Dock, an innovator in financial technology infrastructure across Latin America, announced the acquisition of BPP, a payment institution regulated by the Central Bank of Brazil that specializes in Banking-as-a-Service (BaaS).
The acquisition, subject to customary closing conditions, including regulatory approvals, accelerates Dock’s full stack BaaS platform integrations and reinforces the product offering within Brazil’s instant payment system (PIX), introduced by the Central Bank in November 2020.
“This is a transformational milestone for Dock,” said Antonio Soares, Chief Executive Officer of Dock. “We believe that integrating BPP’s already established direct connections to local payment rails into our product offering provides immediate value to our customer base as we pursue a fully aligned vision of the future. We are thrilled to be in a position to add value to current BPP customers, who will be able to accelerate their business faster now that they will be integrated with the most complete and composable payments and digital banking platform in Latin America.”
“We are thrilled to join Dock on its journey to change the future of finance and banking in Latin America,” said Paulo Della Volpe, Chief Executive Officer of BPP. “This combination is a perfect match for our employees and customers. We look forward to becoming a part of Dock’s vibrant, innovative culture, and playing our part in the next chapter of growth.”
BPP, formerly known as Brasil Pré-Pagos, was an early pioneer in white label payments infrastructure. In 2019, the company became the first BaaS provider to be a fully licensed payment institution in Brazil and has experienced substantial growth in customers and volumes, in particular around offering integrations with PIX.
Together, the two companies process over 300 million in monthly transactions, making the combined company the clear BaaS leader in Brazil and Latin America. Speaking about the combination, Dock’s Chief Product and Technology Officer, Frederico Amaral, said: “The fact that we build and run the technology for our own regulated institution creates an additional layer of trust and reliability for customers. We will continue to support customers through our Software as a Service (SaaS) and full stack BaaS offerings, enabling and empowering clients of all sizes, maturity, and use cases to build unique financial solutions to better meet the needs of their end customers.”
Dock continues to experience strong business momentum across new customer acquisitions, new product development, and geographic expansion.