Fintech that develops BaaS Atar, has been acquired in a 74,6% by Porto Seguro

October 5, 2021
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Atar
Atar
Atar
Financial technology company
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Atar
Acquisition aims to promote product diversification and growth in the financial services segment.

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Porto Seguro announced today the acquisition of a 74.6% stake in Atar, which develops Banking as a Service (BaaS) solutions and banking infrastructure for companies. With the purchase of Atar, which will become part of Porto Seguro's ecosystem of financial solutions, the company reinforces its strategy of accelerating the transformation to the digital market.

The acquisition of Porto aims to consolidate the company's relevant participation in the segment of financial products and services, with the acquisition of a payment institution capable of developing digital solutions in an agile, eficient and scalable manner, including the digital account.

Atar will continue as an independent company, serving its customers and targeting growth in the BaaS market and banking infrastructure. Its headquarters will remain in Santa Catarina and partners Orlando Purim Junior, Mike Allan Pellin, Katia Benini and Rafael Triso will connue it in the operation.

Currently, Porto Seguro already offers a wide range of financial services to its clients, such as credit cards, vehicle financing, loans, consortia, investment management and private pension. This portfolio will be complemented by a digital account, developed to meet customer needs.

According to Marcos Loução, Vice President of Financial Products and Services at Porto Seguro, the acquisition is another important step in the strategy of accelerating the adoption of new technologies and diversifying the company's portfolio, which is increasingly seeking to offer solutions to improve and facilitate the customer experience.

“We are combining all the experience and strength of Porto Seguro with the technological solutions and capacity to innovate and scale of a startup to deliver the best financial services with the security that our consumers already know. Our digital account will make the link between credit products and financing with services and insurance”, explains the executive.

For Orlando Purim Junior, co-founder and CEO of Atar, the operation strengthens both companies. “Porto Seguro has in Atar a modern and scalable digital account engine, capable of processing the large volume of accounts to come, in addition to the know-how and quick adaptability of our time. Atar gains a strong customer and partner and will complete its BaaS product offering with Porto products, enabling its customers to create digital banks with insurance, loans and other services, in addition to those already offered. Atar's customers will now also be able to count on the solidity and security of the Porto Seguro group."

The negotiation has already been concluded and Porto Seguro will make an additional contribution to the development of new services and expansion of Atar's payment solutions platform.

About Porto Seguro


Porto Seguro is more than an insurance company, it is an ecosystem of protection services solutions with embedded technology, to improve and facilitate the customer experience. With over 70 years in the market, the company's operations are currently focused on four strategic business pillars: Insurance, Health, Financial Products and Services. In addition to 11 million unique customers, 14 thousand employees, 12 thousand providers and 35 thousand partner brokers, the company also has 101 branches and regional offices throughout Brazil. A total of 27 companies are part of the Porto Seguro universe – among them: Azul Seguros, Itaú Seguros de Auto e Residência, Porto Seguro Saúde, Porto Seguro Serviços and Porto Seguro Uruguay. In 2020, the company's net profit was R$ 1,695.8 million. The moment is one of accelerated growth and expansion of new business fronts to launch more and more innovative products and to be more and more a Porto Seguro for everyone.

About Atar


Atar is a financial technology company that has been in the market for 7 years. The company's main objective is to offer banking infrastructure and BaaS (Banking as a Service) for other companies to build digital banks, fintechs and payment operations. Atar has proprietary technology and is also connected to several banks and settlement partners, thus functioning as a hub for financial products and services. Through Atar's APIs, a complete payment and receipt structure can be created. Atar's customers range from fintechs to large companies from the most diverse areas, which are using the company's technology to build their own digital banks and payment solutions.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Porto Seguro announced today the acquisition of a 74.6% stake in Atar, which develops Banking as a Service (BaaS) solutions and banking infrastructure for companies. With the purchase of Atar, which will become part of Porto Seguro's ecosystem of financial solutions, the company reinforces its strategy of accelerating the transformation to the digital market.

The acquisition of Porto aims to consolidate the company's relevant participation in the segment of financial products and services, with the acquisition of a payment institution capable of developing digital solutions in an agile, eficient and scalable manner, including the digital account.

Atar will continue as an independent company, serving its customers and targeting growth in the BaaS market and banking infrastructure. Its headquarters will remain in Santa Catarina and partners Orlando Purim Junior, Mike Allan Pellin, Katia Benini and Rafael Triso will connue it in the operation.

Currently, Porto Seguro already offers a wide range of financial services to its clients, such as credit cards, vehicle financing, loans, consortia, investment management and private pension. This portfolio will be complemented by a digital account, developed to meet customer needs.

According to Marcos Loução, Vice President of Financial Products and Services at Porto Seguro, the acquisition is another important step in the strategy of accelerating the adoption of new technologies and diversifying the company's portfolio, which is increasingly seeking to offer solutions to improve and facilitate the customer experience.

“We are combining all the experience and strength of Porto Seguro with the technological solutions and capacity to innovate and scale of a startup to deliver the best financial services with the security that our consumers already know. Our digital account will make the link between credit products and financing with services and insurance”, explains the executive.

For Orlando Purim Junior, co-founder and CEO of Atar, the operation strengthens both companies. “Porto Seguro has in Atar a modern and scalable digital account engine, capable of processing the large volume of accounts to come, in addition to the know-how and quick adaptability of our time. Atar gains a strong customer and partner and will complete its BaaS product offering with Porto products, enabling its customers to create digital banks with insurance, loans and other services, in addition to those already offered. Atar's customers will now also be able to count on the solidity and security of the Porto Seguro group."

The negotiation has already been concluded and Porto Seguro will make an additional contribution to the development of new services and expansion of Atar's payment solutions platform.

About Porto Seguro


Porto Seguro is more than an insurance company, it is an ecosystem of protection services solutions with embedded technology, to improve and facilitate the customer experience. With over 70 years in the market, the company's operations are currently focused on four strategic business pillars: Insurance, Health, Financial Products and Services. In addition to 11 million unique customers, 14 thousand employees, 12 thousand providers and 35 thousand partner brokers, the company also has 101 branches and regional offices throughout Brazil. A total of 27 companies are part of the Porto Seguro universe – among them: Azul Seguros, Itaú Seguros de Auto e Residência, Porto Seguro Saúde, Porto Seguro Serviços and Porto Seguro Uruguay. In 2020, the company's net profit was R$ 1,695.8 million. The moment is one of accelerated growth and expansion of new business fronts to launch more and more innovative products and to be more and more a Porto Seguro for everyone.

About Atar


Atar is a financial technology company that has been in the market for 7 years. The company's main objective is to offer banking infrastructure and BaaS (Banking as a Service) for other companies to build digital banks, fintechs and payment operations. Atar has proprietary technology and is also connected to several banks and settlement partners, thus functioning as a hub for financial products and services. Through Atar's APIs, a complete payment and receipt structure can be created. Atar's customers range from fintechs to large companies from the most diverse areas, which are using the company's technology to build their own digital banks and payment solutions.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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