What is the social or environmental issue being addressed?

In Brazil, only 4% of individual entrepreneurs have access to the financial services a small business needs, such as affordable loans and payment solutions. Banks can be complicated for entrepreneurs to understand and navigate, and offerings are typically expensive and don't meet entrepreneurs' needs. In addition, only 25% of entrepreneurs in Brazil have a Corporate Taxpayer Registry, and therefore overpay for financial services as individuals (or do not use the financial system at all). As a result, many businesses do not succeed.

Innovation:

MEI Facil provides individual entrepreneurs with access to financial services. They first acquire new clients online by helping them obtain a Corporate Registry in less than five minutes, and offering them simplified accounting services for their businesses free of charge. After developing a relationship of trust, MEI Facil then offers clients on-demand financial services, providing easy-to-understand products at very affordable rates. They partner with service providers, but all transactions are performed within MEI Facil’s app to maintain the client relationship.

Read More:

• MEI Facil Participates in MBA Fintech Day
  Segs
  May 27, 2018

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