Fiserv has agreed a deal to by Money Money, a Brazilian fintech providing working capital to small businesses. Financial terms were not disclosed.
Money Money operates a specialised financing engine connected to the receivables’ registry infrastructure regulated by the Brazil Central Bank to provide working capital and other financial offerings to SMBs.
Fiserv's move to buy the firm comes months after it launched its Clover PoS technology in Brazil.
Clover Capital fuelled by Money Money will be integrated with the Clover platform to combine risk analysis technology with the predictive performance of clients’ businesses to generate personalised offers.
"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,” says Jorge Valdivia, GM, Fiserv in Brazil.