Is BHub a Brazilian bank?

No. BHub operates as a BACEN-authorised payment institution (Instituição de Pagamento) in Brazil — not a full BACEN financial institution. Customer funds are segregated under payment-institution rules but are NOT covered by FGC (Fundo Garantidor de Créditos) deposit insurance. The structural distinction matters: for BR SMBs needing FGC cover, the alternatives are Nubank PJ, Banco Inter Empresas, or C6 Bank (all full BACEN financial institutions with FGC pass-through up to BRL 250K).

What does BHub do that Nubank PJ doesn't?

BHub is structurally an integrated "accounting + banking + payroll + tax-filing" platform — closer to a US Bench equivalent than to a pure neobank. The integrated bookkeeping service handles Simples Nacional + Lucro Presumido + Lucro Real tax regimes; the payroll module routes INSS + FGTS contributions via eSocial; the tax-filing module handles quarterly + annual filings. For BR startups and growth-stage SMBs that want one platform handling business banking + bookkeeping + payroll + tax compliance in one stack, BHub is the structural fit. Nubank PJ is a pure neobank — banking only, no bookkeeping / payroll / tax services. Many BR SMBs run both: BHub for the integrated services + Nubank PJ for the FGC-protected operating-cash leg.

Are BHub balances FGC-protected?

No. BHub holds a BACEN payment-institution licence, not a financial-institution licence. Customer funds are segregated under payment-institution rules — held in segregated accounts at BACEN-licensed banks and ring-fenced from BHub's own balance sheet — but they are NOT covered by FGC. The structural protection regime is real but materially different from FGC deposit insurance: there is no statutory payout window and resolution depends on the underlying credit institution where funds are safeguarded. For BR SMBs needing FGC cover, pair BHub's integrated services with Nubank PJ's FGC-protected operating-cash leg.

What tax regimes does BHub support?

All three major BR tax regimes: Simples Nacional (the simplified regime for SMBs under BRL 4.8M annual revenue), Lucro Presumido (presumed-profit regime for mid-market companies typically BRL 4.8M-78M revenue), and Lucro Real (actual-profit regime for larger or specifically-required companies). The integrated tax-filing module handles quarterly DAS (Simples), monthly DARF + PIS / COFINS / IRPJ / CSLL (Lucro Presumido / Real), and annual filings. BHub's tax-filing depth across regimes is the structural differentiator versus pure neobanks like Nubank PJ — which doesn't offer tax-filing services at all.

How does BHub handle payroll?

BHub's payroll module (folha de pagamento) handles BR-standard payroll computation, INSS (social-security) routing, FGTS (mandatory savings) routing, and IRRF (income-tax withholding) — all routed via eSocial, the unified federal labour / tax / social-security reporting portal. The payroll service is gated to the Pro tier and above (BRL 850/mo) and typically pays for itself when the company has 5+ employees on CLT contracts (the BR standard W-2-equivalent contract structure). For sole-proprietor MEIs or service-contractor-only operations, the payroll module is over-featured.

Can a non-BR business use BHub?

Only with a BR-incorporated entity (CNPJ required). BHub onboards MEI, ME, EPP, LTDA, and SLU entity types — all BR-domiciled legal structures. Non-BR companies looking to operate in Brazil typically incorporate a BR subsidiary first (LTDA is the most common form for foreign-controlled BR entities) and then onboard. The integrated bookkeeping + payroll + tax-filing services apply only to the BR-incorporated entity's BR-side operations — they don't cover cross-border consolidation or non-BR tax regimes.

BHub Review 2026: Brazilian SMB Banking + Bookkeeping + Payroll Platform

Name: BHub Review 2026: Brazilian SMB Banking + Bookkeeping + Payroll Platform
Item: BHub
Rating: 2.2
Author: Stephan Kulik

What BHub is, in 2026

BHub is a Brazilian SMB integrated services platform built specifically for BR-incorporated entities (MEI, ME, EPP, LTDA, SLU) wanting one platform handling business banking + bookkeeping + payroll + tax filing. Founded 2020 in São Paulo; backed by ~$30M of equity funding. Approximately 5,000 BR SMB customers as of 2026 — smaller scale than Nubank PJ (~3M business accounts) but with a structurally distinct integrated-services product surface.

Product surface: BACEN payment-institution business account with PIX + boleto + TED, integrated bookkeeping service covering Simples Nacional + Lucro Presumido + Lucro Real tax regimes, payroll module (folha de pagamento) with INSS / FGTS routing via eSocial, tax-filing service for quarterly DAS / DARF / PIS / COFINS / IRPJ / CSLL and annual filings, Mastercard business debit + virtual cards, and BPO-style dedicated-bookkeeper service tier on Enterprise.

Brazilian SMB BaaS combining banking + accounting + payroll + tax filing. BACEN payment institution — NOT FGC-protected. Closer to a US Bench equivalent than to Nubank PJ.

At a glance

Who BHub is for: Brazilian SMBs and growth-stage startups (LTDA, SLU, ME, EPP) wanting one platform handling business banking + bookkeeping + payroll + tax filing. Particularly fit for BR startups with 5-50 employees on CLT contracts where the payroll module's INSS / FGTS routing pays for the seat economics, and for BR SMBs running Lucro Presumido / Lucro Real tax regimes where the integrated tax filing is structurally valuable.

Who to avoid BHub for: MEIs (microbusiness regime) where the BRL 350/mo entry tier is over-priced versus Nubank PJ's free Conta PJ; SMBs above BRL 50K idle cash needing FGC deposit cover (Nubank PJ or Inter Empresas full-bank licences are the structural alternatives); marketplace-seller-led operations where Mercado Pago Empresas' platform integration is the deciding factor; and BR SMBs that already run Conta Azul / Omie / Tiny ERP separately and don't need an integrated platform.

Safety in one sentence: BHub operates a BACEN payment-institution licence; customer funds are segregated under payment-institution rules and are NOT covered by FGC deposit insurance (Nubank PJ / Banco Inter Empresas / C6 Bank are the structural alternatives for FGC-protected BRL operating cash).

Payment-institution structure & FGC gap

BHub operates a BACEN-authorised Instituição de Pagamento (payment institution) licence in Brazil. This is structurally distinct from full BACEN financial-institution licensees (Nubank PJ's Nu Financeira S.A., Banco Inter, C6 Bank, Banco PAN) which hold deposit-taking authorisation. Payment institutions are authorised to operate payment services, issue stored value (e-money equivalent), and acquire payment-acceptance flows, but NOT to take deposits in the legal sense or lend customer funds.

The customer-protection regime under BACEN payment-institution rules is segregation, not deposit insurance. Customer funds are held in segregated accounts at BACEN-licensed banks, ring-fenced from BHub's own balance sheet. In a BHub insolvency, the segregated balances would be returned to customers under BACEN-supervised resolution. This is materially different from FGC (Fundo Garantidor de Créditos) deposit insurance, which applies to BACEN-licensed financial institutions and provides cover up to BRL 250,000 per institution per holder with a defined payout window.

The same structural pattern applies to Mercado Pago Empresas (BACEN payment institution), Cora, and other BR payment-institution-licensed SMB platforms. For BR SMBs needing FGC-protected operating cash, the structural alternative is a chartered BR bank — Nubank PJ (Nu Financeira S.A.), Banco Inter Empresas, C6 Bank, or Banco PAN.

The integrated bookkeeping + payroll + tax filing services operate under standard BR commercial-services regulations rather than financial supervision. BHub's tax-filing module routes filings through Receita Federal portals; the payroll module routes through eSocial. These services don't create additional regulatory exposure for customer funds — the financial-services regulatory perimeter is the payment-institution licence only.

The fee schedule

Item	Starter (BRL 350)	Pro (BRL 850)	Enterprise (custom)
Monthly fee	BRL 350 (~USD 70)	BRL 850 (~USD 170)	Custom
Business account (PIX + boleto + TED)	✓	✓	✓
Basic bookkeeping	✓	—	—
Full accounting (all tax regimes)	—	✓	✓
Payroll (INSS / FGTS / IRRF via eSocial)	—	✓	✓
Tax filing (DAS / DARF / IRPJ / CSLL)	—	✓	✓
Dedicated BPO bookkeeper	—	—	✓
Mastercard business debit + virtual	✓	✓	✓
API access	Read	Read + write	Read + write

The pricing inflection is around the Pro tier — for any BR SMB with 5+ CLT employees or running Lucro Presumido / Lucro Real, the BRL 850/mo Pro tier pays for itself versus separately contracting a Steuerberater-equivalent (BR Contador) for bookkeeping + payroll services (which typically runs BRL 1,500-3,500/mo). The Starter tier at BRL 350/mo is structurally over-priced for MEIs (Nubank PJ free Conta PJ + a basic Contador relationship is cheaper) and under-featured for full-accounting needs.

Hands-on notes

Onboarding for a BR LTDA or SLU clears in 2-5 business days. Required documents: CNPJ (Receita Federal company registration), Contrato Social (articles of incorporation), identity verification for each partner with 25%+ ownership, and the company's existing accounting / payroll history (BHub's bookkeeping team needs prior-period data to set up the ongoing service correctly). MEI onboarding is faster but less common — MEIs typically don't justify the BRL 350/mo entry tier.

The integrated services are BHub's structural strength. The bookkeeping team handles ongoing accounting entries from the bank-feed + uploaded receipts + invoicing flows; tax-filing happens quarterly (DAS for Simples, DARF + IRPJ + CSLL for Lucro Presumido / Real) and annually (DEFIS for Simples, ECF for Lucro Real). The payroll module integrates with eSocial for the unified federal labour / tax / social-security reporting, handling CLT contract setup, monthly payroll computation, INSS + FGTS routing, and 13th-salary + vacation-pay calculations.

Friction points: customer-support quality varies by tier — Starter tier is chat-only with variable response time; Pro tier adds priority routing; Enterprise tier ships a dedicated BPO bookkeeper. The integrated services depend on the customer providing complete + timely upstream data (receipt uploads, payroll changes, contract signings); incomplete data delays month-end close. International-payment surface is limited — for material non-BRL flows, stack a separate corresponding-bank relationship. The API surface is shallower than Nubank PJ — engineering-led startups building automated finance workflows often pair BHub's services-tier with Nubank PJ's deeper API for operational integrations.

Plan & tier comparison

Feature	Starter	Pro	Enterprise
Monthly	BRL 350	BRL 850	Custom
Bookkeeping	Basic	Full (all regimes)	Full + dedicated BPO
Payroll module	—	✓	✓
Tax filing	—	✓	✓
BACEN payment-institution account	✓	✓	✓
Multi-user roles	Limited	Full	Full
API access	Read	Read + write	Read + write

Caveats

NOT FGC-protected. BACEN payment-institution licence — funds segregated, not deposit-insured. For FGC cover, pair with Nubank PJ or Banco Inter Empresas.

Not free. BRL 350/mo entry tier excludes MEIs (Nubank PJ free Conta PJ fits there). Under-featured at entry tier — full integrated services start at BRL 850/mo Pro.

BR-only. CNPJ required. International-payment surface limited; non-BRL flows stack a separate corresponding-bank relationship.

Smaller scale than Nubank PJ. ~5,000 customers vs Nubank PJ's ~3M business accounts. Smaller community + shared-knowledge resources.

Integrated services depend on upstream data. Incomplete or late receipt uploads / payroll changes / contract signings delay month-end close. The integrated-platform value compounds with disciplined operational hygiene.

BHub vs. Nubank PJ vs. Cora

BHub vs. Nubank PJ. Nubank PJ is a pure full-bank neobank (BACEN financial institution, FGC-protected, free Conta PJ). BHub is an integrated services platform (BACEN payment institution, no FGC, BRL 350-850/mo) combining banking + bookkeeping + payroll + tax filing. For pure operating-cash banking with FGC cover, Nubank PJ. For BR SMBs wanting bookkeeping + payroll + tax filing in the same platform, BHub. Many BR SMBs run both — BHub for integrated services, Nubank PJ for FGC-protected operating cash.

BHub vs. Cora. Cora is another BR payment-institution-licensed SMB neobank (no FGC), positioned more as a free / low-cost banking-first product without the integrated bookkeeping / payroll layer. For BR SMBs wanting low-cost payment-institution banking without integrated services, Cora. For BR SMBs wanting the integrated services bundle, BHub. Both lack FGC cover that Nubank PJ provides.

FAQ

Is BHub a Brazilian bank?: No. BACEN payment institution, not a full BACEN financial institution. Customer funds segregated under payment-institution rules, NOT FGC-protected.
What does BHub do that Nubank PJ doesn't?: Integrated bookkeeping + payroll + tax filing across all BR tax regimes (Simples / Lucro Presumido / Lucro Real). Nubank PJ is banking-only.
Are BHub balances FGC-protected?: No. Payment-institution licence only. For FGC cover up to BRL 250K, pair with Nubank PJ / Banco Inter Empresas / C6 Bank.
What tax regimes does BHub support?: All three major BR regimes — Simples Nacional, Lucro Presumido, Lucro Real. Quarterly + annual filings handled in-platform on Pro tier and above.
How does BHub handle payroll?: BR-standard payroll computation + INSS / FGTS / IRRF routing via eSocial. Pro tier and above. Pays for itself with 5+ CLT employees.
Can a non-BR business use BHub?: Only with BR-incorporated entity (CNPJ required). Non-BR companies typically incorporate a BR LTDA subsidiary first.

Who BHub is for

Use BHub if you run a BR-incorporated SMB or growth-stage startup (LTDA, SLU, ME, EPP) and want one platform handling business banking + Simples Nacional / Lucro Presumido / Lucro Real bookkeeping + INSS / FGTS payroll + tax filing. The structural fit is BR startups with 5-50 CLT employees where the payroll module's eSocial routing pays for the seat economics, and BR SMBs running Lucro Presumido / Lucro Real where the integrated tax filing is structurally valuable.

Use Nubank PJ if you want a free FGC-protected operating account with CDI-linked yield (Caixinhas) and Nu Invest CDB / LCI / LCA access — Nubank PJ is the pure-banking alternative without integrated services. Use Mercado Pago Empresas if your operating shape is marketplace-seller-led. Use a chartered legacy BR bank (Itaú Empresas, Bradesco PJ, Banco do Brasil PJ) if you need deeper treasury-management / commercial-credit / mortgage product depth. Pair BHub with Nubank PJ for the typical pattern — BHub for integrated services, Nubank PJ for FGC-protected operating cash.

References

Primary-source list, with capture date 2026-05-18. BHub's pricing, licence scope, and integrated-services offering shift across quarters; verify against the source URLs at decision time.

Risk warning Banco Central do Brasil disclosure

IPMP (Instituições de Pagamento) customer funds are segregated from the institution's own balance sheet but are NOT FGC-protected. Verify the licence class with Banco Central do Brasil before assuming deposit cover. Crypto and investing products are regulated separately by CVM.

Premium plans

Our pick

Starter

€350 /mo

BRL 350/mo (~USD 70) — business account + basic bookkeeping

Pro

€850 /mo

BRL 850/mo (~USD 170) — full accounting + payroll + tax filing

Enterprise

€0 /mo

Custom — dedicated BPO bookkeeper + advanced workflows

How it stacks up.

Banco Inter 76

BACEN

Brazilian full-bank digital pivot success story (since 2015). ~33M customers across Conta + Inter Invest + Inter Shop. Public on NASDAQ: INTR (formerly B3). Inter Shop (cashback marketplace) is a unique super-app feature in Brazilian neobanking.

Nequi 75

Colombia

Bancolombia's digital banking arm — Colombia's largest neobank by user count (~17M). Operates under the Bancolombia full-bank licence; FOGAFIN cover applies. Mass-market reach + Bancolombia ATM network. The default Colombian neobank for COP-resident readers.

Banco PAN 75