Corpay to Acquire Its Second Car Debt Payment Company in Brazil

Dow Jones

Feb 04, 2025

By Katherine Hamilton

Corpay agreed to acquire Gringo, a mobile payments company in Brazil.

Gringo is an app used by 2.5 million monthly active users to pay vehicle taxes, registration and fines instantly. Its revenue is growing 30% a year, Corpay said.

Corpay specializes in digitizing and automating payments. It bought Zapay Brazil, a vehicle car debt payment company, in the spring of 2024.

Corpay said it is "doubling down" in the car debt payment space because the segment is three times larger than tolls and is less penetrated. The company expects its acquisitions of Gringo and Zapay to increase its overall organic revenue growth rate in Brazil by three percentage points this year.

The transaction is set to close near the end of the first quarter of 2025, Corpay said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

February 03, 2025 16:42 ET (21:42 GMT)

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Its revenue is growing 30% a year, Corpay said. \n</p>\n<p>\n  Corpay specializes in digitizing and automating payments. It bought Zapay Brazil, a vehicle car debt payment company, in the spring of 2024. \n</p>\n<p>\n  Corpay said it is \"doubling down\" in the car debt payment space because the segment is three times larger than tolls and is less penetrated. The company expects its acquisitions of Gringo and Zapay to increase its overall organic revenue growth rate in Brazil by three percentage points this year. \n</p>\n<p>\n  The transaction is set to close near the end of the first quarter of 2025, Corpay said. \n</p>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 03, 2025 16:42 ET (21:42 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0342679015.USD","symbol_name":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2508175594","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2508175594","pubTimestamp":1738618920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Corpay agreed to acquire Gringo, a mobile payments company in Brazil.Gringo is an app used by 2.5 million monthly active users to pay vehicle taxes, registration and fines instantly. 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It bought Zapay Brazil, a vehicle car debt payment company, in the spring of 2024. \n\n\n  Corpay said it is \"doubling down\" in the car debt payment space because the segment is three times larger than tolls and is less penetrated. The company expects its acquisitions of Gringo and Zapay to increase its overall organic revenue growth rate in Brazil by three percentage points this year. \n\n\n  The transaction is set to close near the end of the first quarter of 2025, Corpay said. \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  February 03, 2025 16:42 ET (21:42 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}