FinTech Ebury has acquired Bexs, a Brazilian payments provider, in a move that will increase its international payments offering in Brazil.
The acquisition has been approved by the Central Bank of Brazil and is part of Ebury’s global growth strategy. Following the acquisition, Luiz Henrique Didier Jr. has been appointed Executive Director of Ebury in Brazil.
Ebury is a London-based fintech that provides international payments and cash management solutions to small and medium-sized enterprises.
The acquisition of Bexs will enable Ebury to expand its footprint in Brazil and offer solutions for international e-commerce transactions. Bexs is a Brazilian payments provider that offers services such as cross-border payments, foreign exchange and prepaid cards.
The acquisition of Bexs by Ebury is expected to have a significant impact on the fintech sector in Brazil.
The move will increase competition in the payments industry and could lead to further consolidation in the sector.
The acquisition will also enable Ebury to compete with other international payments providers in Brazil, such as TransferWise and PayPal.
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FinTech Ebury has acquired Brazilian payments provider Bexs to expand its international payments offering in Brazil.
The acquisition has been approved by the Central Bank of Brazil and is part of Ebury’s global growth strategy.
The move is expected to increase competition in the payments industry in Brazil and enable Ebury to compete with other international payments providers in the country.
Details of the Acquisition
London-based FinTech company Ebury has successfully acquired Brazilian fintech Bexs Group, including both Bexs Banco and Bexs Pay, after receiving regulatory approval from the Brazilian Central Bank.
The acquisition is part of Ebury’s strategic plan to expand its footprint in Brazil and increase its presence in Latin America.
Bexs Banco is a foreign exchange bank that specializes in international money transfer solutions,
while Bexs Pay is a payments company that offers large-scale payments from abroad to Brazil. By leveraging Bexs Group’s cross-border e-commerce technology, Ebury aims to onboard 3,000 clients in the country by 2025.
The acquisition will allow Ebury to offer its clients international payments in the local currency and comply with foreign exchange regulations. The company will also be able to provide its clients with a wider range of services, including business transactions in the cross-border segment.
Fernando Pierri, CEO of Ebury, said that the acquisition of Bexs Group is a significant milestone for the company’s growth strategy in Latin America. Luiz Henrique Didier Jr, CEO of Bexs Group, stated that the acquisition will enable the company to expand its services to more clients and provide them with better solutions for their cross-border transactions.
Overall, the acquisition of Bexs Group by Ebury is expected to bring significant benefits to both companies and their clients, as they combine their respective strengths in the foreign exchange and payments sectors.
Impact on the Fintech Sector
Ebury’s acquisition of Bexs is set to have a significant impact on the fintech sector, particularly in Brazil.
The move is expected to reshape the fintech landscape in the country, with Ebury expanding its international payments offering and currency protection services to small and medium-sized businesses (SMEs) in Brazil.
With this acquisition, Ebury is now able to offer solutions for international e-commerce transactions in Brazil, further solidifying its position as a global leader in the fintech industry. The acquisition is also expected to create more opportunities for other fintech companies in Brazil, as the market continues to grow.
The acquisition comes at a time when demand for foreign exchange services is high, particularly in the cross-border e-commerce space.
With more businesses looking to expand their operations globally, there is a growing need for accounts abroad and currency conversion services. Ebury’s acquisition of Bexs will help to meet this demand and provide businesses with a more streamlined and efficient way to manage their international transactions.
The move is also expected to help Ebury expand its presence in Brazil and other Latin American markets. As one of the leaders in the digital e-commerce space, Ebury is well-positioned to take advantage of the growing demand for investment platforms and digital offerings in the region.
Overall, the acquisition is a positive development for the fintech sector in Brazil. It demonstrates the continued growth and expansion of the industry, and highlights the importance of regulatory approvals and compliance with Brazilian regulations.
With more companies like Ebury acquiring local banking licences and integrating with local API platforms, the fintech sector in Brazil is poised for continued growth and success.
Frequently Asked Questions
What is the significance of Ebury’s acquisition of Bexs in Brazil?
Ebury’s acquisition of Bexs is significant because it expands the former’s footprint in Brazil. Bexs is a leading fintech company in Brazil that offers digital services to businesses that sell their products online, making it a valuable addition to Ebury’s portfolio.
This acquisition allows Ebury to provide a wider range of international money transfer solutions to SMEs in Brazil.
How will the acquisition of Bexs help Ebury expand its footprint in Brazil?
The acquisition of Bexs will help Ebury expand its footprint in Brazil by leveraging Bexs’ established network and expertise in the Brazilian fintech industry.
Bexs has a strong presence in Brazil and has built a reputation for providing digital services to businesses that sell their products online.
With this acquisition, Ebury can offer a wider range of services to its clients in Brazil, including international payments, collections, and foreign exchange services.
What are the benefits of the acquisition of Bexs for Ebury?
The acquisition of Bexs provides several benefits for Ebury. It expands Ebury’s footprint in Brazil, allowing the company to offer a wider range of services to its clients in the country. Bexs’ established network and expertise in the Brazilian fintech industry will also help Ebury to establish itself as a major player in the Brazilian market.
Additionally, the acquisition of Bexs provides Ebury with access to a new client base, including businesses that sell their products online.
What challenges may Ebury face in integrating Bexs into its operations in Brazil?
One of the challenges that Ebury may face in integrating Bexs into its operations in Brazil is cultural differences. Ebury is a UK-based company, and it may take time for the company to fully understand the Brazilian market and adapt to local customs and practices.
Additionally, integrating two companies can be a complex process, and Ebury will need to ensure that the integration is smooth and seamless to avoid any disruption to its operations in Brazil.
How will the acquisition impact the competitive landscape of the fintech industry in Brazil?
The acquisition of Bexs by Ebury is likely to have a significant impact on the competitive landscape of the fintech industry in Brazil.
Ebury is a well-established player in the international payments and foreign exchange markets, and its acquisition of Bexs will allow the company to expand its services in Brazil. This will likely increase competition in the Brazilian fintech industry, as other companies seek to compete with Ebury and Bexs in the market.
What is the future outlook for Ebury’s expansion in Brazil following the acquisition of Bexs?
The future outlook for Ebury’s expansion in Brazil following the acquisition of Bexs is positive. The acquisition allows Ebury to expand its footprint in Brazil and offer a wider range of services to its clients in the country.
Additionally, Bexs’ established network and expertise in the Brazilian fintech industry will help Ebury to establish itself as a major player in the market. Overall, the acquisition of Bexs is likely to help Ebury to grow its business in Brazil and strengthen its position in the Brazilian fintech industry.
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