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HomeAIPaytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum

Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum

Date:

Matera, a US, and Brazil-based Playtech, has acquired Cinnecta, a Brazilian AI firm, to bring artificial intelligence to instant payments.

Facts

  • Matera, headquartered in Belo Horizonte, Brazil, specializes in instant payments and financial services.
  • Cinnecta, founded in 2013, focuses on data intelligence, helping businesses understand customer behavior and improve customer retention.
  • The acquisition aims to provide Matera’s clients with actionable insights, enabling them to offer customizable products and services.
  • Matera conducted a year-long search with guidance from MIT PhD consultants to select Cinnecta as their AI solution provider.
  • Matera’s goal is to expand Pix in Brazil, connecting retail banks with merchant services to enhance transaction volumes, client retention, and business potential.
  • Existing customer relationships of both firms will remain unchanged, ensuring a smooth integration process.

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