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February 23, 2022

Edenred acquires controlling interest in Brazil’s Greenpass

French prepaid corporate services provider Edenred has acquired a controlling interest in Brazil-based electronic toll solutions provider Greenpass through its Brazilian subsidiary Ticket Log.

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2022: So far In Venture Capital

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Under the terms of the agreement, Edenred will make an initial payment of approximately BRL80m for 51% of Greenpass. The firm will have the option to raise its holding in the future.

Founded in 2017, Greenpass develops, operates, and markets a RFID technology-based electronic toll solution that enables digital payments at toll stations across Brazil.

In addition to toll stations, this solution is also used in a network of around 130 parking lots.

Edenred said that the deal would bolster its technology and sales capabilities in the electronic toll solution market and offer significant cross-selling potential with its client base.

Edenred Fleet & Mobility Solutions COO Jean-Urbain Hubau said: “We’re proud to welcome the Greenpass teams to Edenred and integrate their offering into our multi-service ecosystem for fleet managers.

“With Greenpass, we’re considerably increasing our ability to address this high-potential market and bringing greater value to our existing clients through a simple, centralized experience with real-time access to vehicle data.”

Around 500,000 vehicles in Brazil adopted Greenpass technology last year.

As part of the partnership, Edenred will utilise its service quality, client portfolio, and sales expertise to increase this figure more than five-fold by 2025.

Additionally, the firm aims to offer enhanced fleet management services to its customers through integration of Greenpass’ API-enabled, cloud-based system into the Ticket Log platform.

Greenpass CEO Joao Cumerlato said: “We’re delighted to be joining Edenred, the leader in fleet and mobility solutions in Latin America.

“This deal will enable us to combine Ticket Log’s commercial fire power with our teams’ technological expertise and become a fully integrated part of its ecosystem of connected services so we can continue to expand and enrich our innovative offering on the dynamic Brazilian toll market.”

In 2018, Edenred signed a deal to buy US-based corporate payment solutions firm Corporate Spending Innovations for nearly $600m.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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