Aiming to become the first B2B neobank in Brazil, BS2 Bank announced on Monday the acquisition of the Israeli fintech WEEL, a B2B online lender focused on financing Brazilian companies.
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The merger is the bank's first strategic move since the arrival of the new CEO, Marcos Magalhães, who officially took the position in early May, when he also joined BS2 Board of Directors.
"We have ambitious growth plans. WEEL has the best products and the best digital credit expertise. It perfectly complements our offering and positions us as the leading digital financial services provider for small and medium-sized companies. The SME segment has often been ignored. Banking product development generally focuses only on individuals and large corporations. We're going to change this logic," Magalhães noted.
