Cora
SMB banking for Brazilian PJs.
- Who holds it
- A licensed payment institution holds your balance in a safeguarding account — SCFI license (Central Bank of Brazil, Jul 2024) + payment institution; formerly SCD.
- The ledger
- The payment institution’s own ledger.
- If it fails
- Safeguarded funds are returned in administration — ring-fenced, but access can be frozen and slow.
Derived from Cora’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · SMB & startups |
| HQ | São Paulo, BR |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Payment institution |
| License detail | SCFI license (Central Bank of Brazil, Jul 2024) + payment institution; formerly SCD |
| Card | Visa · Business debit |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Latin America |
| Founders | Igor Senra, Leo Mendes |
| Funding | ~$200M raised |
Verified links: official site ↗
Common questions about Cora
What is Cora?
Cora is a fiat neobank built for SMB & startups, headquartered in São Paulo, BR and founded in 2019. Your money is held custodially, so Cora or its partner bank holds the balance and you hold a claim on it. It is regulated as a payment institution (SCFI license (Central Bank of Brazil, Jul 2024) + payment institution; formerly SCD).
Does Cora have a card, and where can you use it?
It issues a Visa business debit card. It is available in Latin America.
Does Cora require KYC?
Yes. Cora requires identity verification (KYC) to open an account, as a payment institution.
Early investors
Peers
Wise · Nubank · Banco Inter · PicPay · PagBank · Nequi
Cora appears in
Neobanks authorised as payment institutions (13) · Neobanks available in Latin America (113) · Neobanks for small businesses and startups (33) · Neobanks that issue a Visa card (182) · Neobanks in Brazil (11)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.