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Vasta Invests In Edubank To Tap K-12 Tuitions Payment Market

·1 min read
  • Vasta Platform Ltd (NASDAQ: VSTA) subsidiary Somos Sistemas de Ensino S.A. has agreed to invest an undisclosed sum in Educbank Gestão de Pagamentos Educacionais S.A.

  • Educbank is a financial ecosystem dedicated to K-12 schools, intended to expand access to quality education in Brazil through services’ management and financial support to educational institutions by providing payment guarantees to school tuitions.

  • According to the agreement, the investment will be made in installments over two years upon subscription of new Educbank shares.

  • The closing of the transaction is subject to certain conditions precedent, including the approval by the Brazilian antitrust authority.

  • The investment will enable Vasta to tap the K-12 tuition payment means, with the total payment volume (TPV) estimated at R$70 billion per year.

  • Price Action: VSTA shares are trading lower by 4.60% at $4.56 on the last check Friday.

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