PayRetailers strengthens its presence in Brazil by acquiring the payment institution Transfeera, aiming to enhance its technological capabilities and expand its customer base.
PayRetailers Acquires Transfeera to Strengthen Brazilian Market Presence
PayRetailers, a prominent fintech company in Latin America, has announced its acquisition of Transfeera, a regulated payment institution in Brazil. This acquisition, pending approval from the Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil, aligns with PayRetailers’ strategy to expand in Brazil. The company recently received a license from the Central Bank of Brazil to operate as a payment institution (IP). Transfeera will continue its operations and will integrate into the PayRetailers group, enhancing its technological capabilities.
“We have made several global acquisitions, and now it’s time to solidify our leadership in Brazil as a major processor of complex payments, offering a broader range of products. We plan to announce more acquisitions on other continents soon, establishing our position as a reference in payment methods,” stated Juan Pablo Jutgla, founder and CEO of PayRetailers.
Founded in 2017, Transfeera provides platform and technology solutions for payment processing and bank data validation. According to Jutgla, the company from Santa Catarina is recognized for its technological innovation and adherence to industry best practices as supervised by the Central Bank.
Transfeera brings over 450 new customers and 62 employees, increasing PayRetailers’ workforce to 100 employees in Brazil and 550 globally across ten offices.
“With this acquisition, Transfeera gains access to extensive expertise in developing and offering banking products, enhancing our competitive edge in the market. Together, we aim to accelerate technological innovation, offering the market innovative, safe, and efficient solutions,” said Fernando Nunes, co-founder and CEO of Transfeera. Nunes will continue in his role, and Transfeera’s operations will be integrated into the PayRetailers Group.
The acquisition was facilitated by legal advisors from Pinheiro Neto Advogados and BMA Advogados, with strategic financial advice provided by Royal Park Partners and RGS Partners (CDI Global Partner in Brazil, in collaboration with CDI Global Latin America).
Operating in over 20 countries in Latin America and Africa, PayRetailers plans to double its workforce in Brazil by 2025 and expand its services to Brazilian companies.
About PayRetailers
Founded in 2017, PayRetailers is a global leader in payment processing across Latin America and Africa. The company offers comprehensive solutions for e-commerce, managing international transactions without the need for a local entity. Through a single API, an advanced technology platform, and commercial agreements, PayRetailers provides access to over 250 local payment methods. Its flexible and scalable technological architecture allows rapid innovation to meet the demands of evolving markets. For more information, visit PayRetailers.
