Xerpa is a Brazilian HR platform that offers Xerpay, a salary-on-demand product allowing employees to access earned wages instantly. Xerpay is compared to UK-based Wagestream and aims to reduce reliance on overdrafts, payday loans and other high-cost credit in Brazil. The announcement cites Brazil’s high interest rates, poor financial inclusion and that 60% of workers struggle to make their paycheck last the month as rationale for the product. Xerpa positions its origins in HR software as a foundation to expand employee financial-wellness offerings. The company plans to roll out a suite of employee financial wellness products in the coming months. Financially, Xerpa completed a $13M Series B led by Vostok Emerging Finance, which took a minority stake and board seat after investing $8.5M.

Total raised

$13M

Funding rounds

1

Latest round

Series B

Latest activity

Sep 2019