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Ebury acquires Bexs

Ebury, one of the world’s largest fintech companies specializing in international transactions for SMEs acquires Brazil’s leading fintech Bexs to expand its international payments offering there

Bexs

Ebury acquires Bexs. Source: depositphotos.com

Ebury has signed an agreement to begin the process of acquiring 100% of the Brazilian fintech Bexs which includes the businesses Bexs Banco (forex) and Bexs Pay (payments).

The acquisition, which is subject to regulatory approval, aims to broaden the company’s offering of international money transfer solutions for SMEs, as well as to provide digital services to businesses that sell their products online in Brazil, particularly marketplaces, applications, and software companies.

Bexs’ technology also enables large-scale payments from abroad to Brazil. Another synergy between the Brazilian foreign exchange bank and Ebury is the opening of accounts in other countries, which allows even small businesses to transact directly in the local currency of each market, without necessarily having to bring the money into the country.

With its headquarters in São Paulo, the institution has already processed international payments (in&out) for more than 50 million Brazilians. In 2021, it handled over 30 million transactions integrating foreign exchange with the local solution Pix (instant payment). In the same year, total foreign exchange transactions exceeded the R$ 20 billion mark.

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 limitlessrn
Sérgio Rial, Chairman of the Board of Directors of Ebury

Under the terms of the agreement signed with Ebury, Bexs’ CEO, Luiz Henrique Didier Jr., will continue to head the operations in Brazil.

Following regulatory approvals, the institution will be integrated into Ebury’s structure. There are numerous synergies to be explored between the Group’s companies, starting with international digital trade.

We have a presence in 20 countries, and Brazil could not be left out. Furthermore, it serves as our gateway to Latin America. Brazil remains very closed to foreign trade, but this has been rapidly changing as it seeks to accelerate its internationalization. The country has signed free trade agreements, including one with the European Union, and has also been working to improve its foreign exchange regulations. All this will boost demand for foreign exchange and accounts abroad
Fernando Pierri, Ebury's Chief Commercial Officer

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