This article is from www.blocknews.com.br and the original article can he read here in Portuguese
Bossanova will have a bank that has a plan to benefit 850 startups in one year.
After reaching the milestone of a thousand invested startups, Bossanova Investimentos is launching a digital bank focused on entrepreneurs. The objective of the venture capital company is to offer products that seek to democratize investment in startups in the country.
For Bossabank, the company is using Modal bank’s white label infrastructure, which includes customized services in areas such as banking, insurance, investments and credit. And there will also be “investback”, a form of cashback in which 1% of the fees inherent to operations is reversed in resources for investment in startups, as reported by Fintechs Brasil, Blocknews partner site.
Bossanova’s expectation is that Bossabank will move BRL 1 billion in the first year and that more than 850 startups will benefit from the services. According to João Kepler, CEO of Bossanova, the goal is to make more people able to invest in startups and not just institutional investors. Thus, the bank will serve both investors and startups.
The model follows the premise of Silicon Valley Bank, a reference for American startups. Through the platform, individuals and companies will be able to open an account for free. Thus, they will be able to make bank transfers, PIX, pay slips and have access to the financial services of a traditional bank, only with a prepaid credit card. For companies, it will soon also be possible to anticipate receivables.
Another differential will be the possibility for the financial institution to connect with solutions developed by fintechs that are part of the company’s portfolio of investees. “While we will be able to expand the offer of financial products for Bank customers, we will be able to be a laboratory of initiatives and solutions for the national startup market”, highlights Kepler.
Transfeera and Inco are examples of startups that are already validating integrations, enabling services such as routine management and payment processing automation and electronic issuance of Bank Credit Notes for startups.
André Lauzana, CFO and executive director of Modal, says that the Modal as a Service that Bossanova uses is an unprecedented model in the market.