Locaweb acquires Brazilian fintech Vindi


LatamListLocaweb, a website service operator, announced the full acquisition of Vindi, a Brazilian fintech. This is the third acquisition since the company’s IPO in February.

Vindi is a SaaS startup that provides major Brazilian companies, such as Exame, Empiricus, and Digitais Results, with payment processing and management software. The startup’s software includes recurring bill payments management and a payments platform.

Locaweb will incorporate Vindi’s payment solutions services into its website services following the acquisition. The company also acquired Social Miner and Etus earlier this year in September.

Shareholders representing 79.33% of Vindi have already accepted the acquisition proposal, for which the deadline is December 5. The startup is valued at $33M (R$180M), although the closing price is still subject to adjustment, and Locaweb is looking to take 100% of the company.

Read more on Brazil Journal.

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