Business
International Money Express, Inc. (Intermex) Strengthens Digital Remittance Services with Acquisition of Amigo Paisano’s Business
MIAMI, Dec. 04, 2024 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading, omnichannel money
About this update from International Money Express, Inc.
[{"type":"text","content":"MIAMI, Dec. 04, 2024 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading, omnichannel money remittance services company, has announced its acquisition of certain of the assets and operations of Amigo Paisano, S.A., a Guatemala-based remittance company, including its well-recognized U.S., European, and LATAM brands and trademarks. The long-term partnership between the two companies makes this acquisition a natural progression in Intermex’s strategy to enhance its digital coverage and expand its presence in Central America. Since 2019, Amigo Paisano has utilized Intermex’s infrastructure and operations, leveraging the Company’s state of the art APIs, superior compliance oversight, highly efficient Spanish-first customer care, and Intermex’s expansive multi-method payout network across Latin and Central America. The integration of Amigo Paisano’s trusted brand into Intermex's line-up of products and services strengthens the Company’s ability to deliver innovative and reliable remittance solutions while maintaining meaningful connections with Latino communities. Marcelo Theodoro, Chief Product, Marketing & Digital Officer at Intermex, remarked, “The acquisition of Amigo Paisano’s business is a key milestone in our journey to enhance our digital offerings and strengthen our presence in Central America. Incorporating such a well-regarded brand into our operations allows us to further our mission of providing efficient, accessible remittance services that meet the unique needs of Latino families.” Sergio Sagastume, CEO of Amigo Paisano, added, “Joining forces with Intermex marks a significant milestone for Amigo Paisano. Over the years, our brand has fostered a deep trust with the Latino community. Now, together with Intermex, we will leverage that trust to enhance services and deliver even greater convenience and value to our customers.” This acquisition is part of Intermex’s ongoing strategy to grow its market leadership through targeted partnerships and acquisitions. In November 2022, the company extended its global footprint by acquiring Envios de Valores La Nacional Corp., a Denver-based remittance provider, expanding the Company’s operations to more than 60 countries and, in April 2023, entered the European remittance market through its acquisition of LAN Holdings, Corp. B...