Business

Brazilian Linx acquires fintech PinPag

With a 17 thousand customer base, PinPag will help Linx to enhance its payments portfolio

The New York Stock Exchange in Lower Manhattan in New York is decorated with a banner for the Linx initial public offering
Brazilian-based Linx acquires fintech PinPag. Photo: Shutterstock

Brazilian management software company and the largest software house in retail management systems in Latin America, Linx has just added another player to enhance its operations: the fintech PinPag

The acquisition, which was made through the subsidiary Linx Pay, has cost BRL 135 million, and can be increased up to BRL 65 million more if the company beats its financial goals for 2021 and 2022. The information is from the Brazilian media outlet Valor Econômico

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Focused on electronic payments, PinPag offers tailored solutions for the retail sector and has a 17 thousand customer base in its portfolio. The fintech reached BRL 68.5 million in revenues in 2019.

For the Brazilian software company, the acquisition represents a great opportunity for growth and it will boost its financial services, called Linx Pay Hub.