Expansion Plans of UniTeller CEO Alberto Guerra: Pursuing Global Growth and Beyond
UniTeller Expands Global Reach with Acquisition of More Payment Evolution
UniTeller, a Latin America-focused company, has made a significant move in its quest for global expansion by acquiring More Payment Evolution in August 2024. The acquisition has not only broadened UniTeller's geographical reach but also enhanced its capabilities in consumer remittances, B2B solutions, and its B2B2X-focused network business.
The deal, a key development in UniTeller's wider strategy, has seen the company's geographical footprint extend to include markets in Europe and Africa, in addition to its existing presence in Latin America. This expansion has resulted in UniTeller serving more countries, increasing the number from 84 in 2023 to more than 120 in 2024.
Alberto Guerra, CEO of UniTeller, shared insights on how the company approached the acquisition of More and where it sees key opportunities now that the process has been completed. The acquisition has been instrumental in diversifying UniTeller's corridor mix and enhancing its consumer digital capabilities.
The acquisition has also contributed to trends in cross-border payments, particularly in Europe and Africa. UniTeller sees opportunities for growth in expanding its services in these markets post-acquisition. The company is looking to capitalize on the acquisition to improve its B2B solutions and B2B2X-focused network business.
The acquisition of More Payment Evolution has not been reported to have any negative impact on UniTeller's send volume, which has increased from $14bn to $17bn over the same period. In fact, the acquisition has been significant enough to be mentioned in Banorte's latest earnings, with the resulting larger fund transfer dynamics contributing to an uplift in income from fees in Q3 2024.
While the specific details of UniTeller's strategy behind the acquisition and the key opportunities it sees post-acquisition are not extensively covered in the available search results, it is common in the industry for such acquisitions to aim at expanding technology capabilities, increasing market share, broadening service offerings, and strengthening competitive positioning in the payments ecosystem. Key opportunities post-acquisition typically involve leveraging combined technologies to enhance product innovation, deepening customer relationships, cross-selling services, and entering new geographic or vertical markets.
For precise insights on UniTeller’s acquisition strategy and outlook, it is recommended to check UniTeller’s official press releases, investor presentations, or recent news articles directly from financial news platforms or the companies’ official websites.
The acquisition of More Payment Evolution by UniTeller, a Latin America-focused company, has extended its geographical footprint to include markets in Europe and Africa, thereby increasing the number of countries it serves. This strategic move has also diversified UniTeller's corridor mix and enhanced its consumer digital capabilities in technology-driven business and finance sectors.
