The acquisition is set to 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.
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 payment products to its customers.
In June 2023, representatives from Bexs stated that the transition to Ebury Bank has had a significant impact on the company in terms of its operations, market positioning, and growth prospects. At that time, the acquisition was still pending approval, however, it represented an opportunity for Bexs to establish itself as a global brand and leverage the strength of Ebury's market positioning. By aligning with Ebury's global strategy, Bexs would be able to expand its offerings and market presence. The collaboration would allow Bexs to tap into Ebury's expertise, resources, and established market channels, which can fuel the growth trajectory in the long term.
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