“Can a Brazilian SME billing platform become the vertically integrated financial OS for PMEs by stacking its own Payment Institution and SCFI licenses?”
Asaas began in 2010 as a billing/collections SaaS for Brazilian SMEs, then evolved into a full digital business account (conta digital PJ) once it received Payment Institution authorization from the Central Bank — becoming the 31st IP in Brazil. From 2024 onward it has been layering credit products on top of its payment rails: PJ credit card (2024), receivables anticipation with a R$100M FIDC (2025), and now an SCFI license (2026) that lets it originate and fund credit on-balance-sheet. The strategic move is to graduate from PSP/BaaS into a vertically integrated SME finance platform.
Asaas discloses Asaas (in-house, BCB Payment Institution #31) as its banking provider, according to the Embedded Finance Index 2026.
Asaas does not disclose a bank charter of its own; its banking services are provided through Asaas (in-house, BCB Payment Institution #31).
Asaas processes payments through Asaas Payments (self-operated), Asaas Checkout (self-operated), Pix (self-operated via Asaas IP), Boleto bancário (self-operated), Credit card acquiring (self-operated), Debit card acquiring (self-operated), Payment links (self-operated) and Asaas Tap (self-operated). Disclosed money-movement rails: Pix.
Asaas's cards are issued through Asaas (in-house).
Asaas's lending and capital products are provided by Asaas (in-house, SCFI license).
Asaas runs its ledger on Asaas (in-house).
Asaas connects to bank accounts through Asaas Open Finance / Automatic Pix (self-operated).
Asaas integrates with Webhooks, REST API, Postman collections and Split de pagamentos API.
The Embedded Finance Index 2026 maps 8 layers in Asaas's stack: Payments / PSP (Asaas Payments (self-operated), Asaas Checkout (self-operated), Pix (self-operated via Asaas IP), Boleto bancário (self-operated) and 4 others); Money movement (Pix); Banking / BaaS (Asaas (in-house, BCB Payment Institution #31)); Card issuing (Asaas (in-house)); Ledger (Asaas (in-house)); Lending (Asaas (in-house, SCFI license), Antecipação de recebíveis de cartão de crédito (from 1.25%/month), Antecipação de recebíveis de boleto bancário (from 5.79%/month), Antecipação automática de cartão and 3 others); Open banking (Asaas Open Finance / Automatic Pix (self-operated)); Accounting (Webhooks, REST API, Postman collections and Split de pagamentos API).
Asaas was founded by Diego Contezini and Piero Contezini and is founded in 2010, headquartered in Joinville, Santa Catarina, Brazil.
Asaas has raised $148M+ (disclosed) in total (latest round: Later Stage VC).
Get a read on where your own stack stands against Asaas and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.