Braza increases its capital by R$ 50 million and prepares for international expansion
This capital increase, most of which will go to the financial institution Braza Bank, has been already approved by Brazilian central bank.
SÃO PAULO, May 31, 2023 /PRNewswire/ -- Braza – a group of companies operating since 2007 with financial solutions for international payments and transfers, including Braza Bank (a foreign exchange Bank in Brazil), Braza UK (an E-Money institution based in England), Braza PT (Branch in Portugal), Braza Tech (technology) and CloudBreak (multicurrency account), advances in the organization of its capital structure to offer more and more services to citizens and global companies.
The Company has just reinforced its solidity and financial capillarity, announcing a capital increase of around R$50 million, days after taking the lead in the ranking of the Central Bank of Brazil, consolidating as the largest exclusive foreign exchange bank in the country, in American dollar volume. The contribution, mad by the majority shareholders of the Company, aims to expand the portfolio of products and services worldwide, reinforcing its market coverage.
Braza serves people and companies, through various exchange demands, such as exports, imports, financial remittances carried out in batches (mass payments), and multicurrency accounts, in addition to transfers and international purchases. Only in the last four years, it carried out around 10 million transactions, with a volume that exceeds R$ 300 billion. In addition, more than 6 million people and 7 thousand companies have transacted with the Institution.
According to Heber Cardoso, CEO of the group, one of the differentials for reaching this level is the team's formation, organizational culture, and purpose. "We bring together professionals who have accumulated, on average, more than 20 years in the market and have extensive expertise to deliver customized solutions with quality and benefits above what the market offers", he comments. Another highlight is the value of the fees applied, which are the most competitive – and affordable – precisely because it has an institution in England, which eliminates intermediaries and makes BRL markets in Brazil.
Since 2022, the group has quadrupled the number of employees and made investments in technology, cyber security, data infrastructure, governance, risk management, brand change, and expansion of financial products.
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