10.9 C
Monday, April 15, 2024
HomeAIPaytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum

Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum


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


  • 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.

Related stories

UK’s antitrust enforcer sounds the alarm over Big Tech’s grip on GenAI

The U.K.’s competition watchdog, Competition and Markets Authority (CMA),...

ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more

Mimo:Raised £15.5 million led by Northzone. Plans...

Pomelo Group names Steve Vickers as new CEO

New CEO Appointment:Pomelo Group, a payment infrastructure...

Former PayPal chief Dan Schulman joins Valor Capital as managing partner

New Appointment:Dan Schulman, former president and CEO...


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories