Raízen (RAIZ4) buys startup Payly for R$78 million and creates monetary providers unit
- October 24, 2022
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Company says potential gross transaction volume could be more than BRL 200 billion
the energy company Root (ROOT4) and operator of the service stations shell decided to create a financial services unit. For this, announced this Monday, 17, the purchase of the payment method startup Paylywhich was created in 2018 by its parent company, Cosanwith the Topázio bank. Raízen will pay Cosan R$78 million, free of any debt. The operation is subject to approval by the Where.
According to the company, the acquisition of payly represents the first step in the development of the financial services unit. That’s because the startup already provides technology in financial services, being a relevant part of the Shell Box value chain, has a team “with solid competence in digital technology solutions and their application in
financial institutions” and already operates regularly as a payment institution, in accordance with the regulations
of the Central Bank.
The new business unit, according to Raízen, will provide convenience and loyalty to the end customer and partners, proprietary data intelligence and “mercantile promotion and third-party fundraising, enhancing value in the business chain”.
Currently, the Raízen ecosystem has a potential volume (GMV for gross sales value) of more than BRL 200 billion considering the company’s total revenue, which serves more than 8,000 service stations, 5,000 B2B customers, 50 million end customers, 17,000 customers in the electricity segment, 1,500 proximity and convenience establishments, suppliers and business in the sugar and ethanol sector.