“Can a Brazilian banking-correspondent fintech become the dominant online personal-loan gateway for the country's underserved lower-income population by leveraging Open Finance data?”
Founded in 2014 as an early Brazilian fintech offering 100% online personal loans, Simplic operates as a licensed banking correspondent (correspondente bancário) under Banco Central do Brasil rules — not a bank itself. It facilitates loan origination on behalf of partner financial institutions, most recently disclosed as Banco Afinz S/A (formerly Sorocred). Over time, it embraced Open Finance/Open Banking infrastructure to improve credit scoring for underserved Brazilians in socioeconomic classes C, D, and E, partnering with Klavi as its open banking data provider.
Simplic discloses Banco Afinz S/A Banco Múltiplo as its sponsor bank, according to the Embedded Finance Index 2026.
Simplic does not disclose a bank charter of its own; its banking services are provided through Banco Afinz S/A Banco Múltiplo.
Simplic moves money over Pix.
Simplic connects to bank accounts through Klavi.
The Embedded Finance Index 2026 maps 4 layers in Simplic's stack: Money movement (Pix); Lending (Empréstimo Pessoal Online (Personal Loan) and Empréstimo para Negativado (Loan for negative-credit borrowers)); Open banking (Klavi); Sponsor bank (Banco Afinz S/A Banco Múltiplo).
Simplic is founded in 2014 and headquartered in São Paulo, Brazil.
Get a read on where your own stack stands against Simplic 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.