Bexs Group will be branded as Ebury Bank in Brazil, as the company holds a local banking licence concerning FX services
Ebury provides international accounts for companies in Brazil. (Credit: Ebury Partners UK Ltd.)
Ebury, the global financial technology company, is delighted to announce that the Central Bank of Brazil has approved its acquisition of Bexs Group, including both Bexs Banco (foreign exchange) and Bexs Pay (payments). Now, both companies will work to advance the integration procedures and efforts to accelerate the launch new products in the Brazilian market.
Luiz Henrique Didier Jr (previously CEO of Bexs Group) has been signed as ED of Ebury in Brazil to lead the business in this region.
The acquisition will broaden Ebury’s offering of international money transfer solutions for SMEs and amplify its digital offerings to online businesses in Brazil, particularly marketplaces, investment applications, and software companies. Ebury will enable large-scale payments from abroad to Brazil by leveraging Bexs Group’s technology. The company aims to onboard 3,000 clients in the country by 2025.
Increasing its presence in Latin America is a key aspect of Ebury’s global growth strategy, with the company currently employing more than 1,700 employees across 38 global offices in 25 countries.
This will facilitate financial and commercial operations between Brazil and the world. The solutions conceived also comply with the Brazilian regulations and are an important step for the globalisation of companies based in the country, especially small and midsized companies that have difficulties tapping into international markets.
Luiz Henrique Didier Jr., ED of Ebury in Brazil, commented: “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.”
Fernando Pierri, Global Chief Commercial Officer of Ebury, added. “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.”
Following the acquisition, Bexs Group will be branded as Ebury Bank in Brazil, as the company holds a local banking licence concerning FX services. This allows the company to offer a full range of FX and international payments products to its customers.
Source: Company Press Release