Will Bank is a digital bank created in 2017 and has been part of the Banco Master conglomerate since the beginning of 2024. After a period in which it operated under a special temporary administration regime.
The bank was created with the proposal to expand financial inclusion, offering products such as credit cards with no annual fee for customers outside the traditional banking system. Will gained traction mainly in the Northeast and reached around 9 million customers last year.
Purchase by Master
Will Bank was acquired by Banco Master in early 2024. At the time, the fintech had around 6 million customers and had recorded revenue of R$2.8 billion in the previous year. According to data from the Central Bank, the bank ended the first half of the year with R$14.4 billion in assets, a loss of R$244.7 million and net worth of around R$300 million.
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Most recent data from the BC indicates that the bank closed the third quarter of 2025 with a net profit of R$408.3 million, despite a recent history of asset deterioration.
Preservation after Master liquidation
When the Central Bank decreed the extrajudicial liquidation of Banco Master, on November 18, 2025, . In the regulator’s assessment, there were interested in acquiring the digital bank, which would allow it to be kept under a special temporary administration regime for up to 120 days.
The expectation was that an eventual sale of Will would help reduce Master’s liabilities and FGC’s losses. During this period, the bank continued operating while the intervener looked for alternatives in the market. Negotiations, however, progressed slowly and did not result in an agreement.
According to newspapers, names such as presenter Luciano Huck and Mubadala Capital evaluated the purchase of the fintech, but the negotiations did not progress.
Operating pressure
Prior to the official announcement of the settlement, Mastercard suspended acceptance of transactions made with cards issued by Will Bank, after the bank failed to honor payments to card arrangement participants. The measure aimed to prevent the increase in financial exposure.
The brand also executed guarantees linked to Will Bank debts and started to hold relevant stakes in the retailer Westwing and BRB.
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With the absence of a sale and the worsening of the financial and operational situation, the Central Bank decided to liquidate Will Bank extrajudicially. Under this regime, the institution’s operation is interrupted and it is removed from the national financial system.
