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Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion | Fintech InShorts: Latest fintech news, analysis by experts

Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

BankingBusinessFinTech

1 min.Read

Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

May 25, 2024

Overview:

Acquirer: Spanish paytech PayRetailers.
Target: Transfeera, a Brazilian platform for payment processing and bank data validation.

Details of the Acquisition:

Assets Acquired: Transfeera’s technology, 450 customers, and 62 employees.
Operations: Transfeera will continue normal operations post-acquisition.
Regulatory Approval: Deal subject to approval by the Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil.
Financial Terms: Not disclosed.

Strategic Impact:

PayRetailers’ Objectives:
- Consolidate leadership in Brazil as the largest processor of high-complexity payments.
- Utilize Brazilian payment institution (PI) license received last month.
- Expand market presence and workforce in Brazil, aiming to double it by next year.
Previous M&A Activity:
- Acquired Paygol (Chile) and Pago Digital (Colombia) in April 2022.
- Plans for further acquisitions on other continents to solidify global position in payment methods.

Statements from Executives:

Juan Pablo Jutgla, Founder and CEO of PayRetailers:
- Highlighted the acquisition’s role in enhancing leadership in Brazil and mentioned ongoing global M&A strategy.
Fernando Nunes, Co-founder and CEO of Transfeera:
- Emphasized access to PayRetailers’ expertise in developing and offering banking products.

Company Backgrounds:

PayRetailers: Operates card processing and e-commerce services in over 20 countries across Latin America and Africa.
Transfeera: Founded in 2017, based in Curitiba, offers payment management, processing services, and bank account and Pix key validation.

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