Redpin, a provider of secure transaction management software for residential property, has launched Currencies Direct in Brazil to facilitate international property payments for Brazilian nationals investing in Portuguese property.
This initiative addresses the significant flow of foreign exchange from Brazil to Portugal, where Brazilian nationals accounted for 15% of real estate sales in 2023.
Currencies Direct aims to benefit real estate agents and property legal professionals in Portugal who assist Brazilian clients, as well as private Brazilian clients seeking to purchase property in Portugal or send funds out of Brazil. Clients will benefit from competitive exchange rates, no transfer fees, and high transfer limits. The service will provide expert guidance and support in Brazilian Portuguese.
Currencies Direct already has a presence in Portugal, with four offices and affiliations with approximately 122 real estate partners, many of whom serve Brazilian clients. These partners can now utilize Currencies Direct for their Brazilian clients.
Initially, partners and clients will be serviced by Brazilian-Portuguese speaking staff from Redpin’s global offices, with plans to establish a dedicated office in Brazil.
Rubem Galvâo, Sales Manager at Currencies Direct, noted that Brazilians are major investors in Portuguese real estate, and the launch aims to provide a streamlined service. The Luso-Brazilian Chamber of Commerce and Industry (CCILB) projects a 50% increase in Brazilian investment in Portugal over the next three years.
Pia Hauch, VP Growth at Redpin, stated that Currencies Direct leverages its experience to simplify payments, offering a fast and secure payment experience for both buyers and sellers.
Real estate partners can offer this service to their clients, benefiting from a dedicated partnership manager and a portal for tracking referrals and commissions.
Redpin’s goal is to build stronger relationships with partners in the property sector and work with 50,000 registered real estate professionals across 10,000 licensed agencies.
