LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Credicorp’s Krealo Acquires 100% stake of Chilean Multicaja’s Digital Business Unit for US$19m

March 27, 2019

Krealo, Credicorp’s open innovation arm, acquired the digital business unit of Chilean payments company Multicaja for US$19m.

(Press Release) Lima, PERU, March 27th, 2019 – Credicorp Ltd. announces to its shareholders and the market that Krealo, a subsidiary of Credicorp, has agreed to pay approximately US$ 19 million to acquire 100% stake of Multicaja’s digital business unit. The payment will be made in two installments, 50% in 2019 and the remaining in 2020. The transaction is subject to compliance with certain conditions precedent and approvals.

Multicaja is a Chilean payment-acquiring company founded in 2007 with a wide presence in Chile through more than 17,000 affiliated merchants and 700,000 online users. Multicaja processes over 115 million transactions per year. The digital business unit of Multicaja comprises: support services to cross-border payments, online top-ups, online utility payments, and pre-paid accounts. The prepaid account business requires a regulatory approval from SBIF (the Chilean Banking Supervisor).

This acquisition represents the first investment of Krealo in Chile.

About Credicorp (www.credicorpnet.com)

Credicorp Ltd. (NYSE: BAP) is the leading financial holding in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio, which is organized into four lines of business: Universal Banking, through Banco de Credito del Peru-BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco and Encumbra; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.

About KREALO (www.krealo.pe)

Krealo is the business unit of Credicorp constituted in 2018 to create, invest and manage fintechs that provide digital products and services, which will enhance the value proposition offered to current and potential customers of Credicorp and its subsidiaries. Krealo aims to serve over one hundred million of customers in Peru, Chile and Colombia.

For further information please contact the IR team:

[email protected]

Investor Relations
Credicorp Ltd.

Credicorp’s Krealo Acquires 100% stake of Chilean Multicaja’s Digital Business Unit for US$19m was last modified: April 3rd, 2019 by Editor
ChileCredicorpDealsFintechKrealoMulticajaPeruVCVenture Capital
0
Facebook Twitter Google +

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

Tweets

  • #LAVCAWeek2022 is taking place in person Oct. 11-14 in NYC! Speakers include: Tania Sztamfater Chocolat (… https://t.co/uNg10qSqwx

    09-Aug-2022

    Reply Retweet Favorite
  • Today's top takeaways from the #LatAmVentureBulletin: https://t.co/JY9CRvO0hW https://t.co/KUabMLOT2U

    05-Aug-2022

    Reply Retweet Favorite
  • Leading VCs and tech investors active in Brazil are invited to join LAVCA's #EncontroAnualBrasil. Program highlight… https://t.co/9vWiCTnyuh

    05-Aug-2022

    Reply Retweet Favorite
  • Registration for #LAVCAWeek2022 is now open for all qualified institutional investors LAVCA Members and non-members… https://t.co/iiv4YQSuUc

    03-Aug-2022

    Reply Retweet Favorite
  • In July 2020, Crescera Capital invested ~USD72m in Grupo Zelo, a Brazil-based funeral services provider for familie… https://t.co/HXof8eS4PS

    02-Aug-2022

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Office

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10018

Explore LAVCA.org

  • About LAVCA
  • Board, Team, & Advisors
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2020 - LAVCA. All Rights Reserved.


Back To Top