Narayan AmmachchiPuerto Rico-based fintech Evertec, Inc. has signed a definitive agreement to acquire a 75% controlling stake in Brazilian digital contract solutions provider Tecnobank Tecnologia Bancária S.A. for US$144 million.
The deal, expected to close in Q4 2025 pending approval from Brazil’s competition watchdog CADE, marks Evertec’s third major acquisition in Brazil following PaySmart and Sinqia in 2023.
Founded in 2007 and headquartered in São Paulo, Tecnobank has become a major player in digital contract registration for Brazil’s vehicle financing sector—a key enabler of consumer credit in Latin America’s largest economy.
Its digital solutions ensure compliance, security, and legal validity for auto-lending contracts, serving banks, credit unions, and auto-finance firms nationwide.
Evertec, which processes over 10 billion transactions annually through its ATH network, operates in 26 countries across Latin America, the Caribbean, and Puerto Rico.
With 4,800 employees and an aggressive Brazil growth strategy, the company aims to deepen its presence in the region’s fast-growing fintech market.
“This acquisition strengthens our capabilities in Brazil’s digital finance sector,” said Evertec CEO Mac Schuessler, emphasizing the company’s commitment to innovation and financial inclusion.
Tecnobank President Renata Herani called the partnership “a shared vision for the future of digital finance in Brazil,” noting opportunities to scale innovation and drive transformation in vehicle financing.
The transaction will be financed through Evertec’s existing liquidity, with options to acquire the remaining 25% stake in the future.
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