Portuguese bank sold to fintech app Rauva

Written By Manuel Poças

Portuguese bank Banco Empresas Montepio has been sold to the Portuguese fintech super-app Rauva.

According to the information disclosed by both parties, Montepio Bank agreed to sell its Companies’ Bank banking license to the fintech app Rauva for 35 million euros.

The operation is still pending the approval of the regulating authorities, a process that will take several months. During that time, before the transaction is complete, all the assets, liabilities, operations, and workers of the Companies’ Bank shall be fully transferred to Montepio Bank.

According to the bank’s CEO, the value of the sale was established in accordance with a reference of 1.15x to 1.18x the value of the company’s Bank’s own capital, which was evaluated at 30 million euros. The simple calculation, according to the defined rule, established that the value of the transaction should be around 35 million euros.

At this time, it is not yet possible to estimate the positive impact of the transaction on the results of Montepio Bank. However, when it comes to the other side, Rauva became one of the first fintech apps to acquire a banking license. That, alone, will have a tremendous impact on its results in the upcoming years.

According to Jon Fath, Co-Founder and CEO of the fintech company, Rauva is the first Portugal’s business super-app. By acquiring the banking license, the company wishes to turn its app into a bank capable of helping small and medium enterprises, and entrepreneurs running their businesses.

Rauva’s idea is to start in Portugal, helping the country in the first place. And, then, expand the license for the rest of Europe and become a European bank, in order to target the European market.

Stay up to date
Subscribe To Portugal.com's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.
Join our FB group Portugal Travel & Living for all things Portugal and news updates

Related Articles


Please enter your comment!
Please enter your name here

Follow Us


Most Popular

Two Days To Freedom – April 25th and the Carnation Revolution

Step back in time to the storied streets of Lisbon, where the air was electric with anticipation on that fateful day of April 25th,...

Time required to get Portuguese citizenship reduced by 12-18 months

Portuguese residents waiting to apply for citizenship can now breathe a huge sigh of relief! The Portuguese Parliament passed significant amendments on March 5th...

Spain vs Portugal: Which Golden Visa Program is Best?

There has been a lot of talk of Golden Visa schemes over the last few years. Each scheme has different rules and varying levels...

Latest Articles