C6 Bank buys Alymente to enter Brazil's R$150B benefits market
What's the deal? C6 Bank has acquired 100% of AlymenteDealroom has a profile for this one. Try Dealroom →, a Brazilian benefits startup founded in 2017 by former Stone executives. The digital bank will use the deal to launch C6 Benefícios and challenge the sector's incumbents. Terms were not disclosed.
What does Alymente do? The startup offers a multi-benefits card that covers meals, food, transport, telemedicine, psychological support, and gym access. It serves more than 100,000 beneficiaries across over 1,200 companies, including HeinekenDealroom has a profile for this one. Try Dealroom →, NissanDealroom has a profile for this one. Try Dealroom →, and Pernod RicardDealroom has a profile for this one. Try Dealroom →.
Why now? C6 Bank chief executive officer Marcelo Kalim signalled the move 16 days ago, saying the product would launch "totally integrated with our app and our card" this half. Alymente's existing traction lets the bank skip build-out steps and scale faster.
What's the endgame? C6 Bank wants to fold benefits into its business portfolio, which already spans digital accounts, credit, and investments. "This was one of the pieces missing from our shelf for companies," said Ricardo Botelho, head of business banking. The bank counts 42 million clients.
For Alymente, the deal fills its own gaps. "More than 70% of our base was demanding financial solutions that only a bank can actually offer," said co-founder André Purri. Alymente's portfolio also includes fleet management, corporate expenses, rewards, and employee reimbursements.
The signal: Brazil's benefits market, worth more than R$150 billion a year, was dominated for five decades by Ticket, Alelo, Pluxee, and VR. Now iFood, BTG PactualDealroom has a profile for this one. Try Dealroom →, PicPayDealroom has a profile for this one. Try Dealroom →, and a wave of startups are circling. C6 Bank's acquisition adds another heavyweight to a rapidly consolidating field.
Read more: neofeed.com.br
Image credit: markus119
