Grupo Werthein to invest US$180mn in Brazil by 2026

Argentina’s Grupo Werthein plans to invest 1bn reais (US$179mn) in Brazil by the end of 2026, focusing on the diversification of its lines of business.

Through its Vrio subsidiary, in Brazil the conglomerate controls the TV and broadband provider Sky and elsewhere in Latin America the operations of DirecTV.

Financial services, content, energy and insurance are some of the group’s chief business focuses as it looks beyond connectivity, according to a Sky statement.

Starting in 2025, the group will start offering the services of the newly created fintech skx in the Brazilian market.

Sky will act as a strategic partner, incorporating and offering the products developed by skx to its own customer base.

The products include payments and transfers, credit and debit cards and financing. The fintech will make a large-scale launch for the public in the first quarter of 2025.

The goal is to “compete in the financial market with a proposal of easy, agile and unbureaucratic access,” said Sky.

Ultimately, Sky will be able to offer bundled packages with satellite TV, internet, fiber optics, streaming, insurance benefits, renewable energy and, now, a digital wallet.

"With this initiative, we are redoubling our commitment to investing in Brazil, with very concrete objectives that are directly related to generating opportunities for everyone and contributing to the development of the community," said Dario Werthein, shareholder of Grupo Werthein and president of Vrio Corp.