Raízen announced this Monday (17) the creation of the Raízen Financial Services Unit, through the acquisition of Payly Holding and Payly Payment Institution, companies controlled by Cosan, for R$78 million.
In a press release to the market, the company highlights that the Unit will offer convenience and loyalty to end customers and partners, through commercial channels and platforms; proprietary data intelligence and commercial development and fundraising from third parties, enhancing value in the business chain.
“The company’s ecosystem currently consists of a potential volume (GMV) of more than BRL 200 billion, considering the company’s total revenue, serving more than 8,000 service stations, 5,000 B2B customers, 50 million end customers, 17,000 customers in the electric energy segment, 1,500 establishments of proximity and convenience, suppliers and business partners in the sugar and ethanol sector”, he says.
According to Raízen, the acquisition of Payly represents the first step in the development of this Unit, considering that it already provides technology in financial services, being a relevant part of the Shell Box value chain; has a team with solid competence in digital technology solutions and their application in financial products; and already operates regularly as a payment institution, in accordance with the regulations of the Central Bank of Brazil – Bacen.
The acquisition of Payly is subject to approval by the Administrative Council for Economic Defense (Cade), in addition to other conditions precedent common to this type of operation.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
