Corpay, Inc. has announced its acquisition of Gringo, a Brazilian vehicle registration and compliance payment company, aiming to tap into the lucrative car debts market and enhance its revenue growth.

Information on the Target

Gringo is a prominent vehicle registration and compliance payment platform based in Brazil. The company operates a comprehensive digital application designed to simplify the lives of millions of drivers nationwide by facilitating the prompt payment of vehicle taxes, registrations, and fines—collectively referred to as ‘car debts.’ With its robust national network and user-friendly interface, Gringo has established itself as a leader in the sector, boasting a remarkable annual revenue growth rate of over 30%.

By acquiring Gringo, Corpay, Inc. aims to strengthen its position in the rapidly evolving payments landscape in Brazil. The super app offers a unique value proposition by providing essential services that enhance the driving experience, thereby catering to the increasing digitization of financial transactions among Brazilian consumers.

Industry Overview in Brazil

Brazil’s automotive industry is experiencing a digital transformation, with an increasing number of consumers opting for technology-driven solutions for managing vehicle-related expenses. The rise of mobile applications has significantly influenc