The news follows the acquisition of Brazil-based Bexs last year👇
Ebury, an international payments, FX solutions and business lending fintech, has announced plans to strengthen its position in Brazil and across Latin America, following its acquisition of Bexs last year.
Bexs is a Brazil-based fintech that offers international payments, FX risk management and foreign trade solutions.
UK-headquartered Ebury plans to launch more products in Brazil, and will target Brazilian importers and exporters with its multi-currency accounts.
The fintech has been investing heavily in API solutions for businesses, including its white-label solution.
The fintech also acts as a payments facilitator for online sellers on global marketplaces, such as Amazon Seller Central.
On the announcement, Luiz Henrique Didier, chief executive officer of Bexs, said: “Brazil is a country of continental dimensions with over 170m people connected to the internet, offering tremendous potential for growth in cross-border operations.
“We want to be well positioned to attract more digital businesses, such as fintechs, ecommerce and payments companies, to grow their business in Brazil without the need of a local entity.
“Our FX-as-a-Service solution fortifies the strategic value of Brazil and the LATAM region for business expansion.”
Fernando Pierri, global chief commercial officer at Ebury, commented: “With tools that drive traditional and digital markets, as well as secure, frictionless international transactions, along with greater confidence to deal with FX volatility, we have increasingly connected thriving markets.
“We are working intensely on our mission of enabling business at a global level.”