NEWS
Nuvei agrees to acquire licensed Payment Institution in Brazil
Canadian FinTech Nuvei , the Canadian FinTech , has agreed to acquire Pay2All Instituição de Pagamento Ltda ( Pay2All ) – a licensed Payment Institution authorized by the Central Bank of Brazil .
This acquisition is expected to enhance Nuvei ’ s capabilities in the Brazilian market and reinforces its commitment to the LATAM region .
The Payment Institution license will enable Nuvei to offer comprehensive payment services in Brazil as an Issuer of Electronic Currency . These include accepting payments , managing e-wallets and betting accounts , and participating in all of Brazil ’ s local payment systems , including processing Pagamentos Instantâneos ( PIX ) transactions .
By securing a Payment Institution license , Nuvei will also be well positioned as a payment partner of choice to the iGaming and broader eCommerce ecosystems in Brazil .
The proposed transaction is subject to customary closing conditions , including receipt of key regulatory approvals by the Central Bank of Brazil and local antitrust authorities .
Philip Fayer , Nuvei Chair and CEO , said : “ The proposed transaction not only strengthens our presence in LATAM but also demonstrates our commitment to providing fully localized and modern payment solutions to businesses in Brazil .”
In 2024 , Nuvei already signaled its commitment to growth in LATAM through its announcement that it was the first global payments company to offer direct local acquiring in Colombia .
Nuvei is also currently implementing a local acquiring service in Mexico .
Los Andes completes $ 10m capital raise for strategic M & A and Digital Transformation
Creation Investments Capital Management , a leading global impact investor in emerging markets , confirms that Peruvian microfinance company Los Andes has closed a $ 10 million capital round led by Accion Digital Transformation Fund .
The capital raise will support the strategic M & A and digital transformation plans of Los Andes – which serves micro and small entrepreneurs in rural Peru .
Los Andes has over 26 years of experience in the microfinance sector in rural Peru . The company serves around 85,000 borrowers and over 227,000 savings clients .
Through digital transformation and enablement , Los Andes aims to significantly expand its client base among the country ’ s 2.1 million micro , small , and medium enterprises .
Creation Investments first invested in Los Andes in 2016 and has led several subsequent funding rounds .
Managed by Accion Impact Management , the Accion Digital Transformation Fund builds on global nonprofit Accion ’ s experience supporting banks and finance companies globally .
Los Andes will draw on lessons from across Accion ’ s global work to help deliver new digital products and increase the use of digital processes .
“ We are excited to welcome Accion Digital Transformation Fund as a key shareholder in Los Andes to bolster the company ’ s growth plan driven by strategic M & A and digital transformation ,” said Bryan Wagner , Creation Partner and Los Andes Board Member .
“ Los Andes has demonstrated the ability to maintain profitability while promoting financial inclusion in the most underserved areas of rural Peru .”
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