Aleph acquires majority stake in Argentinian PSP Localpayment
Aleph Holding has picked up a controlling equity interest in Localpayment, an Argentinian payment service provider targeting emerging markets, for an undisclosed sum.
Aleph Holding acquires Localpayment stake
According to a statement by the UK-based investment firm, the payments platform – to be rebranded as Localpayment by Aleph – is expected to process $3 billion in total payment volume (TPV) annually.
It will leverage the purchase to facilitate “an integrated approach to payments and media” for its clients in the advertising industry specifically, for which it will use the platform to process “billions of dollars in payments”.
This combination, according to Aleph CEO Gaston Taratuta, will first be rolled out in Latin America, before similar launches in Africa, the Middle East and Asia are actioned “both organically and via acquisitions”. Taratuta has not disclosed when this proposed expansion would take place.
Based in Buenos Aires, Localpayment specialises in facilitating local transactions for e-commerce businesses and currently operates throughout 17 countries in Latin America.
The platform’s single API supports pay-in and pay-out capabilities in over 640 local payment methods, including card payments, bank transfers, instant and QR code payments, and alternative payment methods, such as Pix in Brazil and Oxx in Mexico.
