Reinforcing its commitment to business growth across the Latin American region, Evertec, a regional leader in payment processing and financial technology, has signed an agreement to acquire a 75% stake in Tecnobank, a fintech company renowned for its expertise in Brazil’s digital vehicle financing contract registration sector.
The parties have agreed to a transaction valued at R$787 million, representing approximately USD 144 million at current exchange rates. The agreement is subject to customary closing conditions, including approval by Brazil’s Administrative Council for Economic Defense (CADE), the government agency responsible for regulating national competition. If authorized, the deal is expected to close in the fourth quarter of this year.
“This acquisition continues to advance our growth strategy and expand our capabilities in Brazil. We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead ”.
Mac Schuessler
President and CEO of Evertec.
Tecnobank holds a leading position in its business sector in Brazil, supported by an experienced management team and advanced technological capabilities.
“This agreement represents more than a strategic milestone: it represents a shared vision for the future of digital finance in Brazil. By joining forces with Evertec, we have a unique opportunity to scale innovation, accelerate the digital transformation in vehicle financing, and contribute to a more agile, secure, and inclusive financial ecosystem for the country”
Renata Herani
President of Tecnobank in Brazil.
The compatibility between both companies creates an opportunity to drive process innovation and operational efficiency in the sector, ultimately delivering greater agility and value to the market.
Once completed, this would mark Evertec’s third acquisition in Brazil, following the integration of PaySmart and Sinqia in 2023.
