Porto Seguro and Petlove launch Porto.Pet
Petlove, the largest digital ecosystem for pet owners in Brazil, and Health for Pet, a branch of the Porto Seguro business group, announced the conclusion of an agreement that will combine their operations within the Brazilian market. Porto Seguro will hold a 13.5% interest in Petlove and, in return, will transfer the ownership rights of Health for Pet to the e-commerce company. This alliance will also result in the launch of Porto.Pet, a service that will replace Health for Pet’s insurance activities and become part of the Petlove ecosystem, whilst having Porto Seguro as a strategic shareholder.
Petlove will operate on an expanded portfolio and Porto Seguro will be able to offer Petlove’s entire set of solutions to its customer base. The combination of the companies occurred a few months after Petlove merged with DogHero, the largest pet services company in Latin America, acquired Vetus, one of the largest management systems for animal clinics, and received significant contributions from Softbank and L Catterton.
“This synergistic enterprise reinforces our mission of becoming the largest platform for pet products and services, while also guaranteeing ultimate convenience to all links in the pet chain: not only for pet tutors, but also for doctors, veterinary clinics, hospitals and pet shops from all over Brazil. The combination between Porto Seguro and the Petlove ecosystem, as well as the launching of Porto.Pet, are important steps towards expanding our vetenarian’s sphere of influence within the brazilian market. These professionals are our key to success.” – Marcio Waldman, founder of Petlove.
“It is an opportunity that will strengthen our objective of integrating businesses, making client-centered decisions, and expanding the number of solutions offered within the pet market. Launching Porto.Pet and joining Petlove is an important step towards accelerating Porto Seguro’s strategic growth. We want to improve the life of pet tutors by developing a complete ecosystem dedicated towards Insurance, Health, and Financial Services.” – Marcos Loução, Vice President of Financial Business and Services at Porto Seguro.
