Transaction · BaaS · 2020

Magazine Luiza / Hub Fintech 2020

Magazine Luiza acquired Hub Fintech on December 21, 2020.

Target: Hub Fintech
Acquirer: Magazine Luiza
Announced: December 21, 2020
Sub-sector: BaaS

Transaction overview

Magazine Luiza announced the acquisition of Hub Fintech on December 21, 2020.

Strategic rationale

Acquire regulated BaaS platform and prepaid card processor to accelerate digital banking and payments integration across Magalu's superapp and seller marketplace.

Deal terms & multiples

Deal value: Not disclosed
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: December 21, 2020
Acquirer: Magazine Luiza (Strategic)
Sub-sector: BaaS

Sources

canaltech.com.br /negocios/magalu-adquire-fintech-e-passa-a-oferecer-conta-bancaria-digital-176577/

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