M&A Deal Summary

Grupo Casas Bahia Acquires Airfox

On May 22, 2020, Grupo Casas Bahia acquired financial services company Airfox

Acquisition Highlights

This is Grupo Casas Bahia’s 1st transaction in the Financial Services sector.
This is Grupo Casas Bahia’s 1st transaction in the United States.
This is Grupo Casas Bahia’s 1st transaction in Delaware.

M&A Deal Summary
Date	2020-05-22
Target	Airfox
Sector	Financial Services
Buyer(s)	Grupo Casas Bahia
Deal Type	Add-on Acquisition

Target

Airfox

Wilmington, Delaware, United States

Airfox provides inclusive financial services and access to capital to emerging markets. Airfox’s digital banking service banQi is a reinvention of classic banking methods that match already existing digital technology around the world, giving unbanked and underbanked consumers access to purchasing power and financial services through their smartphones. The company also benefits from high-profile strategic partnerships, including with Brazilian retail giant Via Varejo, global card provider Mastercard, QR code payment software Cielo, and more. Airfox was formed in 2016 and is based in Wilmington, Delaware,

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