For Immediate Release - Brazil - Inspired on Paytm, Brazilian Celcoin provides utility payments, recharges and others services without the need of a bank!

In spite of having a sophisticated financial environment with advanced technology, Brazil still has a population of more than 50 millions unbanked and under-banked, and 59 millions with bad credit scores. There are up to 5.8 billions transactions and banking correspondents done in bank branches every year in Brazil.

To compete in this huge market against prepaid cards and banks, the startup Celcoin was launched in March, 2016. The new fintech provides utility payments, recharges, P2P transfers and is connected to banks and retail networks where users can make deposits and withdraw money in cash. This app will allow the more than 50 million unbanked and under-banked Brazilians to make their payments, recharges and other transactions in their day-to-day activities by mobile phone without needing a bank.

With more than 70,000 registered users, the startup wants to be a One Stop Shop for frequent and recurrent financial services without the need for a bank. It will democratize access to and improve the quality of financial services through technology.

"The goal is to democratize access to the financial network, without any kind of restriction due to income, negativity or bureaucracy," says Marcelo Franca, the CEO

Many Brazilians shy away from banks because of their long list of requirements. The registration process, the long queues, the minimum deposits required, restrictions on the amounts of and number of time of withdrawals, etc, are just a few things that have made people shy away from banks. With the new fintech you can stay away from the queues and the costs and get discounts! As long as you have a cell phone you can recharge and pay your bills with Celcoin.

Brazil has Latin America’s largest mobile market and is the 6th in number of smartphones worldwide with more than 70 million smartphone users. This means that transactions with Celcoin will be able to cover millions of people within a very short time. With Celcoin, there’s no connection with banks or with card companies, and there’s no monthly fee or membership fee. With the app you can make financial transactions from anywhere and at anytime with few clicks - send money to other phones, pay bills, receive electronic money, recharge, buy games, and other facilities.

"Loved it! This app is great. Celcoin is safe and efficient for every occasion. Congratulations on your work, "says P. Bruno, one of those who has signed up for the service. "Great! For me it's the best recharge application, payment they've invented. Congratulations."

Like Paytm and other e-wallets, Celcoin also started offering bill payments and mobile recharges for all Brazilian utility companies and carriers. Now, the company wants to bring more services and products. The application transforms your mobile phone into a bank and ends the lack of financial services. With Celcoin, those without a bank account will have access to a free tool account on their mobile phone to carry out all the transactions they need. Even those who have bank accounts and continue to suffer from the costs of bank fees and queues to pay bills can switch to Celcoin and have peace of mind.

About Celcoin:
Celcoin was founded in 2015 by an initiative of professionals who built the technology platform of the first Brazilian Bank focused on the networks of banking correspondents. It was created by Marcelo França, former CTO at Lemon Bank, the first financial institution that operates exclusively with Banking Correspondents and was acquired by Banco do Brasil in 2009. The co-founder and CMO is Adriano Meirnho, former CMO at Catho Online and Oppa Design. The company was founded with US$ 700,000 of seed money from the founders and also from angel investors including Michael Esrubilsky and Paypal board member Wences Casares. Both founded together the online brokerage Patagon at Argentina and Lemon Bank at Brazil.

Media Contact:
Adriano Meirinho
E-mail: [email protected]
Website: www.celcoin.com.br