Velotax Raises $25 Million Series A led by QED Investors, Valor Capital, and Picus Capital

Velotax, a leading Brazilian personal finance startup with over 3 million downloads, has completed a Series A funding round of R$125 million (approximately USD 25 million). The round, finalized nine months ago but disclosed recently, drew participation from top-tier international funds such as QED Investors, Valor Capital, and Picus Capital.

These investors have a solid track record in the financial technology sector: QED has backed giants like Nubank, Creditas, and QuintoAndar; Valor Capital has invested in Stone, Coinbase, and CloudWalk; while Picus Capital supports startups such as Caju, Cayena, and Clara.

From Tax Filing to a Complete Financial Platform

Originally known for simplifying income tax declarations, Velotax now aims to become a full-fledged financial ecosystem. Its new offerings will include personal loans, payroll-deductible loans for CLT employees through a federal program, and early tax refund advances, a product introduced in 2024.

The fintech has also been nominated for the 2025 Reclame AQUI Awards in the “Large-Scale Loans” category, a recognition of its growing relevance in Brazil’s financial landscape.

Strengthening the Leadership Team

To sustain its expansion phase, Velotax has announced the appointment of several executives in key areas.

• Karin Thies joins as Credit Director, focusing on risk analysis and management.
• Paulo Almeida takes the role of Commercial Director, leading partnerships and customer relations.
• Régis Ricarte becomes Collection Director, developing recovery strategies.
• Fábio Nestor steps in as Head of Payroll Loans.
• Leandro Pereira assumes the role of Head of Data Analytics.

Upcoming launches include personalized insurance products and affordable financial education courses, all integrated within the app.

Artificial Intelligence Redefining Credit Access

Velotax has developed proprietary AI-based credit risk technology capable of analyzing hundreds of variables beyond traditional credit scores. This innovation allows the company to approve loans for consumers often rejected by conventional institutions.

“AI enables us to look beyond the traditional credit score,” said Victor Savioli, Co-Founder of Velotax. “We evaluate hundreds of variables to provide responsible credit aligned with each user’s real repayment capacity.”

According to company data, before using Velotax, 48.9% of users relied on credit cards and 22.5% on overdrafts for financial needs. After accessing tax refund advances, 36.2% used the funds to pay off overdue debts, while 23.7% covered financial emergencies.

Driving Inclusion in Brazil’s Financial Sector

Velotax’s journey began by simplifying tax filing and refund anticipation, a strategy that helped the startup build a large user base. With backing from investors experienced in scaling Latin American unicorns, the company now accelerates its transition into a super app, combining instant personal loans, payroll lending, personalized insurance, financial education, and debt negotiation.

Brazil’s macroeconomic context favors this expansion. Around 78.4% of Brazilian families are currently in debt, and over half of the population struggles with financial management. Despite a credit market exceeding R$4 trillion and growing at more than 10% annually, it remains dominated by traditional players.

With solid capital and advanced technology, Velotax aims to democratize access to financial services and increase competition in the market. The company projects to multiply its user base by the end of 2026, maintaining its commitment to human-centered service.

“Our mission is to transform the financial lives of millions of Brazilians through technology and innovation,” concluded Savioli.

Velotax’s Series A round represents more than just new capital — it marks a pivotal shift in how technology can reshape financial inclusion in emerging markets. With the support of leading global investors and a clear focus on responsible credit powered by AI, the company is positioning itself at the forefront of Brazil’s fintech evolution. As Velotax continues to expand its services and integrate cutting-edge tools, it reinforces its mission to empower millions of users with smarter, fairer, and more accessible financial solutions.