Business

Brazilian fintech Ame, controlled by retailer Lojas Americanas and e-commerce company B2W, buys credit company Parati

The BRL 34 million acquisition of Parati is in line with Ame's business plan

Brazilian retailer Lojas Americanas's website
Photo: Shutterstock
Ler em português
  • With the acquisition of Parati, Ame will offer a broader set of solutions to its more than 15 million customers and 2.8 million connected merchants;
  • The transaction implementation is subject to the completion of certain conditions, including the Brazilian Central Bank’s approval.

Ame, a fintech owned by the Brazilian retailer Lojas Americanas and the e-commerce company B2W, reached an agreement this Tuesday to buy Parati, a credit, financing, and investment company regulated by the country’s Central Bank for BRL 34 million ($6.5 million).

According to a material fact disclosed by the companies, Parati has direct access to the Brazilian Payment System (SPB) and the Instant Payments System (SPI), and acts as a Bank as a Service (BaaS) and Regtech, enabling fintech to get into the banking system and distributing, through partners, credit solutions.

READ ALSO: Mercado Libre will surpass $20 billion in e-commerce sales in 2020

With the acquisition of Parati, Ame will offer a broader set of solutions to its more than 15 million customers and 2.8 million connected merchants, including digital account, credit card, prepaid card, loans, PIX integration, among others.

The acquisition is in line with Ame’s business plan, making it possible to accelerate its development and maximize its business fronts.

READ ALSO: SoftBank-backed Olist acquires technology and logistics startup PAX

The transaction implementation is subject to the completion of certain conditions, customary in operations of a similar nature, including the Brazilian Central Bank’s approval.

Translated by LABS

Get the best insights about Latin America market in your inbox