Corporate banking services provider Ebury agreed to purchase API platform Bexs in an undisclosed deal.
The deal includes the acquisition of Bexs Banco and Bexs Pay, the former being a foreign exchange solution and the second surrounding payments. According to Finextra, the move will broaden Ebury’s offering of international money transfer solutions and will expand its international payments offering to Brazil.
As a part of the deal, Bexs will provide digital services to busiensses that sell their products online in Brazil, particularly marketplaces, software firms and applications.
Bexs – founded in 1989 as Didier Corretora de Câmbio – became a foreign exchange bank in 2010 before it launched a cross-border e-commerce technology in 2012, then became an API platform in 2016.
The deal has not closed yet and is subject to customary regulatory approval.
Ebury chairman Sérgio Rial said, “Bexs is more ‘tech’ than ‘fin’, capable of combining globally scalable solutions with in-depth expertise in currency regulation. The acquisition by Ebury will provide access to a portfolio of potential customers across other markets. In addition, its unique technology and business model for massive payments can be replicated in other geographies. The synergy possibilities are almost limitless.”
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