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.
- The deal is expected to close pending customary conditions.
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
Frequently asked questions
When did Magazine Luiza announce the acquisition of Hub Fintech?
Magazine Luiza announced the acquisition of Hub Fintech on December 21, 2020.
What sub-sector is Hub Fintech in?
Hub Fintech is tracked in the BaaS sub-sector.
Sources
- canaltech.com.br /negocios/magalu-adquire-fintech-e-passa-a-oferecer-conta-bancaria-digital-176577/