PayRetailers, a leading player in the global payment processing industry, has announced a significant move to bolster its presence in Brazil through the acquisition of Transfeera, a regulated payment institution based in the country. This strategic acquisition is currently pending approval from the Administrative Council for Economic Defence (CADE) and the Central Bank of Brazil.
PayRetailers Expands in Brazil with Acquisition of Transfeera
Strategic Expansion in Brazil
The acquisition of Transfeera is a key component of PayRetailers’ broader strategy to expand its operations in Brazil. This follows the recent licensure granted by the Central Bank of Brazil, allowing PayRetailers to operate as a payment institution within the country. The move underscores PayRetailers’ commitment to strengthening its foothold in the rapidly growing Brazilian market.
About Transfeera
Founded in 2017, Transfeera has carved out a niche for itself by offering robust platform and technology solutions for payment processing and bank data validation. The company has a solid reputation and a loyal customer base, which will now become part of the PayRetailers ecosystem. The integration of Transfeera’s operations is expected to significantly enhance PayRetailers’ technological capabilities and market reach.
Leadership Comments
Juan Pablo Jutgla, CEO and Founder of PayRetailers, expressed his enthusiasm about the acquisition, stating that the company has already made several global acquisitions and now aims to consolidate its leadership in Brazil as the largest processor of high-complexity payments, offering an even wider range of products. He mentioned that new acquisitions on other continents would soon be announced, further solidifying their position as a key player in payment methods.
Meanwhile, Transfeera’s Co-Founder and CEO, Fernando Nunes, will continue to lead the company post-acquisition. Nunes emphasized the benefits of this integration, highlighting that Transfeera will gain access to extensive expertise in developing and offering banking products, which will enhance their competitive edge in the market. He added that together, they aim to accelerate their journey of technological innovation, providing the market with innovative, safe, and efficient solutions.
Enhanced Technological Capabilities and Workforce
The acquisition will bring over 450 new customers and 62 employees from Transfeera into the PayRetailers fold, expanding its workforce to 100 employees in Brazil and 550 globally. This influx of talent and technology is expected to drive significant improvements in PayRetailers’ service offerings, particularly in high-complexity payment processing.
Legal and Financial Advisory
The acquisition process has been supported by leading legal and financial advisory firms. Pinheiro Neto Advogados and BMA Advogados provided legal counsel, while Royal Park Partners and RGS Partners offered strategic financial advisory services to PayRetailers and the sellers, respectively. This collaboration has ensured a smooth and compliant acquisition process.
Future Expansion Plans
In addition to its aggressive expansion in Brazil, PayRetailers has announced plans to extend its services into Africa. The company aims to begin operations in Tanzania, Rwanda, Uganda, and Zambia, further cementing its status as a global leader in the payment processing industry.
FAQs About PayRetailers Strengthens Presence in Brazil with Acquisition of Transfeera
1. What is PayRetailers?
PayRetailers is a leading global payment processing company that provides a variety of financial services, including high-complexity payment processing solutions.
2. Who is Transfeera?
Transfeera is a regulated payment institution in Brazil, known for its platform and technology solutions for payment processing and bank data validation.
3. Why is PayRetailers acquiring Transfeera?
The acquisition is part of PayRetailers’ strategy to expand its operations in Brazil and enhance its technological capabilities and market reach.
4. What approvals are needed for this acquisition?
The acquisition is subject to approval by the Administrative Council for Economic Defence (CADE) and the Central Bank of Brazil.
5. How will this acquisition benefit PayRetailers?
The acquisition will bring over 450 new customers and 62 employees, enhancing PayRetailers’ technological capabilities and market reach.
6. What are the future plans for PayRetailers?
PayRetailers plans to expand its services into Africa, starting operations in Tanzania, Rwanda, Uganda, and Zambia.
7. Who provided legal and financial advisory for this acquisition?
Legal support was provided by Pinheiro Neto Advogados and BMA Advogados, while strategic financial advisory was given by Royal Park Partners for the buyer and RGS Partners for the sellers.
8. What role will Fernando Nunes play post-acquisition?
Fernando Nunes will continue to lead Transfeera as its Co-Founder and CEO.
9. How will the workforce change post-acquisition?
The acquisition will expand PayRetailers’ workforce to 100 employees in Brazil and 550 globally.
10. What impact will this acquisition have on the market?
The acquisition is expected to significantly enhance PayRetailers’ service offerings and market presence, particularly in high-complexity payment processing.
