LatAm-Based Belvo Acquires Skilopay
Gunderson Dettmer represented client Belvo, a Latin America-based open banking API platform, in the acquisition of Skilopay, a Brazilian payment institution that allows customers to deposit and transfer through account-to-account payments.
Belvo works with over 150 clients in Brazil, Mexico and Colombia, including large financial institutions, neobanks, lenders and ERP companies. The acquisition will enable Belvo to further develop its strategic position as a leading account-to-account payments provider in Brazil and the rest of Latin America.
In the announcement of the transaction, Belvo’s general manager Albert Morales said, “We are excited to announce the acquisition of Skilopay in Brazil. Thanks to Skilopay’s expertise around Pix payments, we are now able to offer a more complete set of payment solutions to our customers in Brazil. Our aim is to provide companies with easier ways of receiving, holding and sending money through account-to-account payment rails in Latin America and this acquisition brings us one step closer to achieving that goal.”
The Gunderson Dettmer deal team was led by Dan Green and Brian Willbur and included Maurice Osei.