, Brazil’s latest fintech targeting the unbanked, raises $5.5M, a Brazilian neobank, announced a $5.5 million Series A led by Union Square Ventures (USV), TechCrunch reports.

The company, founded by serial entrepreneur Brad Liebmann, follows the founder’s $480 million exit of Simply Business, which was acquired by U.S. insurance giant Travelers in 2017.

Unlike many fintechs, has a strong social mission and pays commissions for referrals that last for the customer’s lifetime. 

Read more: TechCrunch