Evertec acquires 75% stake in Brazil fintech Tecnobank
SAN JUAN, PUERTO RICO — Evertec has entered into a definitive agreement to acquire a controlling 75% stake in Brazilian fintech Tecnobank Tecnologia Bancária S.A.
The transaction, valued at R$787 million (approximately US$144 million), represents Evertec’s third acquisition in Brazil and further expands its presence in Latin America’s largest economy.
Strategic expansion in vehicle financing sector
The acquisition targets Tecnobank’s specialized position in Brazil’s digital vehicle financing contract registration sector, where the company has established itself as a market leader.
Founded in 2007 and headquartered in São Paulo, Tecnobank provides essential digital contract registration services that ensure compliance and legal validity in auto lending, a cornerstone of consumer credit in Brazil.
“This acquisition continues to advance our growth strategy and expand our capabilities in Brazil,” said Mac Schuessler, President and CEO of Evertec. “We look forward to welcoming the Tecnobank team to Evertec and are excited about the opportunities ahead.”
Tecnobank President Renata Herani expressed enthusiasm about the partnership: “This agreement represents more than a strategic milestone: it represents a shared vision for the future of digital finance in Brazil.”
“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.”
Evertec’s growth strategy
Puerto Rico-based Evertec operates as a leading full-service transaction processor and financial technology provider across Latin America, the Caribbean, and Puerto Rico. The company operates in 26 countries, employs approximately 4,800 people, and processes over 10 billion transactions annually through its ATH network, one of Latin America‘s leading PIN debit networks.
Evertec’s expansion strategy has been aggressive in Brazil, with previous acquisitions of PaySmart and Sinqia in 2023. The company will finance the Tecnobank acquisition using existing liquidity, demonstrating its solid financial position and ability to fund growth without external financing.
The transaction is subject to approval by Brazil‘s Administrative Council for Economic Defense (CADE) and other customary closing conditions, with completion expected in the fourth quarter of 2025. The agreement structure allows Evertec immediate control while maintaining future flexibility, with options to acquire the remaining 25% stake at a later date.
