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EloPar

“Can a bank-owned holding company build an independent embedded-payments and loyalty ecosystem — spanning benefits, toll, loyalty, and now payment accounts — that competes with Brazil's fast-moving fintech neobanks?”

Founded2015
HQBarueri, São Paulo, Brazil
IndustryFintech / Holding company
The story

EloPar is not an operating fintech but a Brazilian holding company created in 2015 by Banco do Brasil and Banco Bradesco to consolidate their non-banking payment and loyalty ventures — Alelo (meal/benefit cards), Livelo (loyalty points), Veloe (toll/mobility), and Pede Pronto (food ordering). The group's most recent structural move is the 2025 launch of NAIP Instituição de Pagamento S.A., a Central Bank-regulated payment institution focused on corporate payroll accounts, which extends the group from card-scheme and benefits products into direct account issuance.

Last 12 months
2025
2026-02
Product timeline
2015
EloPar founded as a holding company via a partnership between Banco do Brasil and Banco Bradesco· founding
2015
Consolidated Alelo (benefits cards), Livelo (loyalty), and Veloe (mobility payments) under the holding· structure
2025
NAIP Instituição de Pagamento S.A. began regulated operations under Banco Central do Brasil, issuing prepaid and postpaid payment accounts for corporate payroll clients· banking
Regulated entities
1
regulatory licence held by EloPar
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in EloPar’s embedded-finance stack
Banking / BaaS
NAIP Instituição de Pagamento S.A. (in-house)
Accounting gap: none