EntrePay grows and BC authorizes R$134.665 million capital increase

The Central Bank has authorized EntrePay, Grupo Entre's means of payment company, to increase its capital by R$134.665 million, from R$351.712 million to R$486.378 million. The news was published by Uol.

The approval of the process, signed by the head of the Financial System Organization and Resolution Department, Carolina Pancotto Bohrer, was released on Thursday, January 23, 2025.

The company, which supplies card machines with clients' own brands, recorded a total payment volume (TPV) of around R$3.5 billion in the third quarter of 2024, an increase of 17% over the second quarter of the year and 63% over the same period in 2023, as published by O Estado de S.Paulo.

The company's number of clients has risen from 38 at the end of 2023 to 98 today. Among them are companies such as Vivo, Will Bank, Banco do Nordeste (BNB), Banco do Estado do Pará (Banpará) and clothing manufacturer Malwee.

One of EntrePay's strategies is to invest in partnerships to explore underserved markets and diversify the services it offers. One example is the agreement with BNB, which turns the machines into "minibanks". As well as selling their products, the merchant can provide banking services, such as paying bills.

According to the company, it is also possible to offer various services from the Entre holding company, of which EntrePay is a part, such as insurance, including health insurance, capitalization bonds, credit and consortia. The group brings together companies from the financial and media sectors.

"We're concentrating our efforts on regions and sectors that still don't have a comprehensive service infrastructure from the big banks, expanding access to financial services to a larger portion of the population," said EntrePay CEO Antônio Freixo.

The full stories can be found here and here.