• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    FLEETCOR Invests in Brazilian Vehicle Payments Company

    3/6/24 4:05:00 PM ET
    $FLT
    Business Services
    Consumer Discretionary
    Get the next $FLT alert in real time by email

    Now Serving 9 Million Drivers in Brazil

    FLEETCOR Technologies, Inc. (NYSE:FLT), a leading global business payments company, today announced the closing of a majority investment in Zapay. The investment further scales FLEETCOR's Vehicle Payments business in Brazil and provides access to two million drivers who use Zapay's mobile app and website each month.

    Zapay is Brazil's first digital mobility solution for paying vehicle taxes, registration, and tickets, and is the only company integrated to the National Traffic Departments in all 27 states making it the leading provider for paying vehicle expenses to government bodies in Brazil. The company is experiencing rapid growth, with revenues growing over 60% annually.

    As part of the agreement, FLEETCOR has the right to acquire the remainder of the company in four years.

    "The addition of Zapay further advances our vehicle payments strategy in Brazil. We invested in the company to capitalize on the attractive two-way cross-sell opportunity. We have already begun cross-selling Zapay's solution to our existing 7 million drivers and, conversely, cross-selling our existing suite of vehicle payment products to Zapay's client base," said Ron Clarke, chairman and chief executive officer, FLEETCOR Technologies, Inc.

    "We've had fantastic success expanding our Brazil business from mostly toll tags to other vehicle related categories like fuel, parking and insurance. So, we're quite excited to integrate Zapay's solution into our existing offering," said Armando Netto, Group President of Vehicle Payments in Brazil and North America.

    About FLEETCOR®

    FLEETCOR Technologies (NYSE:FLT) is a leading global business payments company that helps businesses spend less by providing innovative solutions that enable and control expense-related purchasing and payment processes. The FLEETCOR portfolio of brands automate, secure, digitize and manage payment transactions on behalf of businesses across more than 100 countries in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.fleetcor.com.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240306661670/en/

    Get the next $FLT alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $FLT

    DatePrice TargetRatingAnalyst
    3/4/2024$325.00 → $330.00Neutral → Outperform
    Robert W. Baird
    12/5/2023$300.00Outperform
    BMO Capital Markets
    10/20/2023$280.00Neutral
    UBS
    10/11/2023$275.00 → $302.00Outperform → Neutral
    Robert W. Baird
    7/7/2023$310.00Buy
    Deutsche Bank
    3/21/2023$254.00Mkt Perform → Outperform
    Raymond James
    2/10/2023$235.00 → $254.00Neutral → Outperform
    Robert W. Baird
    1/31/2023$208.00 → $240.00Neutral → Buy
    BofA Securities
    More analyst ratings