TC and Ourominas announce settlement for three way partnership in monetary merchandise
Since it went public in July 2021, when it raised BRL 607 million in funds, TC (formerly Traders Club) has made a series of internal and organic moves to go beyond the financial education platform that gave rise to the operation and consolidate new lines in its portfolio.
On the morning of this Wednesday, December 14th, the company is taking another step in that direction. The company has just announced that it has entered into a non-binding memorandum of understanding for the formation of a joint venture with Ourominas centered on the distribution of financial products.
“This initiative is the result of the company’s efforts to implement its growth and profitability strategy through the transactional segment, based on the distribution of financial products; the verticalization of its structure; and starting to work with partnerships in B2B and B2C”, the company said in a statement.
Under the terms of the agreement, which is still subject to negotiation, the transaction could involve the creation of a new company, in which TC will hold a 51% stake, while Ourominas will be responsible for the remaining 49%.
According to the note, the new operation will seek cross-exploitation of the companies’ products in their respective bases. Under these terms, the TC highlighted that it currently has more than 700,000 registered users on its platform.
With more than 30 years in the market and specializing in financial solutions in the gold and exchange markets, Ourominas, in turn, has approximately 500,000 active customers in its operation, in addition to more than 80 stores in its base, including its own units and from authorized partners.
In October of this year, in yet another movement, the TC announced the completion of the acquisition of the fund manager Pandhora Investimentos, in an operation valued at R$14.9 million. In June, in another agreement to reinforce its investment platform, the company bought brokerage firm Dibran DTVM.
In parallel with these initiatives, the company has been dealing with a difficult moment in the capital market. The company’s shares, valued at BRL 576.1 million, accumulated a devaluation of 66.2% in 2022.