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- RecargaPay
RecargaPay Revenue, Valuation, Funding & Investors
RecargaPay is valued at $215M as of October 2021, a 4.3x multiple on its last reported $50M revenue.
Last RecargaPay valuation
$215M
Series C · Oct 2021
Last RecargaPay funding round
$10M
Series C · Oct 2021
RecargaPay revenue
$50M
Series C · Oct 2021
Key investors in RecargaPay
FJ Labs
DN Capital
ATW Partners
Ventech
Daniel Curran
Fabrice Grinda
About RecargaPay
RecargaPay is a São Paulo-headquartered digital wallet and payments super app serving consumers and SMEs throughout Brazil. Authorized by the Central Bank as a payments institution since 2010, it processes bill payments, mobile recharges, public transport fares, Pix transfers, and installment loans via integrated Open Finance rails.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Usage-based
Revenue
$50M (Oct 2021)
Valuation
$215M (Oct 2021)
RecargaPay Valuation
RecargaPay is currently valued at $215M, based on its Series C in October 2021.
The $10M round was led by IDB Invest, with participation from 8i Ventures.
RecargaPay valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2021 | Series C | $215M | 4.3x |
RecargaPay Revenue
RecargaPay's latest recorded revenue is $50M, as of its Series C in October 2021. At a $215M valuation, that implies a 4.3x revenue multiple.
RecargaPay revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2021 | $50M | $215M | 4.3x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
RecargaPay Funding History
RecargaPay has raised a total of $109M across 4 funding rounds.
RecargaPay's first fundraising round was a $7M Series A in August 2014. The most recent completed round was a $10M Series C in October 2021.
RecargaPay funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2021 | Series C | IDB Invest (lead); 8i Ventures | $10M | $215M | RecargaPay is a Brazilian fintech providing digital payment solutions, including bill payments, mobile top-ups, prepaid cards, and financial services for banked and unbanked users. The company operates a mobile money platform integrated into Brazil's payments and banking ecosystems. On October 28-29, 2021, RecargaPay extended its Series C round by $10 million, led by IDB Invest with $7.5 million in preferred shares, plus $2.5 million from IDC Ventures and Fuel Venture Capital. This topped up the prior $70 million Series C tranche backed by Experian, IDC Ventures, and others, bringing Series C to $80 million and total funding over $110 million. Funds support customer acquisition, product launches like open banking and Pix enhancements, and MSME solutions. |
| Feb 2021 | Series C | Fuel Venture Capital (lead); IDC Ventures (lead); ATW Partners; LUN Partners Group; Experian Ventures | $70M | - | RecargaPay is a Brazil-based mobile payments platform and e-wallet founded in 2010 that simplifies everyday payments for both banked and unbanked customers. The company operates an all-in-one payment ecosystem allowing users to top up prepaid cell phones, make payments, invest, borrow, and earn through a single mobile application. RecargaPay monetizes through a monthly subscription fee of $19.99 Brazilian reals on its Prime+ subscription program and by charging users on individual transactions, while also earning from cell phone carrier commissions that it passes back to users as cashback incentives. On February 24, 2021, RecargaPay announced its Series C funding round of $70 million, co-led by IDC Ventures and Fuel Venture Capital with participation from ATW, LUN Partners, and Experian Ventures. At the time of the round, the company reported a revenue run rate exceeding $50 million USD and was EBITDA positive. The company had raised over $100 million in total capital to date, with subsequent investor participation from development finance institutions including IDB Invest and IFC. RecargaPay planned to deploy Series C proceeds toward expanding its financial services offerings to small businesses and consumers, including further development of its Prime+ subscription program, customer acquisition, and new product launches. The company operated with over 300 full-time employees across offices in Miami, São Paulo, and Buenos Aires at the time of the funding round and served over 10 million Brazilian users. The platform is authorized by the Brazilian Central Bank as a Payment Institution (Instituição de Pagamento) and holds an SCFI license, enabling it to offer a comprehensive suite of regulated financial services including lending products. |
| Feb 2018 | Series B | TheVentureCity (lead); Ventech; DN Capital; ATW Partners; FJ Labs; IFC Venture Capital Group | $22M | - | RecargaPay is a Brazil-based mobile payments platform and digital wallet launched in 2010 that simplifies everyday payments including bill payments, prepaid phone recharges, transport cards, gift cards, and peer-to-peer money transfers for both banked and unbanked consumers, regardless of income or credit score. The company was founded by Rodrigo Teijeiro (CEO), Alvaro Teijeiro, and Gustavo Victorica. In February 2018, RecargaPay raised $22 million in a Series B funding round led by TheVentureCity, with participation from new investors IFC (a member of the World Bank Group), Ventech, entrepreneurs Fabrice Grinda and Martin Varsavsky, over 100 angel investors via AngelList and FundersClub, and existing investors DN Capital and FJ Labs. The funds were intended to expand the team and develop products and technology to improve financial access in Brazil. The International Finance Corporation highlighted RecargaPay's potential to transform retail finance and consumer financial behavior in Brazil by creating customer value, simplifying daily transactions, and reducing living costs. The company operates exclusively in Brazil, addressing the prepaid mobile credit market where many consumers buy airtime from local shops due to low minimum wages. |
| Aug 2014 | Series A | Jose Marin; Daniel Curran; DN Capital; FJ Labs; Fabrice Grinda; Güimar Vaca Sittic | $7M | - | - |
Who has invested in RecargaPay?
16 investors have backed RecargaPay across its funding rounds, including FJ Labs, DN Capital, ATW Partners, Ventech, Daniel Curran and Fabrice Grinda.
Lead investors include IDB Invest, Fuel Venture Capital, IDC Ventures and TheVentureCity.
RecargaPay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2014 | ||
| 2 | Participant | Feb 2018 | ||
| 2 | Participant | Aug 2014 | ||
| 1 | Participant | Aug 2014 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Aug 2014 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Lead | Oct 2021 | ||
| 1 | Participant | Aug 2014 | ||
| 1 | Lead | Feb 2018 | ||
| 1 | Participant | Aug 2014 | ||
| 1 | Participant | Feb 2021 | ||
This data is available for Pro users. Sign up to see all 16 RecargaPay investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialRecargaPay Competitors
RecargaPay competitors include listed companies like Lesaka Technologies and PicPay, and private ones like Ibanera, Cashtopia LLC, FINO PayTech and Baanx Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $195M | - | ||
| Private | - | - | $248M | - | ||
| Private | $23M | - | $128M | 5.6x | ||
| Publicly listed | $722M | $67M | $364M | 0.8x | ||
| Private | - | - | $112M | - | ||
| Publicly listed | $1.2B | $205M | $1.2B | 0.5x |
RecargaPay Public Comps
RecargaPay is still privately-owned, but its public comps include Yeahka, Fast Finance Pay, Fonix, KG Inicis, Amar Bank, First Internet Bank, Instabank, Hecto Financial, DANAL and Tyro Payments.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $494M | $23M | 0.4x | 0.5x | 8.9x | 5.2x | |||
| - | - | - | - | - | - | |||
| $98M | $20M | 2.0x | 1.8x | 9.9x | 8.9x | |||
| $989M | $95M | 0.6x | 0.6x | 5.9x | - | |||
| $100M | - | 2.4x | 2.8x | - | - | |||
| $110M | - | 2.2x | 1.4x | - | - | |||
| $65M | - | 3.8x | 3.0x | - | - | |||
| $136M | $14M | - | - | - | - | |||
This data is available for Pro users. Sign up to see all RecargaPay competitors and their valuation data. Start Free Trial | ||||||||
Common questions about RecargaPay
| When was RecargaPay founded? | RecargaPay was founded in 2010. |
| Where is RecargaPay headquartered? | RecargaPay is headquartered in São Paulo, Brazil. |
| Is RecargaPay publicly listed? | No, RecargaPay is a private, VC-backed company. |
| What is RecargaPay's valuation? | RecargaPay was last valued at $215M in its Series C in October 2021. |
| How much funding has RecargaPay raised? | RecargaPay has raised $109M across 4 funding rounds. |
| What was RecargaPay's last funding round? | RecargaPay's last funding round was a $10M Series C in October 2021, led by IDB Invest. |
| Who are RecargaPay's investors? | RecargaPay's investors include DN Capital, ATW Partners, FJ Labs, Jose Marin, Ventech, Daniel Curran, 8i Ventures, LUN Partners Group, IDB Invest, Fabrice Grinda and 6 others. |
| What is RecargaPay's revenue? | RecargaPay's latest recorded revenue is $50M (October 2021). |
| What is RecargaPay's revenue multiple? | RecargaPay's latest valuation implies a 4.3x revenue multiple ($215M valuation on $50M of revenue). |
| Which companies are comparable to RecargaPay? | Companies comparable to RecargaPay include Ibanera, Cashtopia LLC, FINO PayTech, Lesaka Technologies, Baanx Group and PicPay. |
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