Inter&Co Inc., a significant player in the Brazilian financial sector, announced the acquisition of the remaining 50% stake in Granito, a merchant acquirer serving SMEs, from Banco BMG for $110 million BRL. The acquisition, which is subject to regulatory approval, aims to enhance Inter’s comprehensive financial super app by integrating Granito’s offerings. This strategic move is part of Inter’s growth plan to generate operational synergies and facilitate cross-selling, thereby solidifying its position in the market. CEO Joao Vitor Menin underscored that this step aligns with the company’s goal to disrupt the financial services industry and expand its footprint in Brazil.
Financial Services, Small and Medium-sized Enterprises (SMEs),Brazil
https://www.globenewswire.com/news-release/2024/05/28/2888932/0/en/Inter-Co-doubles-down-on-SMEs-through-acquisition-of-Granito.html