Atlanta, USA-based maker of world-class instant payments, QR code and digital ledger technology, Matera acquired Brazil-based AI provider of solutions for customer retention, loyalty and enhancing digital experiences, Cinnecta. The company announced the acquisition on August 15, 2023. However, it did not disclose the amount of the transaction.
Purpose of financing for Matera
The latest acquisition of Cinnecta aligns with Matera’s mission to provide clients with unmatched value. It seeks to especially focus on critical domains such as client retention and expanding transaction volumes.
In addition, the deal allows companies to help their clients to enhance their sales capabilities by delivering intelligent, actionable insights. With meaningful data, clients can offer their customers a broader range of products and services tailored to their needs precisely when they need them.
The deal allows Cinnecta to act as the epicentre for AI solutions development, complementing Matera’s suite of offerings. The combined company allows them to innovate on a new scale to provide unparalleled client experiences. Its transformative banking solutions can pave the way for an intelligently connected financial future.
What the Matera official has to comment
Carlos Netto, Matera’s Co-Founder and CEO, said, “Matera is at the forefront of fostering the expansion of Pix in Brazil, enhancing the financial ecosystem with innovation and synergy. We are now poised to enable our clients to add significant value to Pix transactions by seamlessly connecting our retail banks, which manage over 60 million accounts, with other clients offering merchant services. This integration aims to not only increase transaction volumes but also foster client retention and augment their business potential around Pix. With the strategic support of Cinnecta, Matera is fully equipped to implement this visionary approach, elevating our commitment to drive growth and excellence in the financial sector.”
What the Cinnecta official has to comment
Cinnecta Co-founder and CEO Eduardo Ferreira further said, “We are fully aligned with Matera’s vision for payments and banking technology in Brazil and its US expansion. This is an incredibly exciting time to join the company, with Matera pushing into new territories. This represents an opportunity to apply our technology to transform an industry.“
About Cinnecta
In 2013 Founders Eduardo Ferreira and Ricardo Ferreira launched the company. Cinnecta operates as a data intelligence company specialising in understanding customer behaviour to identify opportunities to increase LTV (lifetime value). Its platform works for businesses to assess customers’ possibilities to expand profitability and loyalty: campaign recommendations, next best offer (NBO), credit analysis, upsell, cross-sell and churn prediction.
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