At a time when promoting quality of life for delivery drivers and ride-hailing drivers is in focus, a Brazilian startup has been standing out in the market precisely for its focus on these informal workers. Trampay, which celebrates four years of operation in 2024, is growing by offering credit, support, and assistance to gig workers – those who provide services in the Gig Economy, businesses based on digital tools.
By the way, Trampay is the first fintech in Brazil focused on gig workers. The gap was identified by the startup's founding partners, Jorge Júnior, the company's CEO, and Tiago Ribeiro, the CPO. "The way the traditional market manages credit does not serve those in the shadows of informality. We want to give these people the opportunities they deserve, such as access to credit, which can transform their lives economically," says Ribeiro.
In this regard, the digital bank for informal workers has already granted more than R$ 200 million in credit. The conditions suitable for these workers' profiles – understanding, for example, the absence of a fixed salary – facilitate the obtaining of loans. One of the main services offered by Trampay is receivables anticipation.
“This allows these professionals to receive their daily earnings in advance, through a loan with below-market rates. This mechanism combats immediate financial precariousness, providing a more stable and less uncertain routine,” explains Trampay’s CPO.
According to him, the average per credit request is R$ 150, with 70% of these loans intended to cover basic needs such as gasoline, food, and overdue bills. The most remarkable thing is that these loans have a zero default rate. Our clients understand the importance of having access to credit, especially because informal workers usually cannot get credit in the market due to the lack of income history.
Based in Brasília, Trampay is present in over 500 municipalities and in 21 states of Brazil. In the first half of 2024, the company doubled its user base and aims to reach 300,000 customers in the coming years. Revenue also saw a significant increase, tripling compared to the same period last year.
For Ribeiro, this growth reflects the social impact generated by the company. We want to be recognized as "the bank of the informal sector" in the country, promoting inclusion and economic development based on three main pillars: income generation, employability, and social uplift.
In addition to financial support, Trampay provides assistance to informal workers. For example, with support points where delivery people and app drivers have access to rest rooms, meeting rooms, lockers, microwaves, refrigerators, phones, and charging outlets for mobile phones. "Our commitment is to provide everything employees need to work and live better," say the founding partners.
The company also targets the international market, with expansion plans for other Latin American countries. "The needs of informal workers in Latin America are similar to those in Brazil. In many countries, they face similar challenges in accessing credit and other financial services. We want to bring our solution to these emerging markets," reveals Ribeiro.
A fundamental milestone was achieved: this year, the startup reached the so-called "breakeven." This occurs when the business's earnings equal its costs and, subsequently, it begins to operate profitably.
“Technology companies take a long time to reach the cash-positive stage. This is important because it means that we have delivered a good business and generated good revenue, which already covers all operating expenses. At this stage, we do not depend exclusively on investment rounds, which proves the sustainability of the business model and financial independence,” explains the CPO.
