This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The payment platform Ebanx announced this week the purchase of the international resource transfer fintech Remessa Online for more than 212 million dollars.

Cortesía Ebanx

The Brazilian fintech Remessa Online has transacted more than 5.2 billion dollars in incoming and outgoing remittances since its foundation in 2016, and is one of the main fintechs for international transfers in the Rio de Janeiro country.

“We are joining forces to provide a better service to merchants and consumers, consolidating our experience and presence in the region. The digital and financial inclusion that we are seeing right now in Latin America will not diminish. It will continue to advance and play a leadership role in accelerating digital marketplaces and payments ecosystem in the region. We are delighted that Remessa Online is joining us. They have an incredible history and culture, and we are confident that we will build and accelerate both businesses, and provide even better solutions and more comprehensive for our combined customer base, “said João Del Valle, co-founder and CEO of EBANX in a statement.

^{Wagner Ruíz, co-founded and CRO of Ebanx / Image: Courtesy Ebanx}

Ebanx provides payment services in Latin America to 35,000 companies, – such as Spotify -, in various Latin American countries such as Mexico, Colombia and Argentina. In October it announced the purchase of Juno, a billing fintech.

The acquisition of Remessa Online follows Ebanx’s announcement of a $ 430 million investment by Advent International, and investments by Lead Edge, through New York Avenue I LLC, Manzat Inversiones, GHS Holding Ltda and LTS Liquid Investments LLC.