Dock, a leading provider of modern financial technology infrastructure in Latin America, announced the completion of its acquisition of Cacao, a card processing solutions provider in Mexico, from now on branded also as Dock.
The deal expands Dock’s regional footprint and advances its goal of becoming a primary fintech services provider across all of Latin America.
“The two companies share significant values and a core mission to enable their clients to democratize, through technology, access to the financial system for the millions of unbanked and underbanked people in Latin America,” said Antonio Soares, Chief Executive Officer of Dock.
Cacao issued over four million cards across its Card Management and Credit Card Platforms. The acquisition brings Dock, which is the only Brazilian company to offer card issuing, acquiring and banking as a service on one fully integrated platform, more than 50 new clients, including Albo, Bnext, Lanapay, Oyster, Kapital, Clip, Rapyd, Billpocket, Jefa, and Tribal. Dock will provide clients with full stack solutions and card processing powered by Dock in Mexico and across the region.
With access to Dock’s technology and resources, Cacao will continue to serve its clients at the highest standards and grow and scale its operations in Mexico under the Dock brand.