Based in Araruama, Rio de Janeiro, Socinal Financeira has been operating in the market for over a decade, initially focusing on microcredit to support underserved entrepreneurial classes. Recognizing the potential for growth and market demand, the company underwent a transformation to become a financial institution authorized by the Central Bank of Brazil in 2008. This allowed Socinal to diversify its offerings and expand into new markets with a range of new products.