Brazil’s FinTech landscape reshaped: Ebury takes over Bexs Group

Brazil's FinTech landscape reshaped: Ebury takes over Bexs Group

Ebury, the global FinTech giant, proudly declares its successful acquisition of Bexs Group. The Central Bank of Brazil has given the green light to this strategic partnership, which encapsulates both Bexs Banco, specialising in foreign exchange, and Bexs Pay, a name synonymous with payments.

The two powerhouses are now set to delve into enhancing integration procedures, all the while focusing on rolling out innovative products for the burgeoning Brazilian market.

Ebury stands as a beacon in the FinTech world, offering international accounts designed to empower Brazilian companies to tread confidently on global stages. Its impressive global workforce of 1,700 spans across a staggering 38 offices in 25 countries. On the other side, Bexs Group shines in its offerings with Bexs Banco driving foreign exchange solutions and Bexs Pay streamlining payments.

This acquisition sets the stage for Ebury to magnify its international money transfer solutions tailored for SMEs. Moreover, it’s gearing up to supercharge its digital repertoire for online businesses in Brazil. Ebury’s vision of facilitating large-scale payments from overseas to Brazil will harness the technological prowess of Bexs Group. The ambitious FinTech aims to bring a whopping 3,000 clients under its wing by 2025.

Latin America holds a special place in Ebury’s global growth narrative. This acquisition amplifies its footprint in the region, echoing its commitment to facilitating fluid financial and commercial transactions between Brazil and the rest of the world. These revolutionary solutions are not only in perfect harmony with Brazilian regulations but also act as a game-changer for local businesses, especially the SMEs striving to make their mark internationally.

In the aftermath of this acquisition, Bexs Group will dawn a new identity as Ebury Bank in Brazil. Blessed with a local banking licence for FX services, it stands poised to deliver a comprehensive spectrum of FX and international payment products to its ever-growing clientele.

Ebury’s ED in Brazil, Luiz Henrique Didier Jr., said, “This approval means we can now accelerate Brazil’s connection with the world’s key economic regions. We are excited to expand our offering for SMEs in Brazil operating in international trade and strengthen our position as leaders in meeting the needs of digital e-commerce, investment platforms and other companies operating in the cross-border segment.”

Further adding to the conversation, Ebury’s Global Chief Commercial Officer, Fernando Pierri, stated, “This acquisition opens up huge potential for Ebury to offer new foreign exchange services for Brazilian companies and to integrate payment solutions into global marketplace platforms. The international payments world still has many friction points and we will continue to innovate to bring forward solutions to improve the experience of these services.”

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