Brazil's 'WhatsApp Bank' Magie Lands in Peru, Targets Majority Overseas Revenue by 2027

Brazilian fintech Magie expects more than half of its revenue to come from international operations by 2027, and it has already logged over 2 million transactions in Peru just months after launching there in September.

Known as the "WhatsApp bank," Magie lets users make payments and other financial transactions through conversations with artificial intelligence. The company operates in Brazil and Peru, and plans to enter four more countries by the end of next year.

In Peru, Magie closed a partnership with Interbank. The technology allows Interbank customers to make transfers via Plin — an instant payments system similar to Brazil's Pix — plus collections and bill payments, all without leaving WhatsApp.

How big is the business today?

Across all markets, Magie says it has processed R$6 billion in transactions, up from R$2 billion at the start of the year. That is a threefold increase in roughly twelve months.

Founded in 2024, the company sells its technology to financial institutions under a white-label model: customers interact with the partner bank's brand while Magie's AI runs behind the scenes. Magie gets paid per payment transaction — a percentage of the credit value originated — and charges a fixed license fee for its platform, MagieOS.

The model has attracted investors. Magie has raised more than US$10 million from backers including Lux Capital and Canary. The most recent round, US$5 million, was led by Lux in January this year.

Where does Magie go next?

CEO and founder Luiz Ramalho said negotiations to enter Argentina and Colombia are at an advanced stage. The fintech is also in talks with institutions in Central America and with companies operating regionally in the United States. The choice of the next markets, he explained, will depend mainly on the partners Magie finds.

"Bater essa meta será possível graças a um crescimento exponencial aqui no Brasil, com novos parceiros como o Votorantim e outros que ainda estão em fase de testes e, também, graças à exploração da base do Interbank, no Peru," Ramalho said in a statement. In other words: exponential growth in Brazil — with new partners such as Votorantim and others still in testing — plus deeper use of Interbank's customer base in Peru will carry the company to its target.

The numbers give the plan some footing. Peru alone delivered more than 2 million transactions in its first months, and the total volume tripled in under a year. Whether four new markets can land by the end of next year will hinge on the partner pipeline Ramalho describes — and on whether conversational payments keep converting customers as fast in Spanish-speaking markets as they have at home.

By James Calloway