Stay Secures $5.7 Million in Latest Funding Round
Stay, a Brazilian fintech company, announced it has raised $5.7 million in an undisclosed funding round led by Citrino. Other investors participating in this round include Norte, 17Sigma, and BTV. Stay specializes in integrating private pension plans, life insurance, financial health services, and long-term incentives to improve employee retention and reduce costs for businesses.
Company Overview
Stay connects companies with insurers to offer private pension plans as part of their employee benefits packages. By providing long-term incentive programs, the company aims to help employers retain talent more effectively. Some of Stay's notable clients include Claro, iFood, Milky Moo, and Hospital de Câncer Araújo Jorge.
Leadership Team
The company was co-founded by Nicolas Frajhof, who serves as COO, Pedro Iglesias, the Chief Revenue Officer, and Tsai Chi-yu, who is the CEO. Together, they have steered the company towards significant growth since its inception.
Expansion Plans
With the new funds, Stay plans to expand its operations within Brazil. The company has significantly increased its assets under management and aims to surpass 100 corporate clients by December 2026. This expansion is part of its broader strategy to enhance its private pension platform and service offerings.
Location
Stay is headquartered in São Paulo, Brazil, at Rua Cardeal Arcoverde 2365.
Use of Funds
According to the company, the newly acquired funds will be utilized to expand its presence in the Brazilian market, enhance its platform capabilities, and increase its corporate client base.
Stay's growth trajectory indicates a promising future for the company as it continues to innovate in the financial services sector.