payments platform offering multi-currency accounts and cheap FX/transfers — the canonical disruptor against which Cotação's spread-based retail FX and remittance economics must defend.

Broad incumbents

• Travelex: Global retail FX and travel-money specialist operating airport and city currency-exchange branches plus travel prepaid cards — a broad incumbent against which Cotação's store-and-card model is benchmarked at a smaller, regional scale.
• Western Union: Global cross-border money-transfer incumbent with a large agent network in Brazil for international remittances — directly comparable to Cotação's 'Remessa Expressa Cash' and international transfer revenue streams.
• Banco Itaú BBA (FX/travel-card offering): One of Brazil's largest banks with broad FX, travel-card and international-payment capabilities for retail and corporate customers — represents the bundled-services incumbent that competes with Cotação's standalone FX proposition.
• MoneyGram: Global money-transfer operator with Brazilian retail agent presence for send/receive international remittances — competes head-on with Cotação's international money-transfer revenue stream and partner/correspondent network.

Direct peers

• Câmbio Real: Brazilian digital-first currency exchange and travel-card issuer competing in the same prepaid-card, USD/EUR retail FX and corporate FX segments as Cotação, with a similar DTVM-licensed operating model.
• Get Money: Brazilian FX/remittance player targeting individual travelers with currency purchase and international transfers — directly comparable to Cotação's retail FX and remittance products aimed at the same Brazilian consumer profile.
• Confidence Câmbio: Brazilian retail and corporate casa de câmbio offering foreign currency, travel cards and remittances to Brazilian consumers and businesses — the closest direct domestic peer to Cotação's core retail FX and travel-card business.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCY4unnlB-7KWaavDEdwjEkQ
• Facebookfacebook.com/cotacao
• LinkedInlinkedin.com/company/cotacao-cambio
• Instagraminstagram.com/rendimento.cambio
• TikToktiktok.com/@rendimento
• Xx.com/cotacaocambio

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Cotação