Ebanx buys Remessa Online, which captured market share with blockchain. Photo: NASA, Unsplash.
THE Ebanx, international and national payment platform, bought fintech Online Shipping, which uses blockchain for international shipments and is a partner of Nubank. The operation is worth R$1.2 billion. The objective is to create a large company in international payments and transfers.
With blockchain, shipments tend to be faster and cost less than conventional transactions. Remessa, which Fernando Pavani, Alexandre Liuzzi and Marcio William created, says its rates are up to 8 times cheaper than those of traditional banks. And shipping deadline is up to one business day.
“The plan is already outlined, Ebanx intends to leverage its payment services that connect global brands to Latin American consumers. At the same time, it will accelerate the expansion of its business with Remessa Online’s expertise in international transfers,” said the company in a statement.
Curitiba’s unicorn Ebanx claims to be the largest payment platform in Latin America. The founders are Alphonse Voigt, Joao Del Valle and Wagner Ruiz. On the other hand, Remessa Online claims to have a third share of the shipping market by individuals. In addition, it is one of the five largest companies in the number of remittance transactions registered with the Central Bank.
Online Remittance and Ebanx want to be a large company
Last June, Ebanx finalized the purchase of Juno, a B2B financial services fintech. And all of this comes after an investment of US$ 430 million (around R$ 2.5 billion) from a group of investors led by Advent International. Remessa Online received a contribution of US$ 20 million (approximately R$ 110 million) in 2020, led by the Kaszek Ventures fund.
“We are excited about the arrival of Remessa Online at this time in Ebanx’s history. We believe that the complementarity of operations will allow us to better serve clients in Latin America, in addition to accelerating and expanding Remessa’s plans”, said JoĂŁo Del Valle, co-founder and CEO of the buyer.
“The focus of everything that Remessa Online has built in these five years of history has been on eliminating the barriers for customers who want to operate internationally,” says Pavani, who, in addition to being founder, is the CEO of Remessa Online. Therefore, this is in line with the company’s mission with Ebanx “to continue transforming the business environment in Brazil and abroad”, he added.
According to Remessa Online, the registered accounts and their platform remain the same.