We reported last summer that fintech company and Trustly challenger Zimpler solo closed the accounts in another record year. Turnover rose from just over 100 million in 2020 to a whopping 274 million crowns during the previous year. The result reached 52 million, an improvement on the 37 million in 2020.
Now the company is launching its payment solution on the other side of the Atlantic, but not in the USA but in the promised land of football, Brazil. The company conducted a study showing that Brazilian e-tailers lost nearly SEK 2.5 billion in the first half of this year, due to failed online purchases alone.
The survey naturally showed a big gap in the market and opens offices and launches its payment solution in the giant country.
“Zimpler’s ambition is to help shape open banking in Latin America,” said Johan Strand, CEO of Zimpler in a press release.
“I believe our products – and the advantages they have over current solutions – have the potential to change the Latin American market.”
E-commerce in Brazil has grown rapidly in recent years and Zimpler hopes to take advantage of this.
“But there are security, reliability and speed issues that Zimpler’s technology solves,” he says Raoul Mehta, which will lead the investment in Latin America.
“I look forward to meeting new partners and seeing how Zimpler’s products can best help them with their challenges.”
