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Sicoob UniMais Rio

“Can a Brazilian credit-union network build its own vertically integrated financial infrastructure — acquiring, cards, insurance, Pix — and compete with the incumbent private banks?”

Founded2022
HQRio de Janeiro, Brazil
IndustryFintech / SMB banking
The story

Sicoob UniMais Rio is a central cooperative (founded 2022) within the Sicoob system — Brazil's largest credit cooperative network — supporting 13 affiliated singular cooperatives in Rio de Janeiro and six other states. It does not build its own tech stack; instead it rides on the shared systemic infrastructure operated by Centro Cooperativo Sicoob (CCS) and Banco Cooperativo Sicoob S.A., including the Sipag acquiring platform, Super App Sicoob, and card issuing via Banco Sicoob. Recent strategic direction is embedded finance at the system level (embedded insurance with HDI, own acquiring rails, own Pix API).

Last 12 months
2026-08
Product timeline
2014
Sipag payments/acquiring platform launched as a partnership between Banco Sicoob and Cabal.· payments
2022
Sicoob UniMais Rio central cooperative established, representing 13 affiliated cooperatives across multiple Brazilian states.· banking
2023
Sipag 2.0 launched — proprietary acquiring platform for Sicoob cooperatives.· payments
2024
Sipag 2.0 recognized at World Credit Union Conference.· payments
2026
Sicoob + HDI embedded insurance partnership — Seguro Auto Financiado bundles auto financing with auto insurance in a single operation.· insurance
Regulated entities
2
regulatory licences held by Sicoob UniMais Rio
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
Sicoob UniMais Rio was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
Sicoob Credicapital6 layers →Sicoob UniCentro Br4 layers →
The stack
8 layers disclosed in Sicoob UniMais Rio’s embedded-finance stack
Payments / PSP
Sipag (self-operated)Sicoob Pagamentos (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Insurance
in the full report
Sponsor bank
in the full report
Investing
in the full report
Accounting gap: none
18 more providers across 7 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.