Everyone invested

Airfox is being acquired by Via Varejo, a Large retail company in Brazil

Techstars alumn Airfox (Boston, USA) provides a digital wallet and aims to serve especially the underbanked population of Brazil, now also via the retail network of Via Varejo. The latter company has acquired Airfox for an undisclosed amount. Together the companies have already created “banQi,” a mobile banking app that supports transactions at Via Varejo retail stores Casas Bahia and PontoFrio, that serve over 60 million customers. Via Varejo already has a credit portfolio of $100 billion, and sees great potential to manage and distribute these credits via the infrastructure provided by Airfox. Airfox will also operate as the groups fintech innovation hub, remaining in Boston. Retail offers a great opportunity in Brazil to distribute banking services at much lower costs than local traditional banks.

Read more here

Share this Article
Related Insights
Holland Fintech Digital Transformation Paper 2024
Holland Fintech is proud to present the Digital Transformation Paper 2024. This whitepaper, led by the Holland Fintech working group Digital Transformation in collaboration with Accenture, provides valuable insights into the dynamics and key factors influencing successful collaborations between fintechs and incumbents.
Holland Fintech Pavilion at Money 20/20
Money 20/20 – Join our Pavilion! The Holland Fintech Pavilion offers a unique opportunity to connect with a global audience of fintech professionals. Located at the heart of Money 20/20, the pavilion provides a central hub for networking, collaboration, and exposure.
Amsterdam Fintech Week
Amsterdam FinTech Week is back on 2-4 October 2024! Be a sponsor, co-organizer, or just participate in our community events.

How likely are you to recommend Holland FinTech?