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.
