What is Banco Inter?
Is Stoneco a Brazilian company?
Banco Inter acts as a service platform in Brazil providing banking, marketplace, credit, insurance, and investment services to about 10.2 million users. Under the agreement, StoneCo will pick up a minority stake in Banco Inter for about $471 million by acquiring its newly issued shares in a follow-on public offering.
Is Banco Inter SA publicly traded?
High-profile Brazilian fintech StoneCo (NASDAQ: STNE) is gearing up for a big investment. The company announced Monday that it has signed a definitive agreement to invest in Banco Inter, a digital bank also based in Brazil. This will give StoneCo a stake of, at most, just under 5% of its peer.
