Legal counsel to Open Pass S.A. (“Open Pass”) and its founding shareholders in the negotiation of a strategic agreement with Telecom Argentina S.A. (“Telecom”) to promote Open Pass’ consolidation in the domestic Fintech market, expand its proposal of B2B financial technological solutions, and venture into new markets.
The transaction consisted in Telecom’s indirect acquisition of 50% of Open Pass’ shares through a share subscription and the reorganization of the company in preparation for its upcoming internationalization. In addition, as part of the transaction, Open Pass’ founding shareholders entered into a shareholders’ agreement with Telecom to regulate their rights and obligations. The transaction closed on April 24, 2023.
Open Pass is a technology company that offers Fintech As A Service infrastructure throughout Latin America. In turn, through its participation in Open Pass, Telecom aims to enhance the digital financial services offering of Personal Pay -Telecom’s virtual wallet that uses Open Pass’ technology- both for individuals and companies.