Retailer Via Varejo acquires fintech Airfox
Brazilian retailer Via Varejo acquired fintech Airfox for an undisclosed amount. Meanwhile the fintech’s former CEO, Victor Santos, will assume the role of Chief Strategy Officer. From its headquarters in Boston, Airfox will operate as a fintech hub for Via Varejo. Via Varejo and Airfox’s budding relationshipBrazilian-born Victor Santos co-founded Airfox with Sara Choi in 2016. The fintech’s revenue came primarily from the interest rates it charged for the microloans it offered.