Omie, a Brazilian cloud-based ERP platform,has announced the acquisition of the digital bank Linker for over US$21.9 million (BRL 120 million). With this deal, they incorporate Linker’s full operation, which will allow them to expand its banking, credit and payment services.
The Brazilian SaaS was founded in 2013, and in recent months they’ve been very active in the venture capital and acquisitions world: In August, Omie raised BRL 580 million in a round from SoftBank Latin American Fund, and since then the company has already acquired Devi Tecnología and G-Click. Devi Tecnología is a sales software solutions company, and G-Click is a web tool for accounting offices. Omie provides solutions to medium-sized businesses, and its acquisitions are the consequences of an ecosystem where the competition between digital banks, fintechs and traditional banks is increasing exponentially.
Linker, on the other hand, is a digital bank founded in 2019 that offers financial services and banking solutions like credit cards and digital accounts to over 30,000 small and medium-sized businesses. This fintech platform saw its volume of transactions grow 15 times since last year, and the integration with Omie will further expand its customer base, amongst whom there are potential ERP customers. This is also a strategic acquisition for Omie, since it will help to expand their target market and enhance its customer loyalty strategy.
Omie’s co-founder and CEO Marcelo Lombardo explained why the purchase creates a synergy: “We have always believed that financial services and management software are on a convergence path, and that ‘ERP is the new Internet Banking’. We found in Linker a product perfectly designed for this purpose and a first-rate team.” David Mourão, founder and CEO of Linker also commented on their strategy: “It is the ideal partner to offer a complete and integrated solution to the ecosystem of Legal Entities.”
With this deal, Omie plans to end the year with approximately 100,000 customers by fully incorporating Linker’s operation and contributors, though the brand will be maintained.
Read more about this deal on Labsnews.
