Sinqia

Sinqia, originally founded as Senior Solution in 1996 by Bernardo Gomes and Luciano Camargo, has established itself as a pivotal technology provider for the Brazilian financial industry. The founders launched the company by developing custom software for banks, and in 2005, initiated an aggressive growth strategy focused on acquisitions, a bold move in a fragmented market. This strategy proved successful, leading to 24 acquisitions and transforming the company from a small operation with a revenue of R$5 million to a major player.

A significant milestone was the company's 2013 initial public offering on the B3's Bovespa Mais segment, which raised approximately R$40 million and further fueled its acquisition-led expansion. To better reflect its expanded market position, the company rebranded to Sinqia in February 2019. The culmination of its growth journey occurred in November 2023, when Puerto Rican fintech firm Evertec acquired Sinqia for approximately R$2.5 billion (around $591 million USD), subsequently taking the company private. Founder Bernardo Gomes, who led the company as CEO for 27 years, transitioned to a consultant role before departing in April 2024.

Sinqia's business model is centered on providing a broad portfolio of software and services to the financial sector, generating approximately 85% of its revenue from recurring sources. The company serves over 900 clients across Brazil, with a strong presence among banks, fund managers, private pension entities, and consortium administrators. Its offerings are structured into four primary business verticals: Banks, Funds, Pensions, and Consortiums. For banks, Sinqia provides solutions for core operations like checking accounts, credit, treasury, and regulatory reporting. In the funds sector, its technology is utilized by leading administrators and custodians for investment fund control and distribution. The company also supplies integrated systems for pension and consortium administrators.

Prior to its acquisition, Sinqia demonstrated a strong financial profile characterized by consistent growth and a diversified client base with no single customer concentration. The acquisition by Evertec is viewed as a complementary transaction, aiming to introduce Evertec's payment solutions to Sinqia's extensive client base in Brazil and to export Sinqia's software products to other Latin American markets.

Keywords: financial software, fintech solutions, banking technology, asset management software, pension fund solutions, consortium management software, digital banking platform, core banking systems, regulatory technology, RegTech, financial services IT, Brazilian fintech, Latin America fintech, capital markets technology, investment software, IT consulting financial, digital transformation financial services, Evertec, Senior Solution, Bovespa Mais, B3, Bernardo Gomes, Luciano Camargo, software for banks, fund administration software, financial services M&A