Ebury buys Bexs to facilitate Brazil expansion

For an unknown sum, London-based fintech Ebury, which specialises in international transactions for SMEs, is set to purchase Brazilian fintech Bexs.

Ebury intends to use the acquisition to extend its international money transfer solutions for SMEs as well as give digital services to firms in Brazil that sell their products online. Bexs owns two companies: Bexs Banco and Bexs Pay, both of which will be acquired by Ebury.

Bexs Banco is a foreign exchange specialist, whereas Bexs Pay is a cross-border digital payments provider for e-commerce, SaaS, and tech-driven businesses. Its API platform allows online firms from Asia, Europe, and North America to operate in Brazil by providing payment solutions for pay-in and payout.

Bexs’ CEO Luiz Henrique Didier Jr will continue to lead the company’s operations in Brazil, according to the deal reached with Ebury. The fintech startup will be fully incorporated into Ebury’s structure following regulatory approvals.