Business

Brazilian fintech Hurst Capital acquires startups Watermelon and Dividendos.Me

Hurst did not disclose values ​​of the deal, but said that 62.5% would be paid in cash and the remaining part in shares of its issuance

Photo: Hurst Capital website
  • Hurst Capital works with alternative investment options, assets such as receivables, real estate and royalties from music;
  • Watermelon owns the app Renda Fixa, which has about 150 thousand active users and 500 thousand downloads, and aims to help find the best fixed income option among other features;
  • Dividendos.Me has around 66 thousand registered users and monitors the stock portfolio, centralizing the results of investments in different brokers in a single place;
  • Values of the deal were not disclosed, but Hurst said that 62.5% of the value will be paid in cash and the rest in shares of its issuance.

The alternative investment platform Hurst Capital announced on Wednesday the acquisition of financial startups Watermelon and Dividendos.Me, expanding a portfolio that currently includes tech products to originate, structure and distribute assets such receivables, real estate and royalties from music.

“The two services are complementary to the products we currently offer to investors,” said Hurst founding partner Arthur Farache in a statement. “Hurst’s goal is to increase the distribution power of alternative assets.”

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Watermelon owns the app Renda Fixa, which has about 150 thousand active users and 500 thousand downloads, and aims to help find the best fixed income option among other features. Hurst did not disclose the values of the transaction, but said that 62.5% of the value will be paid in cash and the rest in shares of its issuance.

“The App Renda Fixa and Hurst have many synergies and complementarity in their value propositions. Although both will remain independent and focused on their respective niches, together they will be strengthened to compete in this investment market that is more and more heated”, says Francis Wagner , CEO of App Renda Fixa.

In the case of Dividendos.Me, which has around 66 thousand registered users and monitors the stock portfolio, centralizing the results of investments in different brokers in a single place, Hurst has already acquired a 49% stake in the operation through equity and should exercise an option to buy another 11% in the future.

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Hurst also reported that it has cancelled the acquisition of Orla DTVM.

Founded in 2017, Hurst generated more than BRL 400 million for more than 3,000 investors from 10 countries. For 2020, the forecast is to raise this value by BRL 200 million.

Translated by LABS

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