PayRetailers Gets Approval for Acquisition of Transfeera
Brazil’s Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BCB) have officially approved PayRetailers’ acquisition of Transfeera, a fintech specializing in payment solutions for businesses.
The acquisition is a significant part of PayRetailers’ strategy to expand its operations in Brazil, following its receipt of a payment institution license from the BCB in April 2024. The deal will provide PayRetailers with direct access to Pix, Brazil’s widely used instant payment system, enhancing its regulatory framework, improving risk management, and unlocking new opportunities in Open Banking.
Founded in 2017, Transfeera offers platform and technology solutions for payment processing and bank data validation. Since becoming a regulated Payment Institution in 2023, Transfeera has raised over R$10 million in investments from Goodz Capital, Bossa Nova Investimentos, Honey Island, 4UM Investimentos, and Curitiba Angels.
Based in Santa Catarina, Transfeera brings over 500 new clients into PayRetailers’ portfolio, further expanding its reach in Brazil and globally. With operations in more than 20 countries across Latin America and Africa, PayRetailers plans to increase its services to Brazilian businesses starting in 2025.
Fernando Nunes, co-founder and CEO of Transfeera, said:
“This acquisition opens up access to a wide range of payment methods across Latin America and Africa, through a single API. It strengthens our competitive position in the market and accelerates our technological innovation to deliver secure, efficient, and cutting-edge solutions to meet customer needs.”
Juan Pablo Jutgla, founder and CEO of PayRetailers, added:
“Transfeera is an innovative and technologically advanced leader in Brazil, adhering to the highest standards of risk management and security, supervised by the Central Bank of Brazil. We are excited about the growth opportunities this acquisition brings and look forward to strengthening Transfeera’s market position.”
Nunes concluded:
“Security has always been a priority at Transfeera, and with this acquisition, we aim to extend our trusted solutions into new markets such as sports betting. Our goal is to provide the same level of security and quality to these sectors as we have to our existing partners and clients.”
With this approval, PayRetailers is set to expand its footprint in Brazil and continue scaling its services across Latin America and Africa.