Ebury Acquires Bexs Group, Expanding to Brazilian Market

The Central Bank of Brazil has given its approval for the acquisition of Bexs Group by Ebury, a global financial technology firm. The acquisition includes both Bexs Banco, a foreign exchange entity, and Bexs Pay, a payments platform.

Advancing Integration and Product Launch

Ebury and Bexs Group are set to work on integration processes and fast-tracking the introduction of new products in the Brazilian market. Luiz Henrique Didier Jr., previously CEO of Bexs Group, has been appointed as the Executive Director of Ebury in Brazil, leading the business in the region.

Bringing New Services to Brazil

The acquisition is expected to expand Ebury’s international money transfer solutions for small and medium-sized enterprises (SMEs) and bolster its digital services for online businesses in Brazil. These include marketplaces, investment applications, and software companies. By utilizing Bexs Group’s technology, Ebury will facilitate large-scale international payments to Brazil. The company has set a goal to onboard 3,000 clients in Brazil by 2025.

Global Growth Strategy

This move is part of Ebury’s global growth strategy, aiming to increase its presence in Latin America. The firm currently boasts more than 1,700 employees across 38 global offices in 25 countries. The acquisition is set to ease financial and commercial operations between Brazil and the rest of the world. The solutions developed are in line with Brazilian regulations, thus aiding the globalization of companies based in the country.

New Opportunities and Innovation

Luiz Henrique Didier Jr., ED of Ebury in Brazil, expressed excitement about Brazil’s accelerated connection with key economic regions worldwide. Meanwhile, Fernando Pierri, Global Chief Commercial Officer of Ebury, sees the acquisition as a chance to offer new foreign exchange services to Brazilian companies and integrate payment solutions into global marketplace platforms.

Rebranding Bexs Group

Following the acquisition, Bexs Group will be rebranded as Ebury Bank in Brazil. The company holds a local banking license concerning foreign exchange services, which allows it to offer a full range of foreign exchange and international payments products to its customers.