Cumbuca
Cumbuca, formerly known as Comadre, is a fintech company based in São Paulo, Brazil, offering a digital group account for shared financial management among families and friends.
Company Overview
Cumbuca is a fintech company headquartered in São Paulo, Brazil. It specializes in providing digital group accounts that cater to joint financial activities such as savings, debt tracking, and bill splitting. The company was launched on August 27, 2021, and is a part of the Y Combinator S21 batch. It operates under the legal name CUMBUCA SERVIÇOS DE TECNOLOGIA LTDA and is authorized by the Central Bank of Brazil to function as a Payment Institution.
Digital Group Account Services
Cumbuca offers a digital group account specifically designed for sharing balances and splitting bills among families, friends, and housemates. Key features include shared savings, debt tracking, and bill splitting for utilities, groceries, and online deliveries. The service supports shared PIX and shared boleto payments and provides a shared card for instant payment splitting. It offers full visibility and security for all group members, ensuring a transparent financial management experience.
Product Features
Cumbuca provides individual accounts with shared balances, enhancing transparency in joint finances. Users can create multiple groups within the app for different spending purposes. The platform supports immediate payment splitting for various expenses such as utilities and rent, ensuring fair financial management. Additionally, the service offers a virtual Cumbuca Card usable across Brazil for direct purchases. The platform also hosts a blog with content on shared finances and financial organization tips.
Seed Investment and Strategic Partnerships
Cumbuca raised R$15 million in a seed investment round led by Lightspeed Venture Partners and Supera Capital. This funding helps the company enhance its service offering and expand its user base. As part of the Y Combinator S21 batch, Cumbuca has strategic support and access to a network of mentors and investors, which further strengthens its market position.
Legal and Regulatory Compliance
Cumbuca operates under the legal framework of Brazil and adheres to regulations set by the Central Bank of Brazil. It is authorized to function as a Payment Institution in the Payment Transaction Initiator modality. The company's payment operations are conducted through CUMBUCA SERVIÇOS DE TECNOLOGIA LTDA and its corresponding entity, CUMBUCA INSTITUIÇÃO DE PAGAMENTO LTDA.
