Brazilian bank Afinz acquired Pagolivre, a local fintech focusing on recurring payments, for an undisclosed amount.
Afinz offers traditional banking services, such as insurance, credit cards, investments, and loans. The deal adds recurring payment services to Afinz’s portfolio.
“We saw in Pagolivre what we needed to make our portfolio even more robust and complete. (…) Many people now commonly use credit cards for recurring payments. Now, with the acquisition of Pagolivre, we aim to take the lead in this segment within five years,” said Claudio Takashi Yamaguti, Founder and CEO of Afinz.
Founded in 2014, Pagolivre helps over 1,600 clients manage recurring payments, different sales channels, and marketing campaigns.
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