Belvo enhances payment solutions portfolio with Skilopay acquisition
MEXICO CITY, MEXICO — Belvo, a leading Mexican fintech, announced its acquisition of Skilopay, a Brazilian fintech company, in a strategic move to bolster its payment solutions portfolio and extend its reach in the Brazilian market.
Belvo, known for its open banking Application Programming Interface (API) solution, facilitates financial institutions in tailoring their product offerings to better suit their customers’ needs by analyzing their financial data.
The acquisition of Skilopay, a firm offering payment services through Pix – an instant payment platform managed by Brazil’s monetary authority – is a significant stride following Belvo’s recent licensing as a Payment Transaction Initiator (TPI) by Mexican regulators.
The merger is expected to enhance Belvo’s mission of simplifying financial transactions for businesses across Latin America.
“Our aim is to provide companies with easier ways of receiving, holding and sending money through account-to-account payment rails in Latin America and this acquisition brings us one step closer to achieving that goal,” said Belvo General Manager Albert Morales.
Belvo has over 150 B2B clients spread across Brazil, Mexico, and Colombia. Its clientele includes established financial institutions, emerging neobanks, and lenders, all set to benefit from the enhanced payment capabilities that the Skilopay acquisition is expected to deliver.
