Expansion Plans of UniTeller: CEO Alberto Guerra Discusses Global Growth and Future Endeavors
UniTeller Expands Global Footprint with Acquisition of More Payment Evolution
In August 2024, UniTeller, a subsidiary of Mexico-headquartered Grupo Financiero Banorte, completed the acquisition of More Payment Evolution. This strategic move aimed to expand UniTeller's consumer remittances, B2B solutions, and B2B2X-focused network business.
The acquisition has allowed UniTeller to diversify its corridor mix, broadening its reach to markets across Europe and Africa, in addition to its existing presence in Latin America. As a result, UniTeller's send volume has grown from $14bn to $17bn, and the number of countries it serves has increased from 84 in 2023 to more than 120 in 2024.
UniTeller's CEO, Alberto Guerra, discussed the company's approach to the acquisition and the opportunities it presents for global expansion. He highlighted the potential to develop business payments as a key focus following the acquisition.
The acquisition has been a significant boost to UniTeller's operations, helping drive growth in its send volume and geographical reach. In Q3 2024, the acquisition was cited as a key driver of an uplift in income from fees by Banorte.
However, without direct and up-to-date information from recent statements by UniTeller or official press releases, it is not possible to provide a precise answer regarding their acquisition strategy or key opportunities. The company has not shared any information on potential challenges or risks associated with the acquisition or strategies to mitigate these risks.
For the most accurate and current insights, it is recommended to check UniTeller’s official communications, press releases, or trusted financial news outlets for detailed announcements related to this acquisition. The acquisition has the potential to influence trends in cross-border payments, as UniTeller continues to grow and expand its services.
UniTeller, with its recent acquisition of More Payment Evolution, is now exploring opportunities to expand its business operations in the realm of technology-driven financial services, particularly in the area of business payments. This move aligns with UniTeller's goal to broaden its global footprint in the financial sector, targeting markets across Europe, Africa, and beyond.
