HomeBankingSpanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

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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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