The Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BCB) have officially approved PayRetailers, the payments processor in Latin America and Africa, to acquire Transfeera, a fintech focused on payment solutions for businesses.
As PayRetailers looks to expand its presence in Brazil, it hopes the acquisition of Transfeera will enable it to gain direct access to Pix, the real-time payment system in Brazil. It says this would strengthen the company’s regulatory and risk management structure in Brazil, and expand its opportunities in open banking.
Transfeera offers platform and technology solutions for payment processing and bank data validation and has already secured over R$10million in investment. The Santa Catarina-based fintech, which was founded in 2017 and has been a regulated payment institution since 2023, brings over 500 new clients to Payretailers.
With operations in more than 20 countries across Latin America and Africa, PayRetailers aims to offer its services to Brazilian companies in 2025.
Juan Pablo Jutgla, founder and CEO of PayRetailers, said: “Transfeera stands out as a technological and innovative powerhouse in Brazil, aligned with the best practices in risk management and security, being an entity supervised by the Central Bank of Brazil.”
Expansion into new markets
The news comes shortly after PayRetailers was granted a payment institution license from the BCB in April earlier this year.
“This acquisition provides us with access to a wide range of payment methods across Latin America and Africa through a single API, in over 20 countries and 250 payment methods,” explained Fernando Nunes, co-founder and CEO of Transfeera. “This positions us even more strongly to enhance our competitive advantages in the market. Together, we aim to accelerate our journey of technological innovation, offering innovative, secure, and efficient solutions to meet market demands.
“We are excited about the opportunities this acquisition brings and confident that Transfeera will become even more robust and competitive. Security, which has always been a fundamental pillar for Transfeera, now extends to new markets, such as sports betting. Our goal is to offer the same security and quality we’ve always provided to our partners and clients in these new sectors as well.”