FinTech Ebury acquires Bexs to expand its footprint in Brazil

By Delisha Fernandes

Ebury, a London-based FinTech company, has announced that the Central Bank of Brazil has approved its acquisition of Bexs Group, including both Bexs Banco (foreign exchange) and Bexs Pay (payments).

The acquisition will broaden Ebury’s offering of international money transfer solutions for SMEs and amplify its digital offerings to online businesses in Brazil, particularly marketplaces, investment applications, and software companies.

Luiz Henrique Didier Jr., ED of Ebury in Brazil, said, “This approval means we can now accelerate Brazil’s connection with the world’s key economic regions. We are excited to expand our offering for SMEs in Brazil operating in international trade and strengthen our position as leaders in meeting the needs of digital e-commerce, investment platforms and other companies operating in the cross-border segment.”

Ebury will enable large-scale payments from abroad to Brazil by leveraging Bexs Group’s technology. The company aims to onboard 3,000 clients in the country by 2025. The solutions conceived comply with Brazilian regulations and are important for globalising companies based in the country, especially small and midsized companies with difficulties tapping into international markets.

Fernando Pierri, Global Chief Commercial Officer of Ebury, said, “This acquisition opens up huge potential for Ebury to offer new foreign exchange services for Brazilian companies and to integrate payment solutions into global marketplace platforms. The international payments world still has many friction points, and we will continue to innovate to bring forward solutions to improve the experience of these services.”

Following the acquisition, Bexs Group will be branded as Ebury Bank in Brazil, as the company holds a local banking licence concerning FX services. This allows the company to offer its customers a full range of FX and international payment products.