Company:
bxblue

Founders:
Fabricio Nogueira Buzeto
Gustavo Gorenstein
Roberto Mascarenhas Braga

Site:
www.bxblue.com.br

Founding Date:
2016

Country:
Brazil

Location:
Distrito Federal, Brasilia

Sector:
Fintech

Business Model:
Marketplace

Investment Year:
2017

Portfolio:
Angel

Status:
Active

General Partner:
Leonardo Teixeira

About

BXBlue was born in 2016 to fix a problem: access to payroll secured loans in an online, transparent manner. In early 2017, a marketplace to help users compare, choose, and get payroll loans online launched and got immediately accepted to Y Combinator.

Public Services Payroll Loans represent more than 50% of the personal loans market in Brazil with a total market size (measured by outstanding loans) of some USD 80 billion. Borrowers still borrow via brokers who charge large spreads on the deals given the manual process involved in reading a clients statements, performing checks and securing the loan from a bank.

BXBlue is automating the entire process to offer consumers a truly end to end digital seamless, quick and cheaper borrowing experience. BXBlue is the first national case of Bank of Brazil’s open banking initiative to partner up with fintechs, and in 2018 BXBlue <> Bank of Brasil APIs connected.

Team

The three founders met at a startup event, in 2012, hosted and organized by Roberto Braga. Gustavo was back from his master’s degree in London and volunteered for the event, while Fabricio was one of the keynote speakers.

The three founders became friends, while each one had their startup. 500 Startups invested Fabricio with QualCanal, but the business didn’t turn out to be viable, so he started working in Roberto’s company. Roberto decided to close down his venture at the same time, Gustavo was exiting his startup Poup, to a bank in Brazil. It was almost magical that the three friends were in between projects at the same time, enabling bxblue’s kickstart.

For more information about the founders visit:
Guga: https://www.linkedin.com/in/gorenstein/
Roberto: https://www.linkedin.com/in/robertomb/
Fabricio: https://www.linkedin.com/in/fabriciobuzeto/

Fabricio Nogueira Buzeto, Roberto Mascarenhas Braga and Gustavo Gorenstein