Corpay to Acquire Leading Brazilian Mobile Payments Company
Corpay (NYSE: CPAY) has announced the signing of definitive documents to acquire Gringo, a leading Brazilian vehicle registration and compliance payment company. Gringo operates as a super app for car drivers in Brazil, facilitating instant payments for vehicle taxes, registration, and fines through its digital platform and national network.
The acquisition marks Corpay's second deal in the 'car debts' category. Gringo currently serves 2.5 million monthly active users and is experiencing over 30% annual revenue growth. The car debts addressable segment is approximately three times larger than tolls and less penetrated, offering significant growth potential.
The deal is expected to increase Brazil's overall organic revenue growth rate by three percentage points this year. Corpay plans to integrate its full suite of vehicle payment products, including tolls, fuel, parking, and insurance, with Gringo's platform. The transaction is pending regulatory approval and anticipated to close near the end of Q1 2025.
Corpay (NYSE: CPAY) ha annunciato la firma di documenti definitivi per acquisire Gringo, una delle principali aziende brasiliane nel settore della registrazione dei veicoli e dei pagamenti per la conformità. Gringo funziona come un super app per i conducenti di auto in Brasile, facilitando pagamenti istantanei per tasse sui veicoli, registrazioni e multe attraverso la sua piattaforma digitale e la rete nazionale.
L'acquisizione segna il secondo affare di Corpay nella categoria 'debiti auto'. Attualmente, Gringo serve 2,5 milioni di utenti attivi mensili e sta registrando una crescita annuale del fatturato superiore al 30%. Il segmento dei debiti auto è circa tre volte più grande rispetto ai pedaggi e meno penetrato, offrendo un significativo potenziale di crescita.
Si prevede che l'accordo aumenterà il tasso di crescita organica del fatturato in Brasile di tre punti percentuali quest'anno. Corpay prevede di integrare la sua gamma completa di prodotti di pagamento per veicoli, inclusi pedaggi, carburante, parcheggio e assicurazione, con la piattaforma di Gringo. La transazione è in attesa di approvazione normativa e si prevede di chiudere entro la fine del primo trimestre 2025.
Corpay (NYSE: CPAY) ha anunciado la firma de documentos definitivos para adquirir Gringo, una empresa brasileña líder en el registro de vehículos y en los pagos de cumplimiento. Gringo opera como una superaplicación para conductores en Brasil, facilitando pagos instantáneos para impuestos sobre vehículos, registros y multas a través de su plataforma digital y red nacional.
La adquisición marca el segundo acuerdo de Corpay en la categoría de 'deudas de automóviles'. Actualmente, Gringo sirve a 2,5 millones de usuarios activos mensuales y experimenta un crecimiento anual de ingresos de más del 30%. El segmento de deudas de automóviles es aproximadamente tres veces más grande que los peajes y está menos penetrado, ofreciendo un significativo potencial de crecimiento.
Se espera que el acuerdo aumente la tasa de crecimiento orgánico de ingresos de Brasil en tres puntos porcentuales este año. Corpay planea integrar su suite completa de productos de pago para vehículos, incluidos peajes, combustible, estacionamiento y seguros, con la plataforma de Gringo. La transacción está pendiente de aprobación regulatoria y se anticipa que se cierre cerca del final del primer trimestre de 2025.
Corpay (NYSE: CPAY)는 브라질의 선도적인 차량 등록 및 준수 결제 기업인 Gringo를 인수하기 위한 최종 문서에 서명했다고 발표했습니다. Gringo는 브라질에서 자동차 운전자를 위한 슈퍼 앱으로 작동하며, 디지털 플랫폼과 전국 네트워크를 통해 차량 세금, 등록 및 벌금에 대한 즉시 결제를 용이하게 합니다.
이번 인수는 '자동차 채무' 범주의 Corpay의 두 번째 거래를 나타냅니다. 현재 Gringo는 250만 명의 월간 활성 사용자를 보유하고 있으며 30% 이상의 연간 수익 성장률을 기록하고 있습니다. 자동차 채무 시장은 톨게이트보다 세 배 더 크고 침투율이 낮아 상당한 성장 잠재력을 제공합니다.
이번 거래는 올해 브라질의 전체 유기적 수익 성장률을 3%p만큼 증가시킬 것으로 예상됩니다. Corpay는 Gringo 플랫폼과 함께 톨게이트, 연료, 주차 및 보험 포함한 차량 결제 제품의 전체 제품군을 통합할 계획입니다. 이 거래는 규제 승인을 기다리고 있으며 2025년 1분기 말에 마무리될 것으로 예상됩니다.
Corpay (NYSE: CPAY) a annoncé la signature de documents définitifs pour acquérir Gringo, une entreprise brésilienne de premier plan spécialisée dans l'enregistrement des véhicules et les paiements de conformité. Gringo fonctionne comme une super application pour les conducteurs au Brésil, facilitant les paiements instantanés pour les taxes de véhicule, l'enregistrement et les amendes via sa plateforme numérique et son réseau national.
L'acquisition marque le deuxième accord de Corpay dans la catégorie des 'dettes de voiture'. Gringo sert actuellement 2,5 millions d'utilisateurs actifs mensuels et connaît une croissance annuelle du chiffre d'affaires de plus de 30%. Le segment des dettes de voiture est environ trois fois plus grand que les péages et moins pénétré, offrant un potentiel de croissance significatif.
On s'attend à ce que l'accord augmente le taux de croissance organique des revenus au Brésil de trois points de pourcentage cette année. Corpay prévoit d'intégrer toute sa gamme de produits de paiement de véhicules, y compris les péages, le carburant, le stationnement et les assurances, à la plateforme de Gringo. La transaction est en attente de l'approbation réglementaire et devrait se clore près de la fin du premier trimestre 2025.
Corpay (NYSE: CPAY) hat die Unterzeichnung von endgültigen Dokumenten zur Übernahme von Gringo, einem führenden brasilianischen Unternehmen für Fahrzeugregistrierung und Compliance-Zahlungen, bekannt gegeben. Gringo fungiert als Super-App für Autofahrer in Brasilien und erleichtert sofortige Zahlungen für Fahrzeugsteuern, Registrierungen und Bußgelder über seine digitale Plattform und das nationale Netzwerk.
Die Übernahme ist der zweite Deal von Corpay im Bereich 'Autowünsche'. Gringo hat derzeit 2,5 Millionen aktive Nutzer pro Monat und verzeichnet ein jährliches Umsatzwachstum von über 30%. Das adressierbare Segment für Autowünsche ist etwa dreimal so groß wie die Mautgebühren und weniger durchdrungen, was erhebliches Wachstumspotenzial bietet.
Mit dem Deal wird erwartet, dass die organische Umsatzwachstumsrate in Brasilien in diesem Jahr um drei Prozentpunkte steigt. Corpay plant, sein vollständiges Sortiment an Fahrzeugzahlungsprodukten, einschließlich Mautgebühren, Kraftstoff, Parkgebühren und Versicherungen, in die Plattform von Gringo zu integrieren. Die Transaktion steht noch unter dem Vorbehalt der behördlichen Genehmigung und soll Ende des ersten Quartals 2025 abgeschlossen werden.
- Gringo's revenue growing over 30% annually
- Expands addressable market (TAM) by 3x
- Expected to add 3 percentage points to Brazil's organic revenue growth
- Access to 2.5 million monthly active users
- Significant cross-selling opportunities for additional vehicle payment products
- Transaction requires regulatory approval
- Deal closing delayed until Q1 2025
Insights
This strategic acquisition represents a transformative move for Corpay in Brazil's vehicle payments ecosystem. The deal's significance lies in three key aspects:
Market Expansion & Growth Acceleration: By entering the car debts segment, Corpay gains access to a vastly underserved market that's triple the size of their existing tolls business. Gringo's impressive
Strategic Integration & Cross-selling: The acquisition provides immediate access to 2.5M monthly active users through Gringo's super app. The opportunity to cross-sell Corpay's complete vehicle payment suite (tolls, fuel, parking, insurance) to this engaged user base represents significant revenue potential. Conservative estimates suggest a
Market Positioning & Competitive Advantage: This marks Corpay's second acquisition in the car debts category, following Zapay. This consolidation strategy strengthens their competitive position in Brazil's fragmented vehicle payments market. The deal creates a comprehensive vehicle payments ecosystem, raising barriers to entry and potentially leading to improved pricing power.
The Q1 2025 expected closing timeline allows adequate preparation for integration, though regulatory approval remains a key milestone to monitor. The transaction represents a strategic fit with Corpay's expansion strategy and positions them as a dominant player in Brazil's vehicle payments market.
The Brazilian vehicle payments market presents a compelling growth opportunity, with several structural advantages supporting this acquisition:
Digital Transformation Catalyst: Brazil's vehicle compliance payments sector remains largely analog, with digital penetration below
Market Infrastructure Benefits: The combination of Gringo's national network and digital platform creates significant operational leverage. This infrastructure allows for rapid scaling while maintaining cost efficiency, particularly important in Brazil's geographically diverse market.
Regulatory Compliance Advantage: Brazil's complex vehicle registration and compliance requirements create high barriers to entry. Gringo's established relationships with regulatory bodies and proven compliance track record provide Corpay with immediate credibility and operational capabilities in this highly regulated space.
The deal's timing aligns with Brazil's accelerating digital payments adoption, particularly in regulatory and compliance-related transactions. The integration of Gringo's capabilities with Corpay's existing portfolio creates a comprehensive vehicle payments ecosystem, positioning them to capture a significant share of Brazil's digital payments transformation.
Triples TAM, Accelerates Revenue Growth
Gringo is a super app for car drivers that makes life easier for millions of drivers in
“We’re thrilled to announce the acquisition of Gringo, our second deal in the 'car debts' category,” said Ron Clarke, chairman and chief executive officer, Corpay, Inc.
“We’re doubling down in this space for three primary reasons. First, the car debts addressable segment is approximately three times larger than tolls, and significantly less penetrated. So, it gives us an enormous runway.
“Second, we expect our new car debts segment (including previously acquired Zapay) to increase Brazil’s overall organic revenue growth rate by three percentage points this year. And, it will be a meaningful contributor to future growth.
“And third, we plan to offer our full suite of vehicle payment products including tolls, fuel, parking and insurance to Gringo’s 2.5 million monthly active users. We expect significant synergies from integrating it within our
The transaction is subject to regulatory approval and is expected to close near the end of the first quarter of 2025.
About Corpay
Corpay (NYSE: CPAY), the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, business cards, fleet cards, virtual cards) and AP automation solutions (e.g., invoice digitization, payments automation, cross border payments) to businesses worldwide. Our solutions result in our customers saving time, mitigating fraud, and ultimately spending less. To learn more visit www.corpay.com
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Investor Relations
Jim Eglseder, 770-417-4697
Jim.Eglseder@corpay.com
Media Relations
Chad Corley, 770-729-5021
Chad.Corley@corpay.com
Source: Corpay, Inc.
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