Evertec to acquire 75% stake in Brazil fintech Tecnobank
Evertec Inc. announced it has signed an agreement to acquire a 75% stake in Tecnobank, a Brazilian financial technology company. The deal, valued at about $144 million (787 million Brazilian reals), is expected to close in the fourth quarter of this year, pending regulatory approval in Brazil.
“This acquisition continues to advance our growth strategy and expand our capabilities in Brazil,” said Mac Schuessler, Evertec’s chief executive officer. “We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead.”
Tecnobank manages systems for vehicle financing registration and has built a position in Brazil’s digital finance sector. The company is led by an experienced management team, according to Evertec.
“This agreement represents more than a strategic milestone: it represents a shared vision for the future of digital finance in Brazil,” said Tecnobank President Renata Herani. “By joining forces with Evertec, we have a unique opportunity to scale innovation, accelerate the digital transformation in vehicle financing, and contribute to a more agile, secure and inclusive financial ecosystem for the country.”
Once completed, the deal will mark Evertec’s third acquisition in Brazil. In 2023, the company acquired PaySmart and Sinqia, expanding its presence in Latin America’s largest economy.
San Juan-based Evertec operates across 26 Latin American countries and processes more than 10 billion financial transactions annually. The company said the Tecnobank acquisition will broaden its fintech service offerings and deepen its role in the region’s growing digital payments and lending infrastructure.
