Leonardo Baptista, CEO and co-founder of Pay4Fun, shared how the company is celebrating its sixth anniversary, consolidating its position as a leader in the payments segment of the iGaming market in Brazil. Baptista expressed his pride in the company's journey, highlighting the priority in offering secure, fast and reliable solutions: "With this focus on security, we have achieved significant milestones, such as integration with more than 500 gambling sites and surpassing 2 million users," he said.

In these six years journey, the company reached several significant milestones, highlighted by Baptista as follows:

• In 2018, Pay4Fun was founded.
• In January 2019, we experienced a growth boom driven by the authorization of sports betting in 2018, increasing the number of merchants from 3 to 20.
• In 2021, Pay4Fun reached the milestone of 500 million reais in financial transactions.
• In July 2022, we received authorization from the Central Bank to operate as a payment institution in the iGaming sector, being a pioneer in this segment in Brazil.
• In October 2022, CEO Leonardo Baptista was named one of the 10 most inspiring by CIO Business Review.
• Also in 2022, we received two awards in the iGaming market as a reference payment institution.
• In April 2023, we received our first GPTW (Great Place to Work) certification.
• In the same month, we obtained the RA 1,000 seal from Reclame Aqui.
• In July 2023, we partnered with the Brazilian Institute for Responsible Gaming (IBJR).
• In September 2023, we ranked 3rd in the Great Place to Work ranking in the small f inancial services companies category.
• In October 2023, we reached the milestone of 500 integrations with betting and entertainment sites.
• In December 2023, we announced a partnership with Cibelae to expand our operations in the lottery sector.
• Also in 2023, we received two more awards in the iGaming market as a reference payment institution.
• The company has also received authorization to process payments for the state lotteries of Paraíba, Brazil.

We asked him about the challenges and how they overcame them during these six years of life, and he recalled that they faced several challenges, and managed to become a reference in the online payment market for betting in Brazil. He then emphasised the consolidation as a payment entity in this market, since six years ago it was unthinkable to talk about betting in Brazil: "We started as a small company and today we are leaders in the online payment sector for betting in the country. Today we are a respected force in the sector, a solid base for further growth."

Baptista explained that the online payments market in Brazil has evolved significantly, both domestically and internationally. In the early days, operators faced difficulties in receiving deposits and paying out winnings, with many transactions being lost or disappearing, leaving players' money trapped without any legal guarantees. "Pay4Fun was born out of the need to provide a secure and efficient payment method for the online gaming market," he said. The company, created and headquartered in Brazil, with Brazilian partners and a publicly available address, has brought transparency and governance to the operation, guaranteeing security to banks, operators and players, always prioritizing personalized service.

"Recently, we have achieved significant milestones in the payments sector, especially with the regulation of gambling in Brazil, which mandates that only institutions authorised by the Central Bank can operate in this segment, providing security and reliability in financial transactions," he added. 

"The latest published Payments Ordinance establishes guidelines to ensure the security and reliability of financial transactions in the sector and is considered a significant step forward for the industry," Baptista noted in relation to the new laws in Brazil.

Looking ahead, Baptista commented that Pay4Fun is planning for even stronger growth in 2024, focusing on establishing new partnerships with gambling sites, launching innovative products and services, and expanding its presence in the Brazilian and international markets.

To conclude the interview, we asked Baptista for his opinion on the recent regulation in Brazil, and he replied: "From the beginning, we anticipated with security measures, and when the regulation arrived in the country, we were already prepared and operating with full security and transparency. The Payments Ordinance and other guidelines provide a more structured environment, which is essential for the sustainable growth of the sector".

As such, Pay4Fun is ready to take advantage of the opportunities that this new regulation brings, further strengthening its position as a leader in iGaming payments.