Fiserv, US-based provider of payments, has announced that it has entered into a definitive agreement to acquire Money Money, a fintech firm based in Brazil.

The acquisition aims to broaden Fiserv’s service offerings in the country, particularly for SMBs seeking access to capital to support business growth.

Money Money operates a financing platform that is connected to Brazil’s receivables registry infrastructure, regulated by the Central Bank of Brazil.

It offers working capital and other financial solutions tailored to SMBs, leveraging technology and business analysis to assess clients.

Its capabilities are expected to complement Clover’s focus on supporting Brazilian SMBs with their payment, business management, and cash flow requirements.

Following the launch of Clover in Brazil, the new offering, Clover Capital, powered by Money Money, will be integrated into the Clover platform.

The service will use risk analysis and performance forecasting to deliver customised capital solutions to businesses, with repayment plans structured around future receivables from past sales.

“By adding this service to our portfolio, we take an important step to boost the growth of our acquiring clients, facilitating their access to the necessary resources to invest in improvements and processes,”

said Jorge Valdivia, General Manager of Fiserv in Brazil.

“Our continued investment in the Brazilian market demonstrates our commitment to advance our clients’ business objectives by expanding our local capabilities.”

Clover was first introduced in Brazil in December, offering an integrated payment solution that includes cash flow support, native applications, and access to a marketplace of automation tools developed by independent software vendors (ISVs).

Featured image credit: edited from freepik