By Brazil Stock Guide – Mercado Pago, the fintech arm of Mercado Libre Inc. (MELI), announced the acquisition of Nikos DTVM, its first purchase in Brazil, in a move to expand its investment offering and increase control over financial products. The deal, reported by Brazil Journal, consolidates a partnership that began in 2022 and positions the company to accelerate growth across Latin America.
Mercado Pago first entered the investment space through a partnership with Órama, using its investment as a service platform. When Órama was acquired by BTG Pactual (BPAC11.SA) in late 2023, former partners launched Nikos, which continued to provide the same service and became the key provider for Mercado Pago’s investment products.
Strategy and scale
“The partnership we had with them was working very well. After three years of collaboration, we saw that the acquisition was the natural next step,” said Ignacio Estivariz, vice president of fintech at Mercado Pago, in an interview with Brazil Journal.
With the deal, Mercado Pago gains the ability to directly structure and distribute investment products ranging from debt securities to funds, which is expected to increase client loyalty. “We will now be able to leverage Nikos’ team to work exclusively for Mercado Pago. This will bring much more speed to continue what we were already doing and to create new products,” Estivariz said.
Financial impact and acqui-hire
The transaction should improve margins, as Nikos previously retained part of the revenues from investment products. The deal also has an acqui-hire component: all 50 Nikos employees, including CEO Breno Casiuch, will join Mercado Pago.
The move mirrors Nubank’s (NU) acquisition of Easynvest, which allowed it to internalize its investment operations. Unlike Easynvest, however, Nikos is a smaller DTVM focused on technology and regulatory services rather than broad-scale brokerage.
Who is Nikos DTVM
Nikos DTVM, a licensed distributor of securities regulated by Brazil’s central bank, was founded by former Órama executives after the company’s sale to BTG Pactual. It quickly became Mercado Pago’s key partner, overseeing the migration of its clients’ investment accounts in early 2024. Operating under the investment as a service model, Nikos offered funds, fixed-income products, and account infrastructure before being absorbed by the fintech.
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