Pagaleve Gets Banco Central Approval to Expand Pix Installment Payments
Pagaleve receives Banco Central approval to operate as a payment institution, expanding its Pix installment and BNPL services in Brazil.
Pagaleve, a Brazilian fintech specializing in installment payments through Pix, has received authorization from Brazil’s Central Bank (BC) to operate as a Payment Institution (IP). The regulator published the approval in the Diário Oficial da União (DOU) on September 10.
Pagaleve Expands Its Payment Operations
Under the authorization, Pagaleve will be able to operate as an issuer of post-paid payment instruments and as a Payment Transaction Initiator (ITP).
The approval expands the scope of services the fintech can provide. While Pagaleve already offers installment payments, the authorization allows it to issue a payment instrument through which customers can pay at a later date. It also enables the company to initiate payments at the user's request.
Headquartered in São Paulo, Pagaleve has a share capital of R$171.4 million. Its controlling shareholders are Henrique Eduardo Martins Weaver, Sergio Kulikovsky and Michael Stephen Greer.
The Brazilian operation concentrates the company's Buy Now, Pay Later (BNPL) business, while Pagaleve maintains an international corporate structure.
Pix Installments and BNPL
Founded in 2021 by Henrique Weaver, a former McKinsey, Coca-Cola and Uber executive, and Michael Greer, a former executive at Australian BNPL unicorn Zip, Pagaleve currently offers three installment options.
The first allows customers to pay in four interest-free installments every two weeks through Pix. The second offers monthly installments of up to 12 payments with interest. The third, called "Parcela tudo," allows users to split purchases at any establishment that accepts Pix.
The fintech also uses its own artificial intelligence-based risk analysis and transaction security system. According to the company, the technology results in an approval rate of 70% of transactions.
The system analyzes up to 100 data points related to the purchase and the consumer within three seconds. Based on that information, it determines whether to grant credit through its Pix installment service.
In 2025, Pagaleve processed an annualized Total Payment Volume (TPV) of R$3 billion. For 2026, the company expects to reach R$500 million in revenue by the second half of the year.
Pagaleve Turns to the Market to Finance Growth
As it expands its operations, Pagaleve has also accessed the capital markets to finance its growth.
In October 2025, the fintech completed a R$160 million fundraising round combining equity investment and contributions to the company's Credit Rights Investment Fund (FIDC).
Australian investment manager OF Ventures led the round, while Asian fund Sun Hung Kai & Co acted as co-leader. The financing also included new investors such as Credit Saison and Endeavor Catalyst, as well as 12 existing shareholders.
Following the transaction, Pagaleve reached a valuation close to R$1 billion.
Previous R$250 Million FIDC
The company had previously announced the creation of a R$250 million FIDC in 2024.
At the time, Pagaleve structured the fund with asset manager Kanastra and administrator and custodian Limine DTVM, which was subsequently acquired by Kanastra.
According to the company, the resources were intended to finance the expansion of its BNPL business and the launch of new products.
