“Can a Brazilian-built, white-label payments-and-banking stack become the default embedded-finance rail for non-financial B2B platforms in LatAm?”
Hash was founded in 2017 in São Paulo as an end-to-end, white-label payment infrastructure platform letting non-financial B2B companies in Brazil embed POS, mobile, dashboard, and payments capabilities for their merchant networks. The 2021 Series B and Series C (totaling ~$55M from QED and Kaszek) scaled this 'embedded payments for B2B' thesis well before 'embedded finance' became a category label. Hash sits structurally in the same niche as Marqeta/Adyen-for-Platforms but localized for Brazilian merchant chains and franchises.
Hash discloses Hash (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Hash does not disclose a bank charter of its own; its banking services are provided through Hash (in-house).
Hash processes payments through Hash white-label payments (self-operated).
The Embedded Finance Index 2026 maps 2 layers in Hash's stack: Payments / PSP (Hash white-label payments (self-operated)); Banking / BaaS (Hash (in-house)).
Hash was founded by João Miranda and is founded in 2017, headquartered in Pinheiros, São Paulo, Brazil.
Hash has raised ~$59M in total (latest round: Series C, 2021).
Get a read on where your own stack stands against Hash 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.