In a strategic move to diversify its operations and accelerate the democratization of credit access, Serasa Experian announced the acquisition of FlexPag, the fintech specialized in utility services.
While the financial details of the transaction have not been disclosed, the purchase will allow Serasa Experian to implement a new feature called “My Accounts” in its mobile application, which currently has 83 million users.
The new feature will be a bill aggregator that will include water, electricity, and gas debts, thus offering more transparency and information to consumers about their expenses and financial obligations. “All the acquisitions we have made since 2021 aim to bring innovation and offer more opportunities for both consumers and companies to access credit,” the company said in a statement.
FlexPag is the ninth startup to receive capital from Serasa Experian. The company recently completed the acquisition of Mova and other relevant players in various sectors, including Pague Veloz and BRScan (anti-fraud), as well as AgroSatélite and Nogord.io in the agricultural and technological fields.
“We are betting on acquisitions that align with our purpose and contribute to consolidating this objective,” said Valdemir Bertolo, CEO of Serasa Experian.
The acquisition comes at a time of significant changes in the fintech ecosystem of Latin America. According to a study by GP Bullhound, after a record surge in investments and funding in 2021, these indicators decreased in 2022 due to macroeconomic events in the region. Nevertheless, the fintech sector in Latin America and the Caribbean remains a positive exception, attracting USD $500 million in investments during the second quarter of 2023, a 150% increase compared to the previous quarter.
Serasa Experian seeks to consolidate its position and support more consumers and companies on their financial journey, mainly when investors prioritize profitability over growth at all costs.
The acquisition of FlexPag reinforces Serasa Experian’s diversification strategy and highlights the growing trend of mergers and acquisitions in the technology industry of Latin America.