Tuesday, June 25, 2024
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PayRetailers Acquires Payment Company Transfeera in a Strategic Move to Expand Its Business in Brazil

PayRetailers, one of the leading fintechs in payments in Latin America, announces the acquisition of Transfeera, a regulated payment institution in Brazil. The transaction which is still subject to approval by the Administrative Council for Economic Defense (CADE) and the Central Brank of Brazil is part of PayRetailers’ strategic plan to grow in Brazil – in April, the company received a license from the Central Bank of Brazil to operate as a payment institution (IP). Transfeera will continue to operate its services normally and will become part of the PayRetailers group, upon the closing of the transaction, reinforcing its technological capabilities.

“We have already added some global acquisitions and the time has come to consolidate our leadership in Brazil as the largest processor of high-complexity payments, offering an even wider range of products. We should soon announce new acquisitions on other continents, consolidating our position as a reference in payment methods,” says Juan Pablo Jutgla, founder and CEO of PayRetailers.

Founded in 2017, Transfeera offers platform and technology solutions for payment processing and bank data validation. According to Jutgla, the company from Santa Catarina stands out as a technological and innovative powerhouse in the local scene, in addition to being aligned with the industry’s best practices as an entity supervised by the Central Bank.

Transfeera brings more than 450 new customers and 62 employees, expanding PayRetailers’ structure to 100 employees in Brazil and 550 worldwide, distributed across ten offices.

“As Transfeera, with this move, we gain access to a vast expertise in the development and offering of banking products, which certainly advances us in building competitive advantages against the market. Together, we aim to accelerate our journey of technological innovation, providing the market with innovative, safe, and efficient solutions.”says Fernando Nunes, co-founder and CEO of Transfeera. With the operation, the executive remains in his position, and the company’s operation becomes part of the PayRetailers Group.

The operation was supported by the legal advice of the law firms Pinheiro Neto Advogados and BMA Advogados, while the strategic financial advisory was provided by the companies Royal Park Partneres and RGS Partners (CDI Global Partner in Brazil with collaboration from CDI Global Latin America), each for buyer and sellers respectively.

Operating in more than 20 countries in Latin America and Africa, PayRetailers aims to double its number of employees in Brazil by 2025 and expand its services to Brazilian companies.

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