PayJoy has acquired OZON, according to a post published by PayJoy announcing the transaction. The deal was completed, and the company described it as one of two acquisitions it closed in Mexico. The purchase price was not disclosed in the source.
PayJoy said the combination of OZON's motorcycle financing expertise with its own technology and credit capabilities is intended to expand access to productive assets beyond smartphones. The company said such assets can deliver life-changing opportunities.
The announcement also covered PayJoy's acquisition of strategic assets of Finia AI, which PayJoy said had spent years working to unlock credit for micro-businesses in Mexico that have limited financial data and owners with little or no formal credit history, through AI-powered underwriting. PayJoy said integrating that technology into its global platform would advance a shared mission of financial inclusion.
PayJoy credited Jose Luis Gonzalez with having a clear vision for how these businesses can bring exceptional value to PayJoy, and said more is to come.