Zigpay and netPDV announce merger to form the largest global cashless company
This is the biggest movement within the cashless market for entertainment, with the union of two Brazilian companies
Zigpay and netPDV announce merger: Zigpay, a Brazilian fintech specialized in consumption management, offers the most modern solutions for nightclubs, bars, restaurants and events in the Brazilian market, now announces the merger with netPDV, a pioneering Brazilian company in offering cashless payment solutions for large and mega events held in Brazil, Latin America, United States and Europe.
The merger comes right after fintech’s recent investment round, announced in August 2021, in which Zigpay raised R$ 40 million from investors such as Edgard and Diogo Corona, from SmartFit, and Ricardo Goldfarb, from Lojas Marisa. “We are creating a company that was born with the support of large investors who believe in our growth potential”, evaluates Nerope Bulgareli, CEO of Zigpay.
This is the biggest movement within the cashless market, with the union of two Brazilian companies that complement each other and aim to be the largest global cashless company in the event and entertainment sector. “Our greatest ambition is, in addition to becoming the largest cashless entertainment company in the world, to offer the end user the best experiences in their moments of fun”, comments Bruno Lindoso, CEO of netPDV.
How did the merger take place?
The conversation between Zigpay and netPDV started in 2019, when, in an informal meeting between shareholders, it was discovered that there was mutual admiration and respect for each other’s work and a complementarity of action. At that time, there was an opportunity for two major players in the cashless market to come together and offer a 360º solution for the customers and continue to focus on developing new products and solutions, and on national and international expansion.
“We started with an unpretentious conversation, but gradually it became clear that a strategic alliance would make total sense. We have similar values, a similar trajectory and the same long-term goals. Even in the midst of the pandemic, conversations and negotiations did not stop and a few meetings were enough to understand that the merger would be the best for everyone. It will allow the organization to plan the growth exponentially, being a great strategy to differentiate itself through this merger. Now, the focus is to keep on moving the sector with our 360º solutions, bringing the best experiences to our customers”, says Nérope Bulgareli, CEO of Zigpay.
This merger is another step in the changing movement that the two companies want to print in Brazil and abroad. The business combination will allow the new company to transact more than R$ 2 billion in TPV (total volume transacted) in the next year, intensify global expansion projects and quadruple the current workforce, generating approximately 200 new jobs. By the end of 2022, an investment of R$ 80 million is planned to develop these projects. “Our agenda includes the operations consolidation in Brazil, where we will have 13 branches by the end of 2021, in addition to moving forward with global expansion, with offices opening in Portugal, Mexico and other countries in both Europe and Latin America”, reveals Lindoso.
The new company’s executive board will be composed of two CEOs: Nérope Bulgareli, CEO of Zigpay, and Bruno Lindoso, CEO of netPDV, in addition to the partners and directors/executive managers already designated to the new company, who wil temporarily work with the two brands, until the new brand definition. This management configuration will allow the expansion plans execution in the national and international market. “Our objective with this merger is to differentiate ourselves and to become the largest global player in offering entertainment solutions, and for that we are going to bet on a company with two CEOs, working in synergy with one another”, explains Bulgareli.
Immediately, the new company is already born with a portfolio increase, since both companies operate in different entertainment segments. Zigpay offers solutions for restaurants, bars, concert halls and events, and netPDV serves large and mega-events, such as Brazilian Formula 1 Grand Prix, Lollapalooza, Rock’in Rio, Oktoberfest Blumenau and many others. So, the solutions of one company can serve the customers of the other and vice versa, positively impacting the entire entertainment market.