Retailer Carrefour Brasil said on Tuesday it signed an agreement to buy 49% of fintech Ewally, with the option to buy control after three years.
“Fully aligned with the company’s digitization strategy, this move launches operations in the digital account segment,” Carrefour Brasil said in a statement.
The company also said the deal will allow it to accelerate the process of digital transformation and innovation and expand its payment and distribution ecosystem for digital products and services in Brazil.
The completion of the transaction is subject to compliance with certain conditions. Financial details of the transaction were not provided.