Evertec Accelerates Latin American Expansion with Strategic Moves in Brazil and Chile
Puerto Rico-based fintech and payment processing company Evertec is intensifying its footprint across Latin America. Through a combination of targeted acquisitions and strategic partnerships, the firm is solidifying its role as a critical technology infrastructure provider in a rapidly evolving digital payments landscape.
Deepening Infrastructure Capabilities in Brazil
Evertec’s growth strategy in Brazil centers on enhancing its technical expertise in blockchain and digital assets. The company recently entered into an agreement to acquire a 67% stake in the São Paulo-based startup BBChain. This transaction is currently subject to regulatory approval by Brazil’s antitrust authority, Cade.
Founded in 2018, BBChain specializes in blockchain infrastructure, digital custody, and tokenization solutions tailored for financial institutions and capital market participants. By integrating these capabilities, Evertec aims to bolster its existing software and financial infrastructure portfolio. This move follows the company’s significant 2023 acquisition of software provider Sinqia, which served as a foundational step for Evertec’s expansion into the Brazilian market.
The acquisition of BBChain is structured in two phases. Upon the closing of the operation, Evertec will assume control of the startup, with the remaining equity stake contingent upon meeting future performance milestones.
Strategic Partnership with Transbank
Beyond its acquisition activity, Evertec is expanding its operational reach through a new strategic agreement with Transbank, one of Chile’s primary payment processors. Under the terms of this partnership, Evertec will provide essential technology and processing services to support Transbank’s acquiring operations and payment infrastructure.
While the financial details of this agreement remain undisclosed, the partnership marks a significant milestone for Evertec as it extends its technical influence into the Chilean market. Transbank, known for its role as a major local infrastructure client of AWS, aligns with Evertec’s focus on large-scale, high-reliability payment systems.
Key Takeaways
- Regional Scale: Evertec currently maintains operations in 26 countries and territories across Latin America and the Caribbean.
- Transaction Volume: The company processes more than 6 billion transactions annually, highlighting its role as a major player in the regional fintech ecosystem.
- Strategic Evolution: Having historically focused on Puerto Rico and the Caribbean, Evertec is successfully pivoting toward a broader regional strategy driven by both organic growth and inorganic acquisitions, such as its previous investments in Sinqia and Tecnobank.
Looking Ahead
Evertec’s recent maneuvers indicate a clear focus on diversifying its service offerings—moving beyond traditional transaction processing to include advanced financial software, blockchain, and tokenization. By leveraging Brazil as a hub for regional software delivery and securing key partnerships in markets like Chile, the company is positioning itself to capture a larger share of the digital financial transformation currently sweeping through Latin America.
Disclaimer: This report is based on information regarding recent corporate developments in the fintech sector. Market conditions and regulatory approvals remain subject to change.
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