Inter&Co doubles down on SMEs through acquisition of Granito
28 Mai 2024 - 1:33PM
Inter&Co Inc. (NASDAQ: INTR | B3: INBR32), announces that Banco
Inter S.A. entered into a share purchase agreement to acquire the
remaining 50 percent of Granito, a merchant acquirer that provides
financial services to more than 100,000 SMEs across Brazil. This
transaction will bolster Inter's portfolio, generate operational
synergies, and facilitate cross-selling opportunities within its
robust financial super app.
The transaction strengthens Inter's position as
a preferred partner for entrepreneurs and businesses in Latin
America's largest economy. Leveraging Granito's extensive SME
offerings, Inter reinforces its value proposition as an end-to-end
digital platform, further enhancing its ecosystem.
“By fully owning Granito, we will further
enhance our value proposition to our customers, making our
financial super app a full suite of solutions to business owners
and entrepreneurs. It also further expands our footprint in the
Brazilian market” said Joao Vitor Menin, CEO of Inter&Co. “This
is another step to continue disrupting the financial services
industry by creating convenience, driving operational excellence,
and delivering value to our shareholders as outlined in our
60-30-30 plan.”
Banco Inter S.A., a fully owned subsidiary of
Inter&Co, previously owned 50 percent of Granito, which will be
renamed to Inter Pag. The purchase of the residual
50% of capital stock from Banco BMG S.A. was agreed for $110
million BRL.
Inter&Co will inform its shareholders and
the market about the completion of the transaction, which is
subject to approval by the Central Bank of Brazil and the
Administrative Council for Economic Defense of Brazil (CADE), and
the fulfillment or, otherwise, waiver of other conditions precedent
by Banco Inter S.A. and Banco BMG S.A., as applicable.
Additional information may be obtained from
Inter&Co's Investor Relations Department at ir@inter.co, or on
Inter&Co’s website, hkp://investors.inter.co.
About Inter&CoInter&Co (NASDAQ: INTR),
the company that controls Banco Inter in Brazil and the subsidiary
Inter&Co Payments, is the pioneering financial super app
serving over 32 million customers across the Americas. The Inter
ecosystem offers a broad array of services, including banking,
investments, mortgages, credit, insurance, and cross-border
payments. The financial super app also boasts a dynamic
marketplace, linking consumers with shopping discounts, cashback
rewards, and exclusive access to marquee events across the globe.
Focused on innovation and captivating member experiences,
Inter&Co delivers comprehensive financial and lifestyle
solutions to meet the evolving needs of modern consumers.
Investor Relations: Santiago Stel
ir@inter.co
Media Relations: Chemistry Cultura
interco@chemistryagency.com
Kaio Philipe kaio.philipe@inter.co
Inter (NASDAQ:INTR)
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