Airfox names former HSBC and PayPal Executive Gustavo Ribeiro as new president for Brazil

Fintech firm, which launched in Brazil in February, appoints Ribeiro with aim of helping the company experience further growth in Brazil and Latin America

11 July 2018 — Mobile financial services firm Airfox today announced the appointment of Gustavo Ribeiro as its new president for Brazil. A former senior director at UOL’s PagSeguro and vice-president at HSBC Card Services, Ribeiro will lead the Brazil division of the Boston-based fintech company.

“I am very proud and honoured to be joining Airfox,” said Ribeiro. “The company has been making great steps forward since launching in Brazil in February, being well positioned for growth. With my experience and involvement, I look forward to helping Airfox continue to grow further in Brazil and the wider Latin American region.”

Founded by Victor Santos, Boston-based Airfox provides millions of citizens without bank accounts unprecedented access to much-needed financial solutions, including loans, payments and transfer for users, all through their smartphones. Because Airfox’s platform is built on the blockchain, the company is able to offer vastly more affordable rates than traditional establishments.

Ribeiro joins Airfox after a career spent working with some of the leading fintech companies in the world, including HSBC, PayPal, and PagSeguro. At PagSeguro he supervised product development, marketing and sales, risk, operations and customer service, and at PayPal he was responsible for creating, testing and rolling out compelling value propositions around low cost payment methods such as ACH, in-house credit products and PayPal balance. At HSBC he was in charge of leading Marketing, Risk and Finance teams in the development of a subprime credit card in the United States to cater to the lower income socioeconomic demographic. He holds an MBA from Northwestern University’s Kellogg School of Management and holds a B.S. in Chemical Engineering degree from UniCamp.

“We are delighted to bring Gustavo onboard with us at Airfox,” said Santos, who was named on Forbes magazine’s list of 30 Under 30. “His mixture of experience and enthusiasm — not to mention his understanding of the Brazilian market — is perfect for what we are aiming to achieve and we are all looking forward to working together for many years.”

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About Airfox:

Airfox is on a mission to provide the more than two billion unbanked people in emerging markets with mobile access to capital and financial services. The Airfox app, available on Android, eliminates the need for traditional financial institutions and enables unbanked users without credit to access capital and loans via their mobile phone. With the app, users — segmented into low-risk or high-risk groups — can make purchases and apply for and receive microloans. The Airfox lending platform matches lenders around the world to borrowers in developing countries using AirTokens (AIR), an ERC-20 token built on the Ethereum blockchain. Airfox has offices in Boston, São Paulo, and San Francisco. To learn more about the future of banking, visit