Ebury, one of the world’s largest fintech companies specializing in international transactions for SMEs acquires Brazil’s leading fintech Bexs to expand its international payments offering there
Ebury acquires Bexs. Source: depositphotos.com
Ebury has signed an agreement to begin the process of acquiring 100% of the Brazilian fintech Bexs which includes the businesses Bexs Banco (forex) and Bexs Pay (payments).
The acquisition, which is subject to regulatory approval, aims to broaden the company’s offering of international money transfer solutions for SMEs, as well as to provide digital services to businesses that sell their products online in Brazil, particularly marketplaces, applications, and software companies.
Bexs’ technology also enables large-scale payments from abroad to Brazil. Another synergy between the Brazilian foreign exchange bank and Ebury is the opening of accounts in other countries, which allows even small businesses to transact directly in the local currency of each market, without necessarily having to bring the money into the country.
With its headquarters in S?o Paulo, the institution has already processed international payments (in&out) for more than 50 million Brazilians. In 2021, it handled over 30 million transactions integrating foreign exchange with the local solution Pix (instant payment). In the same year, total foreign exchange transactions exceeded the R$ 20 billion mark.
Under the terms of the agreement signed with Ebury, Bexs’ CEO, Luiz Henrique Didier Jr., will continue to head the operations in Brazil.
Following regulatory approvals, the institution will be integrated into Ebury’s structure. There are numerous synergies to be explored between the Group’s companies, starting with international digital trade.
We’ve reported that PaySpace Magazine accepts PayPal donations to help Ukrainians affected by Russia’s invasion.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
