Trampay launched a R$250 million credit fund to lend to delivery workers. The Brazilian fintech built the fund with TAG Investimentos. It targets workers who often struggle to get bank credit.
Loan terms
Eligible workers must have at least six months of platform activity. They can borrow up to R$5,000, capped at 1.5 times their average monthly income. Repayment runs up to six months with monthly interest of 6% to 7%.
Company history
Trampay has served app-based workers for six years. The company says it has originated more than R$200 million in advances on receivables with zero default. It has also processed over R$3 billion in transactions.
How the fund works
The FIDC buys credit rights from personal loans originated by Trampay. Vórtx SCD issues the loans through CCBs, and the fund buys them. Trampay holds subordinated shares that absorb losses first.
Workers can use the loans for maintenance, phone replacement, debt reorganization, or a down payment on a vehicle. The credit line is available directly in the Trampay app. Loans do not require a motorcycle or bike as collateral.
Read more: pipelinevalor.globo.com