InfinitePay's free-phone-terminal bet wins Brazil: 6.3M sellers, $1.3B run rate

CloudWalk's InfinitePay gives Brazilian micro and small entrepreneurs a free digital account and card payments from any smartphone (Tap to Pay), plus Pix, receivables advances and an embedded AI agent called JIM.

That Brazil's micro-sellers would switch from rented card machines to a free phone-as-terminal app, and AI-driven operations would keep it profitable at scale.

InfinitePay launched in 2019 with about US$2M; since 2021 CloudWalk has raised roughly US$4B through FIDC structured-credit vehicles, including a R$4.2B FIDC in Oct 2025 (Exame) and a US$1.1B issuance in Apr 2026 (LatamList).

CloudWalk was founded in São Paulo by Luis Silva in 2015 and launched InfinitePay in 2019 with about US$2M, betting that the phone could replace the rented terminal and that microentrepreneurs would accept cards if acceptance were free and instant.

InfinitePay grew from 3 million to more than 6.3 million active sellers in 2025 and became Brazil's most-downloaded finance app in December 2025 (4.9 stars, 566,000+ reviews). CloudWalk crossed US$1B annualized revenue in July 2025 and closed 2025 with US$990M revenue (+104% YoY) and US$110M net income on a 720-person team, secured a full credit-institution license from Brazil's central bank, and received a first Fitch rating (AA-(bra)). Funding came mainly through structured credit: about US$4B in FIDC vehicles since 2021, including a R$4.2B FIDC in Oct 2025 and a US$1.1B issuance in Apr 2026 to finance merchant receivables.

Still scaling: as of April 2026 CloudWalk had raised another US$1.1B via FIDC and pushed into the US with JIM.com, while InfinitePay kept adding millions of Brazilian sellers.

The barrier was rental: card machines with monthly fees excluded micro-sellers, and free phone-based acceptance removed it entirely.

Fees aligned with growth: smart fees that fall as volume rises made the product cheaper the more successful the seller became.

AI ran the business: 720 employees served 6.3M sellers at a US$1.3B run rate — an operating model that branch-and-call-center incumbents could not match.

Credit funded growth without dilution: receivables advances backed by roughly US$4B of FIDC issuance since 2021 monetized the merchant base.

Win the smallest customer by removing the rental barrier: free phone-based acceptance plus AI-run operations turns a low-fee product profitable and capital-light — then monetize it with credit.

As of September 2026 CloudWalk is still scaling: InfinitePay serves more than 6.3 million active Brazilian sellers and holds a full credit-institution license with a first Fitch rating (AA-(bra)); CloudWalk closed 2025 at US$990M revenue (+104% YoY) and US$110M net income on 720 employees, and in April 2026 raised another US$1.1B via FIDC to finance merchant receivables. In the United States, JIM.com — launched in early 2025 — reached tens of thousands of merchants across all 50 states within months of launch.