Evertec deepens Latin America push with Brazil M&A, Chile contract

Puerto Rico-based fintech and payment processing company Evertec continues to expand in Latin America, now through new moves in Brazil and Chile.

In Brazil, the company signed an agreement to acquire a 67% stake in blockchain infrastructure startup BBChain for 28 million reais (US$5.6mn), pending approval from Brazil's antitrust authority Cade.

Founded in São Paulo in 2018, BBChain develops blockchain infrastructure, digital custody technologies and tokenization solutions for financial institutions and capital markets participants.

Evertec said the acquisition will strengthen its capabilities in digital assets, token and blockchain in Brazil, where the company has been expanding since acquiring software provider Sinqia in 2023 for US$591mn.

The BBChain transaction will be structured in two phases, with Evertec taking control at closing. The remaining stake will depend on future performance targets.

Transbank

Separately, Evertec announced a strategic agreement with Chilean payment processor Transbank to support part of its acquiring and payment infrastructure operations.

Under the agreement, Evertec will provide processing and technology services to Transbank, one of Chile's main payment processing companies and a major client of local AWS infrastructure. The companies did not disclose financial details.

Historically concentrated in payment processing and transaction services in Puerto Rico and the Caribbean, Evertec has pushed ahead a regional expansion in recent years through acquisitions and partnerships.

The company's largest move to date came with the acquisition of Brazilian financial software provider Sinqia.

Since then, Evertec has used Brazil as a base to expand software and financial infrastructure offerings to other regional markets, while also resuming acquisitions in the country.

In 2025, Evertec Brasil acquired a 75% stake in Tecnobank, a Brazilian company specializing in digital registration of financing contracts, in a deal reportedly valued at around R$790mn (US$143mn). 

Evertec operates in 26 countries and territories across Latin America and the Caribbean and processes more than 6 billion transactions annually, according to company information.