BTG Pactual
Also a provider — view BTG Pactual’s profile →“Can Latin America's largest investment bank become the embedded-finance and SMB-banking platform for Brazil?”
Founded1983
HQSão Paulo, Brazil
FoundersAndré Esteves
IndustryBank / National
The story
Founded 1983 as a Brazilian brokerage and built into Latin America's largest investment bank (>$300B AUC). Since ~2020, has moved aggressively into SMB digital banking via BTG Pactual Empresas — a full API-driven PJ account product competing with Brazilian neobanks. Also operates a BaaS business (payment initiator, accounts) to other financial institutions, and has used Synctera as the US BaaS layer to offer USD accounts to Brazilian retail clients — a cross-border embedded-finance play unusual among LatAm incumbents.
Product timeline
1983
Founded as a brokerage firm in Rio de Janeiro.· founding
2022
Launched payment initiator (ITP) technology under Brazil's Open Finance, offered as BaaS to other institutions.· banking
2022
Partnered with Synctera to launch US banking and investment products for Brazilian retail clients.· banking
2025
Launched same-day credit card receivables advance product for SMB clients (Rede, Cielo, Getnet, Stone).· lending
Regulated entities
1
regulatory licence held by BTG Pactual
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
9 layers disclosed in BTG Pactual’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
17 more providers across 8 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.