C6 Bank, which has American partner JPMorgan Chase as a shareholder, is entering the benefits market with the acquisition of startup Alymente, specialized in corporate benefits. The purchase will expand the bank's product offerings with meal vouchers, food vouchers, and other services focused on employee management.
The benefits sector serves more than 22 million workers across the country and is considered one of the largest and most consolidated markets of this type in the world, moving R$ 150 billion per year in Brazil. The completion of the deal depends on approval from the Central Bank and the fulfillment of conditions precedent to the transaction. The value of the acquisition was not disclosed.
After the completion of the purchase, Alymente will change its name to C6 Benefícios and the card will be issued by Mastercard. Created in 2017, Alymente is a benefits platform with nationwide operations that serves more than 100,000 companies. With this move, C6 expands its strategy of offering products focused on the business market.
