Edan Tech, technological arm of Edan Financial Group, announced the acquisition of a stake in the fintech Grab&Go Payment Solutions. This strategic move aims to boost growth and the offering of innovative financial products and services, focusing on the concept of Embedded Finance, by using the synergy and complementarity of the portfolio of the two organizations
Based in Campinas (SP), Grab&Go was founded in 2020 and currently has a market valuation of R$ 10 million. The fintech offers a complete White Label platform, allowing organizations from various sectors to implement their own banking operations. Specialized in innovative payment solutions like Pix with Change, BolePix and ATM Pix Withdrawal, Grab&Go generates over a million invoices per year and transacts R$ 12 million monthly, serving some of the main banks and fintechs in the country
Eduardo Silva, Co-Founder & CEO of Edan Financial Group, highlighted the innovative feature of Grab&Go as a crucial factor in the negotiation. "Grab&Go has several solutions that can be applied on a large scale", something that the market has not yet managed to develop with the same speed. Our idea is to integrate these tools with Edan's solutions, leveraging the growth of both institutions,"explained Silva
The companies will continue to operate autonomously, but they will be able to unite their best practices and solutions. "The management of Grab&Go will remain with its founders", while Edan executives will serve on strategic committees, focusing on market conquest,"said Silva. The business model provides that demands met by one of the companies are directed to the other when there is complementarity of solutions, respecting the autonomy of each corporation
Rafael Almeida, Co-founder of Grab&Go, see the partnership as an opportunity to accelerate the company's growth. "With the support of Edan Tech", we will have access to a broader portfolio of solutions, in addition to know-how and credibility in the financial market, what will allow us to expand our operations quickly and efficiently,"said Almeida
Besides Edan Tech, Edan Financial Group has other divisions such as Edan Finance, specialized in financial solutions, and Edan Pay, that offers POS (payment machines) with innovative solutions. Edan Pay is the result of the acquisition of the sub-acquirer Cobratudo, occurred in September 2022. The group also offers credit to corporate clients through FIDCs, international remittances, tickets and online sales processing
Eduardo Silva emphasized that the acquisition of Grab&Go is just the beginning. "Our goal is to achieve rapid growth", both organic and inorganic. In the next two years, we will continue evaluating new fintechs for possible acquisitions. This behavior is part of the DNA of our corporation and is already on our roadmap,"concluded Silva
With this acquisition, Edan Financial Group reinforces its commitment to innovation and expansion in the financial market, offering integrated and robust solutions for their clients
