Brazil’s Livelo Grows Into a $1.3bn Rewards Giant

Business Key Facts —The business. Livelo posted R$6.5 billion ($1.27 billion) in revenue last year, up about 10%. —The owners. Livelo is jointly owned by Bradesco and Banco do Brasil, two of the country’s largest banks. —The pivot. Only about 60% of points now go to travel, down from nearly all of them at launch.…