Sinqia Doubling Investments, Accelerating M&A as Software Provider Grows

21 Mar, 2024

Sinqia Doubling Investments, Accelerating M&A as Software Provider Grows

After being acquired by Puerto Rican Evertec, Brazilian software provider Sinqia is poised to ramp up its investments and accelerate mergers and acquisitions (M&A) initiatives. Claudio Prado, set to become the managing director in Brazil as of April, disclosed plans to double investments for the year ahead. Collaborative efforts between the two entities are underway to navigate regulatory hurdles and integrate Sinqia's software offerings into Evertec's Latin American customer base while introducing Evertec's payment solutions to Brazil.

Prado emphasizes the strategic benefits of this partnership, citing mutual gains for both companies in terms of market presence and access to capital. Sinqia now constitutes a significant portion of the group's global revenues, reflecting its substantial growth trajectory. With a history of 24 acquisitions, Sinqia remains committed to pursuing further expansion through strategic mergers.

Bernardo Gomes, Sinqia's founder and CEO for 27 years, is stepping down, with Prado assuming a pivotal leadership role. Having a rich history with Sinqia, Prado's extensive experience in banking and previous association with the company positions him well for this transition. Sinqia's offerings span various financial segments, with plans to extend operations initially to Chile and Colombia.

Integration efforts are underway, with a focus on maintaining autonomy while leveraging synergies between the two organizations. Prado underscores the importance of compliance with regulatory standards and the adaptability of digital solutions in facilitating expansion efforts. Amidst ongoing integration, Sinqia remains committed to serving its clients with enhanced services and maintaining its distinctive culture.