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Simplic

“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?”

Founded2014
HQSão Paulo, Brazil
IndustryFintech / Lending
The story

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.

Last 12 months
2024-07
2024-09
2024-10
2025-03
Product timeline
2014
Simplic founded in São Paulo as one of Brazil's first 100% online personal loan platforms.· lending
2021
Embraced Open Banking as it launched in Brazil, publishing educational content and integrating open finance data for credit assessment.· banking
2023
Partnered with Klavi (Open Finance SaaS platform) and co-published an e-book on credit access for Brazil's lower-income classes (C, D, E).· banking
2024
Integrated Klavi's Open Banking connection for bank account verification during loan application flow.· banking
2024
Celebrated 10 years with over R$1 billion in loans disbursed and 14 million registered users.· lending
Regulated entities
1
regulatory licence held by Simplic
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Simplic’s embedded-finance stack
Money movement
Pix
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting gap: none
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.