Business

Fintechs turn their attention to Brazil’s entrepreneurs

Fintechs turn their attention to Brazil's entrepreneurs

Becoming a business owner has its trials, which Brazilians have found out that the hard way, becoming entrepreneurs amid the worst economic crisis in the country’s history. Apart from finding clients and dealing with Brazil’s notorious bureaucracy, they also realized that doing their finances would not be easy. And this is precisely where fintechs have spotted an opportunity.

For many of those entrepreneurs, the journey starts with MEI, a simpler tax system for individual entrepreneurs that earn up to BRL 81,000 per year. By adopting it, small business owners are given a corporate tax ID and may...

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