Evertec acquires 75% of Tecnobank in $148M Brazil deal
Evertec has completed the acquisition of a 75% stake in Tecnobank, a Brazilian provider of digital registration services for vehicle financing contracts. The transaction was valued at 787 million Brazilian reais, or about $148 million.
The company said the deal supports its strategy to expand its footprint in the financial technology sector across Latin America.
“We’re excited to welcome the Tecnobank team to Evertec, strengthening our financial technology capabilities and opening new avenues for growth,” said Mac Schuessler, Evertec’s CEO. “Further, this acquisition scales our footprint in the rapidly growing Brazilian market as we look to continue our momentum across Latin America.”
Tecnobank is known for its work in data intelligence and digital infrastructure. Evertec said the integration is expected to accelerate innovation in vehicle financing services and expand access to digital solutions.
“For us, joining forces with Evertec is a unique opportunity,” said Renata Herani, president of Tecnobank. “We have the chance to expand innovation, accelerate digital transformation in vehicle financing, and contribute to a faster, safer and more inclusive financial ecosystem in Brazil.”
Evertec said the acquisition is a strategic step in strengthening its regional presence and will create greater operational efficiency and added value for clients and partners.
