AGI

Payroll‑deductible lending in Brazil operates under policy caps and administrative guardrails, limiting headline pricing flexibility.

Agi’s path to higher unit economics is mix‑ and efficiency‑driven: shift toward secured payroll credit and subscription services (Agi+) with targeted ~80 percent contribution margins, reduce funding costs as ratings and scale improve, and leverage data to lower cost of risk.

Regulatory changes can alter allowed rates or fees, and consumer‑protection moves (e.g., around card‑based consignado) add friction. Net: modest pricing power with room to expand margins indirectly.