Ebury acquires Bexs and expands international payment services in Brazil

Ebury, one of the world’s largest fintech companies specializing in international transactions for Small and Medium Enterprises, with activities in 20 countries, including Greece.

According to the announcement, the acquisition, which is subject to regulatory approval, aims to expand the company’s offer of international money transfer solutions for Small and Medium Enterprises, as well as to provide digital services to companies that sell their products online in Brazil. in niche markets, applications and companies with software products and services.

Bexs technology also facilitates large-scale payments from abroad to Brazil. Bexs Banco also facilitates the opening of accounts in other countries, which allows even small businesses to trade directly in the local currency of each market, without necessarily having to transfer money to the country. Based in Sao Paulo, the Agency has already processed international payments for more than 50 million Brazilian traders. In 2021, it handled over 30 million foreign exchange transactions using the local Pix direct payment method. That same year, total foreign exchange transactions exceeded $ 20 billion.

Sérgio Rial, Chairman of Ebury’s Board of Directors, said: “Bexs is more ‘technology’ than ‘financial’ and excellent at combining global solutions with in-depth know-how in the exchange rate framework. The acquisition by Ebury will provide access to a portfolio of potential customers in other markets. In addition, the unique technology and business model for mass payments can be applied in other countries. The possibilities for cooperation are almost unlimited. ”

Founded in 1989, as Didier Corretora de Câmbio, the Agency in 2010 received authorization from the Central Bank of Brazil to operate as a foreign exchange bank, and began operating under the name Bexs. In 2012, it launched its cross-border e-commerce technology, enabling it to operate in the market and in SaaS (Software as a Service). Almost four years ago, it gained new momentum when it became an API platform, allowing systems to be integrated seamlessly with major players in the digital world, both in Brazil and abroad.

So a small e-commerce company based in China, for example, can sell in Brazil and receive payment directly in dollars or another foreign currency. Alternatively, a social network can leverage the platform to ensure a steady stream of payments to influencers. This is a type of transaction that consists of a large volume of micropayments with currency conversion. In addition, brokerage firms can use the platform to offer their clients the opportunity to invest abroad.

Some of the leading companies in the markets, payments and social networks, as well as brokerage firms and agricultural technology companies, already use Bexs’s services in Brazil.

Under the terms of the deal signed with Ebury, Bexs CEO Luiz Henrique Didier Jr. will continue to run businesses in Brazil. Following regulatory approvals, the foundation will be integrated into the Ebury structure.

Fernando Pierri, Ebury Chief Commercial Officer, said: “We have a presence in 20 countries and Brazil could not be left out. In addition, it serves as our gateway to Latin America. Brazil remains introverted in terms of international The country has signed free trade agreements, including one with the European Union, and is also working to improve exchange rates, which will stimulate demand for foreign exchange and for accounts abroad “.

Finally, Ebury has $ 21 billion a year in business and is headquartered in London, overseeing operations in Europe, Asia, the Middle East and the Americas.