Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion
Spanish paytech PayRetailers is set to acquire Transfeera, a platform and technology solutions provider for payment processing and bank data validation, to expand its presence in Brazil.
PayRetailers to acquire Transfeera in Brazil
The transaction will see Transfeera’s technology, 450 customers and 62 employees become part of the PayRetailers group. Transfeera says it will “continue to operate its services normally” upon completion of the deal.
Financial terms of the deal have not been disclosed, and the move remains subject to the approval of the Administrative Council for Economic Defense (CADE) and the Central Brank of Brazil.
For PayRetailers, which received its Brazilian payment institution (PI) licence last month, the acquisition of Transfeera will “consolidate our leadership in Brazil as the largest processor of high-complexity payments”, according to founder and CEO, Juan Pablo Jutgla.
The paytech currently operates card processing and e-commerce services across more than 20 countries in Latin America and Africa, and is actively seeking to double its Brazilian workforce by next year while expanding its market presence.
Its M&A strategy previously saw it acquire Paygol and Pago Digital, two online payment platforms based in Chile and Colombia respectively, in April 2022. “We should soon announce new acquisitions on other continents, consolidating our position as a reference in payment methods,” claims Jutgla.
PayRetailers’ latest purchase, based in Curitiba, has provided payment management and processing services, as well as services for bank account and Pix key validation, since its founding in 2017.
Fernando Nunes, co-founder and CEO of Transfeera, says the company will “gain access to vast expertise in the development and offering of banking products” as a result of its acquisition.
