Banco Pan, controlled by BTG Pactual (of the same controlling group as Then24.com), bought Mosaico, a technology company that owns the Buscapé, Zoom and Bondfaro consumer sites. The operation will be fully carried out via exchange of shares. As a result, the idea is for PAN to become a more complete banking and consumer platform in Brazil.
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This ecosystem enables a unique value proposition, which starts with choosing and purchasing the best products, with cashback on the best price and the best payment and credit conditions.
“We have always had a lot of admiration for Mosaico, for its purpose and for the entrepreneurial skill of its controllers. We are convinced that together we can build something much bigger. We are very excited to have the Mosaico team, which leverages our technology and product development skills.” says Carlos Eduardo Guimarães, Cadu, CEO of PAN.
With the transaction, Mosaico’s key shareholders will become PAN executives and one of them will become a member of the board of directors. All will have lock-up on the shares received for a period of 18, 24 and 30 months (1/3 on each date).
“The banking business has a very large natural recurrence and this is the holy grail of e-commerce. By joining PAN, we generate the lock-in of this consumer within this ecosystem that we are creating. The BTG Pactual group has always supported us and it is an honor to be part of a project of this magnitude”, highlights Guilherme Pacheco, co-founder and chairman of the Board of Directors of Mosaico.
The new Marketplace is born with R$ 4.2 billion of GMV/year, on a proprietary platform that has exclusive tools such as: cashback on the best price, price alert, expert content, price comparison with over 112 million offers, 400 end-to-end integrated stores and buy now pay later already operational that will be scaled with PAN’s credit expertise.
In addition, an exclusive credit card with cashback will be launched, and there will be integration with the Mobiauto platform (recently acquired by PAN), expanding the range of products offered and strengthening the group’s vehicle ecosystem.
“This operation is transformational. We have the largest credit portfolio among all digital banks in Brazil, in addition to a complete range of financial products and services. With the acquisition, we now have 35 million customers, account holders and non-account holders, and we have greatly expanded our portfolio of non-financial products,” says Cadu.
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