Ebury acquires Bexs

Wednesday 11 May 2022 15:36 CET | News

UK-based fintech Ebury has signed an agreement to acquire 100% of the Brazilian fintech Bexs, which includes the businesses Bexs Banco (foreign exchange) 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 allows 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. Following regulatory approvals, the institution will be integrated into Ebury's structure.

Thus, a small ecommerce business based in China, for example, can sell in Brazil via a marketplace and receive payments directly in USD or another foreign currency. Alternatively, a social network can use the platform to ensure a steady flow of compensation to influencers, a transaction type characterized by a high volume of micropayments with currency conversion. Additionally, brokerages can use the platform to offer their clients the opportunity to invest overseas.

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Keywords: acquisition, fintech, money transfer, SMEs, cross-border payments, ecommerce
Categories: Payments & Commerce
Companies: Bexs, Ebury
Countries: World
This article is part of category

Payments & Commerce




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