Will Bank
“Can a liquidated Brazilian digital bank wind down 6M+ customer balances cleanly through the FGC guarantee process?”
Founded2017
HQSão Paulo, Brazil
IndustryFintech / Neobank
The story
Will Bank (Will Financeira S.A. – CFI) launched in 2017 as a Brazilian digital bank focused on credit cards, digital accounts and Pix/Open Finance payments aimed at underbanked consumers. By March 2026 the company was placed in extrajudicial liquidation by the Brazilian Central Bank, with the FGC (Fundo Garantidor de Créditos) coordinating advance guarantee payments to roughly 6 million customer-creditors. The business is no longer operating as a going concern; the app's primary function today is the FGC guarantee claim flow.
Product timeline
2017
Founded in São Paulo as a digital bank offering credit cards and digital accounts.· banking
2026
Placed in extrajudicial liquidation; FGC begins guarantee payments to creditors up to R$1,000 via Will Bank app.· pivot
Regulated entities
1
regulatory licence held by Will Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Will Bank’s embedded-finance stack
Banking / BaaS
Will Financeira S.A. – CFI (in-house)
Card issuing
in the full report
Lending
in the full report
Open banking
in the full report
Accounting gap: none
5 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.