Experian buys majority stake in Brazilian fintech MOVA
Dublin-based Experian, a global information services company, has agreed to acquire a majority stake in Brazilian fintech MOVA.
MOVA provides any company, including non-banks, with the expertise and technology to perform data-driven credit assessments of their small and medium-sized enterprise (SME) clients.
Experian provides solutions that help individuals take financial control and gain access to financial services. The firm also enables businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
The global firm says they will buy a 51% stake in MOVA from Érico Sodre Quirino, a private investor, and Roberto Tesch, founder and CEO for $7.9 million by way of a capital injection into MOVA.
According to the agreement terms, Experian also has a call option to acquire the remaining 49% stake between 2026 and 2028, while the sellers have a put option exercisable in 2029.
The transaction is expected to be funded from Experian’s existing cash resources and is subject to approval by the regulatory authorities in Brazil.