PicPay announces purchase of fintech Guiabolso in bet on open banking

The payment company PicPay announced this Friday (23.Jul.2021) the purchase of fintech Guiabolso, in a new bet on open banking in Brazil. The value of the operation was not disclosed. With the acquisition, all 6 million users and R$ 1 billion in credit granted by Guiabolso partners will be incorporated into PicPay. For the time being, both applications will continue to work separately. “The acquisition aims to position PicPay as a protagonist of open banking, in addition to accelerating our financial marketplace operation, which already has a card, personal credit and loans between people”, he says the company’s CEO, José Antonio Batista. The approximately 200 employees of Guiabolso –who mostly work with technology and data– will be integrated into the PicPay team. continue reading