Guia Bolso (IFC-38020)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 18, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GUIABOLSO FINANCAS CORRESPONDENTE BANCARIO E SERVICOS LTDA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Feb 5, 2016


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Project Description
The proposed project consists in an up to US$4 million equity investment in the Series C Equity Funding Round in Guia Bolso (“Guia Bolso” or “the Company”), a leading Personal Finance Management Application in Brazil to expand their operations that help to increase the competitiveness and transparency of the country’s financial services market.
Investment Description
  • International Finance Corporation (IFC)
The project sponsors are Benjamin Gleason (Founder & Co-CEO), Thiago Alvarez (Founder & Co-CEO) and Inajá Azevedo (Co-Founder & CTO). Benjamin Gleason is the former managing director of Groupon Brazil, former Manager at McKinsey and co-founder of a SAAS payments company. Thiago Alvarez is the former manager at McKinsey focused on retail banking and financial services innovation. Inajá Azevedo has experience in app development and technology group management. He is the former international director of engineering at PlayPhone and has more than 15 years of digital experience. Additional investors include Ribbit Capital,Kaszek Ventures, and QED Investors.
Contact Information
For more information about this project, contact: Benjamin Gleason Founder and CEO Av. Brigadeiro Faria Lima, 1.656 mailto:benjamin@guiabolso.com.br General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/