What UPbank Digital does

UPbank Digital S.A. is a privately held Brazilian fintech, founded in 2017 and headquartered in Goiânia, Goiás (CNPJ 29.228.001/0001-70). The company operates a 100% digital payment platform serving individual consumers and small merchants, with a value proposition built on financial inclusion: account opening and core services are free, no SPC/SERASA credit checks are performed, and there are no monthly maintenance fees or annual charges. The product portfolio centers on UPconta (a digital payment account operated via mobile app enabling deposits via boleto, transfers, bill payments, mobile recharge, and QR code payments) and UPcartão (an international prepaid Mastercard issued in partnership with Hub Pagamentos S.A., which serves as the regulated card-issuing partner). The platform extends into UPbenefícios, a three-tier subscription benefit program (UPbasic R$9.90/month, UPplus R$19.90/month, UPpremium R$29.90/month) bundling assistance services from Equatorial and a R$5,000 monthly sweepstake.

The business model combines transaction fees (deposits by boleto R$2.50–3.00, express transfers R$6.00–7.90, lottery deposits/withdrawals R$6.90, ATM withdrawals R$7.90), one-time card fees (issuance R$14.90, reissuance R$10.00), and subscription fees from UPbenefícios. Distribution is mobile-first (Google Play and App Store) with a referral program (#indiqueEGanhe) and a physical correspondent network (UPcorrespondentes) where local merchants serve as service points for deposits, withdrawals, bill payments, and mobile recharge. The company is regulated by Banco Central do Brasil as a payment institution under Circular 3.680, with customer funds required to be held in Brazilian Government Treasury bonds.

In 2022, UPbank expanded into B2B merchant services through Cartão da Empresa (a proprietary store-branded credit card launched January 2022), UPparceiros (a partner program enabling merchants to accept PIX, boleto, QR code, and payment links), and the previously mentioned UPcorrespondentes network. Disclosed customer count stands at 2,000+, and the company reports no public funding rounds, no revenue figures, no headcount data, and no geographic expansion beyond Brazil.

Name

UPbank Digital

Legal name

UPbank Digital S.A.

Website

https://upbank.digital

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

UPbank Digital is a privately held Brazilian fintech founded in 2017 that operates a 100% digital payment platform (UPconta) and prepaid Mastercard (UPcartão), targeting underbanked consumers and small local merchants with no SPC/SERASA credit checks, no monthly fees, and a correspondent banking network for physical service access.

Ownership category

akta.pro rank

Product category

Digital Payments & Mobile Banking

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Activities Related to Credit Intermediation (5223)

SIC

Finance Services (6199)

akta.pro primary industry

Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK)

akta.pro secondary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

Keywords

• Digital payment account
• Prepaid Mastercard card
• Mobile-first fintech
• Financial inclusion services
• Correspondent banking services

Headquarters

HQ city

Goiânia

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Subscription Plans (UPbenefícios): Monthly subscription fees from three benefit plan tiers (UPbasic, UPplus, UPpremium) offering assistance services, insurance, and exclusive benefits.
2. Transaction Fees: Fees charged for specific transactions including deposit by ticket (R$ 2.50-3.00), express transfers (R$ 6.00-7.90), lottery deposits/withdrawals (R$ 6.90), and ATM withdrawals (R$ 7.90).
3. Card Fees: One-time fees for card issuance (R$ 14.90) and reissuance (R$ 10.00).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

UPbank Digital operates a 100% digital payment platform offering a digital payment account (UPconta) and an international prepaid Mastercard card (UPcartão) accessible via a mobile app. The platform enables deposits via boleto, transfers between UPcontas and interbank transfers (DOC/TED), bill payments, prepaid mobile recharges, ATM withdrawals at Rede 24horas and lottery outlets, and QR code/Pix payments — all with no SPC/SERASA credit consultation, no monthly maintenance fee, and no annual fee. The offering is rounded out by tiered benefit subscriptions (UPbenefícios), a B2B merchant partnership program (UPparceiros), a private-label business credit card (Cartão da Empresa), and a correspondent banking service (UPcorrespondentes) that lets local merchants act as financial service points.

Product overview

UPbank Digital is a 100% digital Brazilian fintech offering a unified platform of payment and financial services. The core product portfolio consists of UPconta (digital payment account) and UPcartão (international Mastercard prepaid card) as the primary offerings for individual users, supplemented by UPbenefícios (tiered assistance and discount plans). For business clients, UPbank offers the Cartão da Empresa (business credit card), UPparceiros (merchant payment acceptance and referral program), and UPcorrespondentes (correspondent banking for local businesses). The platform operates without SPC/SERASA credit checks and with no monthly or annual fees for core account services.

Differentiator

Problem solved

Functional benefit

Brands

• UPconta: Digital payment account (Conta Digital de Pagamentos) offering deposits, transfers, bill payments, receipts, balance/extrato queries, and prepaid cell phone recharge.
• UPcartão
• UPbenefícios
• UPparceiros
• UPcorrespondentes
• Cartão Exclusivo da Empresa (Cartão de Crédito)

Products and services

• UPconta Digital payment account operated entirely through the UPbank mobile app, enabling deposits via boleto, transfers between UPcontas and interbank transfers (DOC/TED), bill payments, value receipts, and prepaid mobile recharges, with no monthly maintenance or annual fee.
• UPcartão International prepaid Mastercard issued in partnership with Hub Pagamentos, operating on a credit function without SPC/SERASA consultation, reloadable, accepted at physical and online merchants, with cash withdrawals at Rede 24horas and lottery outlets, bill payments, transfers, and Mastercard Surpreenda benefits.
• UPbenefícios Three-tier (UPbasic R$9.90/mo, UPplus R$19.90/mo, UPpremium R$29.90/mo) subscription benefit plans delivered in partnership with Equatorial, offering assistance services, the EQ Vantagens discount network, baby care kits, sweepstakes, and accident disability insurance.
• Cartão da Empresa Proprietary store-branded private-label credit card issued in partnership with UPbank, allowing partner merchants (supermarkets, pharmacies, retail stores) to extend credit to their own customers for in-store purchases, with exclusive discounts, offers, and sweepstakes designed to drive sales and customer loyalty.
• UPparceiros Partner program enabling businesses to receive payments via transfer, boleto, Pix, QR code, and payment links when customers have UPconta accounts, with referral credits earned through the #indiqueEGanhe program for referred clients.
• UPcorrespondentes Correspondent banking service allowing local businesses to offer UPbank financial services on-site, including cash withdrawals, deposits, bill payments, and mobile top-ups, with the merchant generating additional commission-based revenue from each UPbank service performed.

Quantifiable outcome

• Free account opening and monthly maintenance with most services at zero cost

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Hub Pagamentos S.A.coreTechnology or IntegrationHub Pagamentos S.A. (CNPJ: 13.884.775/0001-19) is the card issuer responsible for the prepaid cards and payment processing. They handle card issuance, transaction administration, and fee collection. This is a critical partnership as Hub provides the actual payment infrastructure and regulatory compliance for the card products.
• EquatorialminorStrategic or Co-development PartnerEquatorial provides customized assistance plans for UPbank customers. They offer three plan options with up to 13 different assistance services including food basket benefits, maternity kits, lottery drawings, and accident disability insurance.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Will Bank: Brazilian digital bank targeting the unbanked with no-fee accounts, prepaid cards, and credit without traditional credit bureau checks. Closely aligned with UPbank's inclusion positioning.

Direct peers

• Banco Original: Brazilian digital bank offering free digital accounts, prepaid and credit cards, and SMB banking. Similar mid-size Brazilian fintech positioning consumer and SMB segments.
• Nubank: Brazil's largest neobank offering digital accounts, credit cards, and personal loans via mobile app. Directly comparable as a mobile-first consumer fintech with an inclusion-oriented value proposition, but operating at vastly greater scale.
• PicPay: Brazilian digital wallet and payment platform offering free accounts, prepaid cards, PIX, and merchant payment acceptance. Comparable PLG mobile-first model serving both consumers and merchants.
• Banco Inter: Brazilian digital bank offering free checking accounts, prepaid cards, PIX transfers, and business banking. Comparable digital-first payment platform with consumer and SMB segments, operating at national scale.
• PagBank PagSeguro: Brazilian payments fintech offering digital accounts, prepaid cards, and merchant acquiring services (including QR code). Direct overlap with UPconta digital account, UPcartão, and merchant acceptance products.
• C6 Bank: Brazilian digital bank offering multi-tier accounts, Mastercard credit cards, and business banking via mobile app. Similar product mix with tiered subscription benefits and international card issuance.

Broad incumbents

• Next (Bradesco): Digital bank from Bradesco targeting younger consumers with free accounts, cards, and financial management tools. Comparable mobile-first consumer offering backed by an incumbent bank.
• Mercado Pago: Payment fintech arm of Mercado Libre offering accounts, prepaid cards, QR code merchant acceptance, and credit. Comparable across payment account, card, and SMB acceptance, but backed by massive e-commerce ecosystem.
• Banco Pan: Brazilian digital-focused bank offering accounts, credit cards, payroll loans, and consumer credit to underbanked segments. Comparable inclusion-oriented consumer credit positioning at established-bank scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/upbank_digital
• LinkedInlinkedin.com/company/upbank-digital

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 UPbank Digital