“Can a Brazil-native spend management platform outcompete US incumbents by embedding into local ERPs, Pix rails and Banco do Brasil's distribution?”
Founded in 2019 in Florianópolis, Payfy is a Brazilian corporate expense management platform combining Mastercard-issued corporate cards (credit, prepaid, virtual), Pix payments, reimbursements and AI-powered accounting automation. A 2022 strategic investment from Banco do Brasil's CVC (BB Ventures) anchored the company to the incumbent bank and led to the co-built BB Expenses product. Today Payfy serves 1,500+ Brazilian finance teams and competes with US spend-management incumbents (Ramp, Brex, Expensify) via ERP-native integrations with TOTVS, SAP, Senior, Sankhya and Omie plus native Pix and NF-e support.
payfy processes payments through Pix (self-operated via Payfy corporate rails). Disclosed money-movement rails: Pix.
payfy's cards run on Mastercard.
payfy integrates with TOTVS Protheus, SAP, Senior, Sankhya, Omie, Oracle, Conta Azul and Slack.
The Embedded Finance Index 2026 maps 5 layers in payfy's stack: Payments / PSP (Pix (self-operated via Payfy corporate rails)); Money movement (Pix); Card network (Mastercard); Accounting (TOTVS Protheus, SAP, Senior, Sankhya and 4 others); Spend / AP (Payfy (self-operated)).
payfy was founded by André Apollaro and is founded in 2019, headquartered in Florianópolis, Santa Catarina, Brazil.
payfy has raised $1.1M in total (latest round: BB Ventures (CVC Banco do Brasil), 2022).
Get a read on where your own stack stands against payfy 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.