Santander Bank and Grupo Galicia They announced an agreement on Tuesday to form a strategic alliance. Santander acquired 50% of Nera businessa digital payment and financing platform for the agricultural sector.
As they pointed out, this alliance, which includes the operations of Nera in Argentina, Paraguay and Uruguay, will allow the firm to accelerate the technological development of financial tools that apply for the growth of agricultural businesses in Latin America.
In contact with scope, Alejandro Butti, Country Head & CEO of Santander Argentina, stressed that “with this investment, we reinforce our commitment to support the agricultural sector, facilitating access to Innovative and Digital Financing Solutions. This is another step towards the regional integration and development of the sector. In Santander, we are committed to the growth of Argentina, investing in innovation to transform banking and providing solutions that simplify the lives of our clients, with an increasingly digital, agile and close approach. ”
Along the same line, Fabián Kon CEO of Galicia told the scope that “Technology and collaboration are fundamental to the future of agriculture. That is why we invest to found Nera and today we formalize this alliance that will consolidate an open ecosystem that transforms the daily management of agricultural producers and suppliers ”.
A commitment to transform into the main agro bank platform
Via zoom and consulted by scope, both executives contributed details. On the one hand, they argued that the alliance between Banco Santander and Grupo Galicia is constituted as Shareholders, but does not imply a joint offer of credits to the sector. “Each entity will offer its credit lines in NeraIn fact there are already entities that are not NERA shareholders, but they are offering products and services on the platform. Our idea is that this impulse serves all banking entities that want to arrive with the best offer available to the agricultural sector, ”he said Butti.
“Our expectation is that The financial sector can grow a lot in the coming months. There is a giant opportunity. We close 2024 with a credit ratio by GDP still very low, that is, we see the possibility of growing a lot. Nera’s commitment is directional, agric Kon.
Since its launch in 2023, according to data provided by both entities, more than 6,500 producers were financed through the platform, generating more than 28,000 operations for a total of US $ 1.2 billion. The platform offers agreements with multiple financial entities and more than 1,800 agricultural suppliers so that the producer can find the best credit option when financing their purchases and choosing the most appropriate combination of conditions for the flow of funds of their agricultural business.
“This alliance reinforces Nera’s value proposal, consolidating it as Una key digital tool For agriculture challenges in the region and strengthens the concept of an open platform for the entire agricultural ecosystem with focus on transparency and democratization of credit, ”said entities in a statement.
For its part, Marcos Herbin, CEO of Nera, said: “The incorporation of Santander as a strategic partner allows us to accelerate our vision of being leaders in financial innovation for agriculture in Latin America, connecting opportunities and transforming the way in which producers access financial solutions.”
Source: Ambito
