Globant Acquires Miami-Based Blankfactor to Enhance Financial Services

Globant, a leading technology services company founded in Argentina, has announced its acquisition of Blankfactor, a Miami-based fintech firm specializing in payments, banking, and capital markets. This strategic move aims to bolster Globant's financial services division and expand its capabilities in AI-driven solutions.

Key Takeaways

• Acquisition Details: Globant has acquired Blankfactor, enhancing its financial services offerings.

• Expertise: Blankfactor specializes in consulting-led product engineering and enterprise AI solutions.

• Leadership Continuity: Blankfactor's co-founders will remain at the helm post-acquisition.

• Global Presence: Blankfactor operates in multiple countries, employing over 450 technology professionals.

Overview of Globant

Founded in 2003, Globant has established itself as a digitally native technology services giant. With a workforce of over 29,100 employees across 33 countries, the company focuses on creating innovative digital products and solutions. Globant's clientele includes major corporations like Google, Electronic Arts, and Santander.

Blankfactor's Growth Journey

Blankfactor was founded in 2016 by Michael Wear and Melody Pak. The company has rapidly scaled its operations, providing consulting-led product engineering services to some of the most prominent brands in the financial sector. Notably, Blankfactor serves six of the top ten payment processors and numerous leading banks and asset managers.

In 2023, as Blankfactor continued its growth trajectory, its founders were recognized as Endeavor Entrepreneurs, joining a global network that supports high-impact entrepreneurs. This recognition underscores their potential to drive significant contributions to the South Florida tech ecosystem.

Strategic Importance of the Acquisition

Martin Migoya, co-founder and CEO of Globant, emphasized the importance of this acquisition in enhancing the company's expertise in the financial services sector. He stated, "Blankfactor brings incredible experiences and best practices within the financial services space, which is a key vertical for Globant. As AI develops and impacts industries, we want to expand Globant’s visions and knowledge in order to provide a continuously evolving service to our clients."

Future Prospects

With this acquisition, Blankfactor will continue to operate under its brand, with Wear and Pak leading the company. The integration into Globant is expected to enhance Blankfactor's capabilities, allowing it to scale its consulting-led digital execution for the financial services industry.

Globant's expansion into Miami in 2021 has already positioned it as a key player in the region's tech landscape. The company plans to add 150 tech jobs in Miami, further solidifying its commitment to growth in the area.

Conclusion

The acquisition of Blankfactor marks a significant step for Globant in strengthening its financial services business. By leveraging Blankfactor's expertise and innovative solutions, Globant aims to deliver enhanced value to its clients and remain at the forefront of digital transformation in the financial sector.

Sources

• Globant acquires Miami-based Blankfactor to strengthen its financial services business - Refresh Miami, Refresh Miami.

• Globant acquires Miami-based Blankfactor to strengthen its financial services business - Refresh Miami, Refresh Miami.