Strategic Expansion into Brazil
PayRetailers, a prominent player in the payment processing industry, has recently announced the acquisition of Transfeera, a regulated payment institution based in Brazil. This strategic move aligns with PayRetailers’ broader plan to enhance its operations in Brazil. The acquisition is currently pending approval from the Administrative Council for Economic Defence (CADE) and the Central Bank of Brazil, marking a significant milestone in PayRetailers’ expansion journey.
Background and Significance
PayRetailers has been on a steady growth trajectory, and this acquisition is a testament to its commitment to solidifying its presence in the Brazilian market. Having recently obtained a license from the Central Bank of Brazil to operate as a payment institution, PayRetailers is poised to leverage Transfeera’s technological capabilities and customer base to further its growth.
About Transfeera
Founded in 2017, Transfeera has established itself as a key player in providing platform and technology solutions for payment processing and bank data validation. The company will continue its operations as part of the PayRetailers group, contributing to the enhancement of PayRetailers’ technological infrastructure.
Fernando Nunes, Co-Founder and CEO of Transfeera, will maintain his leadership role post-acquisition. Nunes emphasized the strategic benefits of this acquisition, noting that it will allow Transfeera to access PayRetailers’ extensive expertise in banking products, thus accelerating their journey of technological innovation.
Integration and Workforce Expansion
The integration of Transfeera into PayRetailers will bring over 450 new customers and 62 employees into the fold, expanding PayRetailers’ workforce to 100 employees in Brazil and 550 globally. This integration is expected to significantly boost PayRetailers’ technological capabilities and service offerings.
Juan Pablo Jutgla, CEO and Founder of PayRetailers, expressed his enthusiasm about the acquisition, stating, “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.”
Legal and Financial Support
The acquisition process has been meticulously supported by legal and financial advisors. Pinheiro Neto Advogados and BMA Advogados provided legal counsel, while Royal Park Partners and RGS Partners offered strategic financial advisory services to the buyer and sellers, respectively. This robust support system underscores the strategic importance and complexity of the acquisition.
Future Plans and Global Expansion
In addition to the acquisition of Transfeera, PayRetailers has outlined ambitious plans for further expansion. The company aims to extend its services into Africa, with operations set to begin in Tanzania, Rwanda, Uganda, and Zambia. This move aligns with PayRetailers’ vision of becoming a global leader in payment processing.
Currently, PayRetailers operates in over 20 countries across Latin America and Africa. The company aims to double its number of employees in Brazil by 2025, reflecting its commitment to growth and market expansion.
The acquisition of Transfeera marks a pivotal moment in PayRetailers’ expansion strategy. By integrating Transfeera’s technological solutions and customer base, PayRetailers is well-positioned to enhance its service offerings and consolidate its leadership in the Brazilian payment processing market. With ambitious plans for global expansion, PayRetailers is on a path to becoming a dominant force in the industry.