Brazil's Banco Pan buys Mosaico, parent company of Buscapé and Zoom

With the acquisition, the bank plans to create an ecosystem for shoppers, including content, price comparison, and credit options

Brazil's Banco Pan reaches 12.4 million clients and a BRL 202.5 million net income in 2021's Q2
Photo: Pan/Facebook
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The Brazilian bank Banco Pan announced an agreement for the acquisition of Mosaico, the parent company of Zoom, Buscapé, and Bondfaro, this Sunday (3). The operation will be carried out entirely through the exchange of shares, notified the bank in a press release.

Zoom, Buscapé, and Bondfaro are e-commerce content and sales origination platforms that develop technology solutions to help the digital consumer find better prices for online products.

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With the merger, Banco Pan expects to become the most complete banking and consumer services platform in the country. Currently, Pan has 12.4 million customers, while Mosaico has 22 million monthly users on its platforms.

According to the bank, the plan is that joined-effort can indicate the best prices together with financial features as cashback and different credit conditions.

“We have always had a lot of admiration for Mosaico, for its purpose and for the entrepreneurial skill of its executives. We are convinced that together we can build something much bigger. We are very excited to have the Mosaico team, which leverages our technology and product development skills.” says Banco Pan CEO, Carlos Eduardo Guimarães.

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With the purchase, Mosaico’s key shareholders will become executives of Banco Pan and one of them will become a member of the board of directors. Everyone will have a lock-up (a determined period in which they cannot sell the shares, under penalty of fine) on the shares received.

“The banking business has a natural recurrence and this is the ‘Holy Grail’ for e-commerce. By joining Pan, we promote the lock-in of this consumer within this ecosystem that we are creating. The BTG Pactual group has always supported us and it’s an honor to be part of a project of this magnitude”, says Guilherme Pacheco, co-founder and chairman of Mosaico‘s board of directors.

The new marketplace is born on a proprietary platform and should combine the strengths of the two companies: cashback, price alert, expert content, price comparison, 400 integrated stores, and a buy now pay later system (credit solutions for purchase in installments ) already operational that will be scaled with Pan’s expertise.

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Combined with this, the bank will launch an exclusive credit card, and there will be integration with Mobiauto’s platform (recently acquired by Pan), expanding the range of products offered and strengthening the group’s vehicle ecosystem.

“This operation is transformational. We have the largest credit portfolio among all digital banks in Brazil, in addition to a complete range of financial products and services. With the acquisition, we now have 35 million customers, both account holders, and non-account holders, and we have greatly expanded our portfolio of non-financial products”, adds Guimarães.

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