Payface , a facial biometric payments company, announced its first acquisition this week. Fintech bought SmileGo , a startup specialising in onboarding payments and facial recognition focused on the white label card market. The value and terms of the transaction were not disclosed.
The deal comes just over three months after the announcement of the Series A extension, valued at R$15 million, which led to the raising of Revolution, an Oasis Ventures fund. The round, which totalled R$ 45 million, was led by a BTG Pactual fund, with the participation also of Hi Partners and the multifamily office Oikos .
Founded in 2021, SmileGo was part of RPE , which processes proprietary cards for about 60 retailers, and Vsoft , a biometric technology provider. According to the companies, the move will allow Payface to bring its technology to several SmileGo customers, including names such as Grupo Pereira , Condor and Oscar Calçados .
In a press release, Eládio Isoppo, CEO and co-founder of Payface, recalls the synergy between the two companies. According to him, the acquisition can significantly expand the offer to the public.
"We quickly understood the complementarities that existed between the two companies," he said.
With the deal, Victor Braz, former CEO of SmileGo, takes over as head of closed deals at Payface. "The union of Payface and SmileGo reinforces our intent to enhance the experience and security of retail shopping journeys through the use of facial biometrics, and comes to expand and accelerate this movement," he said in the statement.
Payface also reports that biometric payments can offer benefits to card issuers, for example by increasing the level of security in transactions. Therefore, in the coming months the idea is to reach 1 million active users per month.
In addition, direct integration with RPE (Dock's strategic partner) and retailers who already capture biometric data in the process of subscribing to financial products means that users do not have to download the Payface application, simplifying the use of the solution. The company even expects to announce the first customers for the new product in the next 30 days.
Founded in Florianópolis (SC) in 2018, Payface developed facial biometrics technology to make payments at retail outlets (supermarkets and pharmacies, for example) faster, simpler and more secure. The solution is present in networks such as St. Marché , Zona Sul and Prezunic , of the Cencosud Group . The expectation is to reach 2,000 POS integrated with the technology by the end of this year.
The fintech is also developing payment with face through Pix. In this regard, it is awaiting authorisation from the Central Bank (BC) to operate as an initiator of payment transactions (ITP), as Eládio revealed to Finsiders, in conversation with the portal about a year ago.
Payface , a facial biometric payments company, announced its first acquisition this week. Fintech bought SmileGo , a startup specialising in onboarding payments and facial recognition focused on the white label card market. The value and terms of the transaction were not disclosed.
The deal comes just over three months after the announcement of the Series A extension, valued at R$15 million, which led to the raising of Revolution, an Oasis Ventures fund. The round, which totalled R$ 45 million, was led by a BTG Pactual fund, with the participation also of Hi Partners and the multifamily office Oikos .
Founded in 2021, SmileGo was part of RPE , which processes proprietary cards for about 60 retailers, and Vsoft , a biometric technology provider. According to the companies, the move will allow Payface to bring its technology to several SmileGo customers, including names such as Grupo Pereira , Condor and Oscar Calçados .
In a press release, Eládio Isoppo, CEO and co-founder of Payface, recalls the synergy between the two companies. According to him, the acquisition can significantly expand the offer to the public.
"We quickly understood the complementarities that existed between the two companies," he said.
With the deal, Victor Braz, former CEO of SmileGo, takes over as head of closed deals at Payface. "The union of Payface and SmileGo reinforces our intent to enhance the experience and security of retail shopping journeys through the use of facial biometrics, and comes to expand and accelerate this movement," he said in the statement.
Payface also reports that biometric payments can offer benefits to card issuers, for example by increasing the level of security in transactions. Therefore, in the coming months the idea is to reach 1 million active users per month.
In addition, direct integration with RPE (Dock's strategic partner) and retailers who already capture biometric data in the process of subscribing to financial products means that users do not have to download the Payface application, simplifying the use of the solution. The company even expects to announce the first customers for the new product in the next 30 days.
Founded in Florianópolis (SC) in 2018, Payface developed facial biometrics technology to make payments at retail outlets (supermarkets and pharmacies, for example) faster, simpler and more secure. The solution is present in networks such as St. Marché , Zona Sul and Prezunic , of the Cencosud Group . The expectation is to reach 2,000 POS integrated with the technology by the end of this year.
The fintech is also developing payment with face through Pix. In this regard, it is awaiting authorisation from the Central Bank (BC) to operate as an initiator of payment transactions (ITP), as Eládio revealed to Finsiders, in conversation with the portal about a year ago.
Payface , a facial biometric payments company, announced its first acquisition this week. Fintech bought SmileGo , a startup specialising in onboarding payments and facial recognition focused on the white label card market. The value and terms of the transaction were not disclosed.
The deal comes just over three months after the announcement of the Series A extension, valued at R$15 million, which led to the raising of Revolution, an Oasis Ventures fund. The round, which totalled R$ 45 million, was led by a BTG Pactual fund, with the participation also of Hi Partners and the multifamily office Oikos .
Founded in 2021, SmileGo was part of RPE , which processes proprietary cards for about 60 retailers, and Vsoft , a biometric technology provider. According to the companies, the move will allow Payface to bring its technology to several SmileGo customers, including names such as Grupo Pereira , Condor and Oscar Calçados .
In a press release, Eládio Isoppo, CEO and co-founder of Payface, recalls the synergy between the two companies. According to him, the acquisition can significantly expand the offer to the public.
"We quickly understood the complementarities that existed between the two companies," he said.
With the deal, Victor Braz, former CEO of SmileGo, takes over as head of closed deals at Payface. "The union of Payface and SmileGo reinforces our intent to enhance the experience and security of retail shopping journeys through the use of facial biometrics, and comes to expand and accelerate this movement," he said in the statement.
Payface also reports that biometric payments can offer benefits to card issuers, for example by increasing the level of security in transactions. Therefore, in the coming months the idea is to reach 1 million active users per month.
In addition, direct integration with RPE (Dock's strategic partner) and retailers who already capture biometric data in the process of subscribing to financial products means that users do not have to download the Payface application, simplifying the use of the solution. The company even expects to announce the first customers for the new product in the next 30 days.
Founded in Florianópolis (SC) in 2018, Payface developed facial biometrics technology to make payments at retail outlets (supermarkets and pharmacies, for example) faster, simpler and more secure. The solution is present in networks such as St. Marché , Zona Sul and Prezunic , of the Cencosud Group . The expectation is to reach 2,000 POS integrated with the technology by the end of this year.
The fintech is also developing payment with face through Pix. In this regard, it is awaiting authorisation from the Central Bank (BC) to operate as an initiator of payment transactions (ITP), as Eládio revealed to Finsiders, in conversation with the portal about a year ago.
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