Brazilian credit fintech BYX Capital acquired Nvio, Bitso‘s licensed payment entity in Brazil, for an undisclosed amount. The transaction is pending Central Bank approval for the change of ownership.
BYX operates as a banking correspondent, acting as an intermediary for financial services and offering structured payroll credit and securitization solutions for fintechs, banks, and financial institutions. Nvio is an authorized direct credit society regulated by Brazil’s Central Bank.
With the acquisition, BYX will no longer need to hire banking as a service providers to offer credit solutions, allowing it to expand into new credit markets beyond payroll loans.
“This strengthens our banking structure and provides greater security for operation settlements,” said Fernando Perreli, co-founder and CEO of BYX Capital.
Founded in 2020, BYX serves over 25 financial institutions and fintechs, operates with a team of 185 employees, and recorded a net profit of $12.6M in 2024.
Read more on Finsiders Brasil.