Avalia Advises Carrefour in Latest Fintech Acquisition
Avalia Systems, a Swiss-based software due diligence and technology advisory firm, advised Carrefour Brasil during the evaluation and acquisition of 49% of Ewally, an award-winning Fintech. The deal includes an option to acquire Ewally’s control within 3 years, and is part of Carrefour Brasil’s digital transformation and innovation strategy.
Avalia Systems performed the Software Due Diligence, evaluating the impact of Ewally’s people, processes, and products in the business strategy defined by Carrefour for the investment.
Jose Manuel Silva CIO / COO at Carrefour Bank
"Avalia allowed us to quantify the business impact and to visualise the intangible value of Ewally’s unique technology, team, and culture. They allowed us to make a better informed investment decision and gave us a clear technology roadmap to deliver the growth we are going to bring."
Ewally’s acquisition is part of Carrefour’s plan to partner with startups and accelerate the company’s digital transformation in Brazil.
In 2017 Carrefour Brasil raised $1.5 billion US dollars in one of the country’s largest IPOs to become its largest retailer in market capitalization, today at $9.8 billion US dollars. Banco Carrefour, or Carrefour Soluções Financeiras, is a joint venture between Carrefour Brasil and bank Itau, Brazil’s leading bank with a market capitalisation of $73 billion US dollars.
Avalia’s CEO, Rodney Reis, said “We were able to give Carrefour a clear view of how their expertise and resources can better help Ewally’s technology and engineering talent to reach and even exceed the innovation and growth targets they have. Our software analytics platform, using data from Ewally’s development history, guided our discussions and pointed us to the areas with the highest potential for business impact. Based on that our team of experts in Brazil and Switzerland, specialised in tech M&A and investments, was able to quickly discover insights that were instrumental to the deal’s success.”
Avalia Systems is a Swiss company with operations and customers in Europe and the Americas, providing a data-driven due diligence of software assets, development teams and processes that enable clients to make better tech acquisitions, and investments in the evolution of legacy software. Avalia Systems also advises senior executives using its world class expertise and data driven approach to accelerate the execution of digital transformation and innovation strategies.