Nomad, Fintech that aims to simplify the access of Brazilians to a global financial life, has just acquired 100% of Husky, a startup of international transfers that facilitates the payment of Brazilians working abroad.
In addition to increasing revenue, Nomad's intention in acquiring Husky is to accelerate the brand's value proposition by scaling the business in terms of payments and transfers from any country in the world. The purchase comes after the international accounts company received a $32 million contribution in May of this year, which is intended, among several objectives, to fund new operations in the market.
Lucas Vargas, Nomad's CEO, says in a statement that the resumption of travel to the United States and abroad in general, which had been held back because of the pandemic, gained momentum at the end of last year, which put the international remittance market on the radar of large companies.
"With the acquisition of Husky, we have increased our range of solutions and reached new audiences, further consolidating Nomad as the best and most complete option for a global financial life," adds Lucas.
Husky is currently experiencing a positive moment in the market, with the increase in hiring of Brazilian professionals by foreign companies. Since its foundation in 2016, the company has already handled R$ 2.7 billion in international payments and is on its way to reach the R$ 3 billion mark still this year, a 300% growth in relation to the total volume processed so far by the remittance facilitator.
With the acquisition, Nomad's monthly volume of international transfers doubles, putting the company at a new level.
"The startup market is facing difficulties this year, with less funding to accelerate its operations. With this, we have the challenge of generating a financial flow. With the acquisition of Husky, we gain scale and consolidate part of the market. We are well positioned to consider new funding from institutional investors in the not so distant future," says Lucas.
Nomad's Lucas Vargas says that the merger of Nomad's platform with Husky's will enable us to create a single international services environment, something that does not currently exist in the Brazilian market. "In addition, we will be able to increase Nomad's revenue, bringing not only new customers, but also recurrence, coming from people who receive their salaries on a monthly basis," he explains.
For Tiago Santos, Husky's founder, "Husky adds billions of reais per year to Nomad's flow. A volume that has grown 20 times in the last 2 years, along with revenue and active customers. Tens of thousands of people use Husky every month. And Nomad's confidence in our work motivates us to keep moving our business forward.
According to Nomad's CEO, having Husky in its ecosystem will allow the company to increase its relationship with the startup's audience, who also use Nomad's service. "Husky is developing a financial product that allows professionals to move money out there, something Nomad already offers. The idea is to accelerate that step that Husky was planning to take, using our resources. In addition, we see the transaction as an important strategy to help the company reach a customer base and transfer level of a different order of magnitude."
Nomad, Fintech that aims to simplify the access of Brazilians to a global financial life, has just acquired 100% of Husky, a startup of international transfers that facilitates the payment of Brazilians working abroad.
In addition to increasing revenue, Nomad's intention in acquiring Husky is to accelerate the brand's value proposition by scaling the business in terms of payments and transfers from any country in the world. The purchase comes after the international accounts company received a $32 million contribution in May of this year, which is intended, among several objectives, to fund new operations in the market.
Lucas Vargas, Nomad's CEO, says in a statement that the resumption of travel to the United States and abroad in general, which had been held back because of the pandemic, gained momentum at the end of last year, which put the international remittance market on the radar of large companies.
"With the acquisition of Husky, we have increased our range of solutions and reached new audiences, further consolidating Nomad as the best and most complete option for a global financial life," adds Lucas.
Husky is currently experiencing a positive moment in the market, with the increase in hiring of Brazilian professionals by foreign companies. Since its foundation in 2016, the company has already handled R$ 2.7 billion in international payments and is on its way to reach the R$ 3 billion mark still this year, a 300% growth in relation to the total volume processed so far by the remittance facilitator.
With the acquisition, Nomad's monthly volume of international transfers doubles, putting the company at a new level.
"The startup market is facing difficulties this year, with less funding to accelerate its operations. With this, we have the challenge of generating a financial flow. With the acquisition of Husky, we gain scale and consolidate part of the market. We are well positioned to consider new funding from institutional investors in the not so distant future," says Lucas.
Nomad's Lucas Vargas says that the merger of Nomad's platform with Husky's will enable us to create a single international services environment, something that does not currently exist in the Brazilian market. "In addition, we will be able to increase Nomad's revenue, bringing not only new customers, but also recurrence, coming from people who receive their salaries on a monthly basis," he explains.
For Tiago Santos, Husky's founder, "Husky adds billions of reais per year to Nomad's flow. A volume that has grown 20 times in the last 2 years, along with revenue and active customers. Tens of thousands of people use Husky every month. And Nomad's confidence in our work motivates us to keep moving our business forward.
According to Nomad's CEO, having Husky in its ecosystem will allow the company to increase its relationship with the startup's audience, who also use Nomad's service. "Husky is developing a financial product that allows professionals to move money out there, something Nomad already offers. The idea is to accelerate that step that Husky was planning to take, using our resources. In addition, we see the transaction as an important strategy to help the company reach a customer base and transfer level of a different order of magnitude."