C6 Bank has acquired Alymente, a Brazilian employee benefits platform, for an undisclosed amount. The deal transfers ownership of Alymente to C6 Bank, giving the bank control of the company and its benefit management operations.
Alymente provides companies with a single Visa-branded card for managing employee benefits. Its platform lets human resources teams customize benefit offerings while giving employees a simple way to access and use them. The company says its clients include HEINEKEN, Nissan, Pernod Ricard, BIC, Caloi, Amaro, Scania, Boa Safra Sementes, O Boticário, Kearney and Brown Forman.
C6 Bank operates as a digital bank offering financial services to individuals and businesses. Buying Alymente extends its business-to-business offerings into the corporate benefits segment, where employers seek consolidated tools for managing compensation and perks. The acquisition gives C6 Bank an established client base and a product already integrated into the routines of large employers.
The two businesses are expected to combine Alymente's benefits technology with C6 Bank's financial infrastructure and distribution capacity. That could allow the bank to offer benefits management alongside its existing corporate services, while Alymente gains access to a larger institution's resources. Neither company disclosed the purchase price or terms of the transaction.
The combined operation will be judged on whether it can retain Alymente's existing corporate clients and expand the benefits product within C6 Bank's business customer base. How quickly the two teams integrate their platforms and sales channels will shape the outcome of the deal.