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Intel Capital announces investment in PagPop
São Paulo, October 3, 2012 - During the Intel Capital Global Summit being held this week
in Huntington Beach, California, Intel Capital announced several new investments in
strategic areas including one in Brazilian payments company PagPop. Specializing in card
readers for cell phones with Android or iOS operating systems, PagPop aims to facilitate
social and economic inclusion of self-employed professionals and owners of small
businesses by enabling them to accept credit card payments using only their telephones.
PagPop was founded as Vitalcred, initially focused on servicing the health area, and
has been in operation for four years. The company expanded its focus and aims to service
self-employed professionals across the country. Payment mobility is the main advantage of
the company’s technology, which allows taxi drivers, construction service providers, hair
stylists, nail stylists and resellers of cosmetics and clothes, among other professionals, to
facilitate payment, thereby increasing the profitability of their small businesses.
PagPop works through a device that transforms a cell phone into a credit card
payment machine. The system also can be used through a computer or landline. The device
allows users to accept all kinds of cards and also allows customers the convenience of
dividing their payments in up to 12 installments at no interest.
The investment will allow the company to leverage Brazil's current economic
landscape to grow quickly - it is estimated that approximately 20 million small businesses
or self-employed professionals currently do not accept credit cards and stand to gain with
the PagPop payment technology. The company also plans to invest in technology and
servers to process the growing volume of financial transactions conducted by the
“PagPop is very happy and honored with the investment from Intel Capital. It will
help us invest in new technologies and expand our team in order to further raise the
quality of our services and help millions of self-employed professionals in Brazil, who
deserve a more accessible payment solution," said Márcio Campos, PagPop CEO.
For Intel Capital, the investment in PagPop is aligned with Intel’s global goals of
connecting everyone in the world within the next decade. “PagPop is using leading
technology to facilitate social and economic inclusion, increasing payment options for
millions of small businesses and self-employed professionals,” explains David Thomas,
general director of Intel Capital for Latin America. “This kind of technology is very
important for Brazil, which is currently benefiting from a growing economy and the rise of
a new C class. We see huge potential in this area for the coming years,” added the
David Thomas is the Managing Director of Intel Capital for Latin America. Since
officially entering the region in 1999, Intel Capital has an active history of technology
investments and has invested approximately $150 million in roughly 44 companies across
Latin America, with approximately $85 million in 28 Brazilian companies. In the last 12
months, Intel Capital announced seven new investments; six in Brazil, including PagPop
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in
innovative technology start-ups and companies worldwide. Intel Capital invests in a broad
range of companies offering hardware, software, and services targeting enterprise, mobility,
health, consumer Internet, digital media, semiconductor manufacturing and cleantech.
Since 1991, Intel Capital has invested more than US$10.7 billion in over 1,249 companies
in 52 countries. In that timeframe, 200 portfolio companies have gone public on various
exchanges around the world and 304 were acquired or participated in a merger. In 2011,
Intel Capital invested US$526 million in 158 investments with approximately 51 percent of
funds invested outside the U.S. and Canada. For more information on Intel Capital and its
differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
Intel (NASDAQ: INTC) is a global leader in innovation. The company designs and
manufactures essential technologies that are the basis for computer devices across the
You can find more information about Intel at http://newsroom.intel.com/community/pt_br
Visit us on Facebook: www.facebook.com/intelbrasil
Follow Intel on Twitter: www.twitter.com/intelbrasil
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