Fonte: Latin Lawyer | Publicado em 03/02/2022 | Clique aqui e veja a publicação original

Martinelli Advogados has helped Brazilian business platform operator Conta Azul purchase local fintech Swipe.

Latin Lawyer understands that BVZ Advogados acted as counsel to Swipe, but this could not be confirmed before publication.

The acquisition closed on 14 January for a confidential amount.

Founded in 2011, Conta Azul helps small businesses create digital platforms on which they can organise their finances and track cash flow.

Through its online platform, Swipe provides customers with digital wallet solutions.

The Brazilian fintech market is one of the fastest growing in the world, with the first fintech companies appearing in the Latin American country in 2013. Between 2015 and 2021, the sector grew by 147% and now more than 1,100 Brazilian companies operate in the fintech sector. In 2020, Latin America’s fintech sector grew by 34%.

Transactions in the market are also becoming more frequent. At the end of 2021, Brazilian online payments company Ebanx acquired local transfer company Remessa Online for US$229 million, while fintech Dock purchased Mexican card processing solution provider Cacao. In November, Banco Inter bought US finance start-up USEND. Brazilian giant Nubank, now the world’s largest digital bank, snapped up Palo Alto-based artificial intelligence company Olivia.

Martinelli Advogados
Partner Cintia Meyer and associates Luiz Guilherme Gama de Oliveira and Eduardo Bertola