“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.