XP Inc. acquires majority stake in Fliper to enhance user experience

By Akshay Kedari  | Date: 2020-06-09

XP Inc. acquires majority stake in Fliper to enhance user experience

Traditional banks are continually facing a difficult time in meeting the level of experience that todays customers expect. In a bid to offer a cutting-edge experience to users, XP Inc., the Brazilian investment management firm, has reportedly acquired a majority ownership stake in Fliper to provide its customers with additional resources to manage their investments.

From the past few years, the company has been putting its best foot forward to attract investors to improve and complement its investment platform. The deal, which is the part of XPs growth strategy, is subject to regulatory approval by the Brazilian Central Bank.

As per the press release, Walter Poladian, Renan Georges, and Felipe Bonani, the Founders of Fliper will remain as stakeholders in the company and have the authority to manage the entire business with the support of XP Inc. to drive sustainable growth.

For the record, established in 2017, Fliper is an automated investment platform that provides its customers with connectivity and tools to perform intelligent financial self-management.

The companys goal is to transform how users interact with financial institutes, providing a single view of their investment across numerous financial institutions. The company has more than R$7 billion of mapped assets on its platform and is expected to exceed 5 million customers in the forthcoming year.

Speaking on the partnership, Bruno Constantino, CFO of XP Inc. said that the solution would enable the company to enhance the experience of its clients who have accounts with over one financial institution. The company believes that this partnership further complements its ecosystem and has a great potential for long-term value creation, added Mr. Constantino.

Renan Georges, Founding Partner of Fliper ensures that the company will work in the same manner with all financial firms, offering transparency and always providing the best-in-class services aligning with their interests.

Source Credit - https://investors.xpinc.com/news-releases/news-release-details/xp-inc-acquires-stake-fintech-fliper-anticipation-ongoing-trend

 

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Google Fi confirms data breach, leaking millions of customer’s data

Google Fi confirms data breach, leaking millions of customer’s data

By Akshay Kedari

Google Fi, Google's cell network operator, has reportedly revealed a data breach, which is most likely related to the T-recent Mobile's security disaster, which allowed hackers to leak millions of customers' personal information. The p...

European semiconductor giant ASML forecasts a sales surge for 2023

European semiconductor giant ASML forecasts a sales surge for 2023

By Akshay Kedari

Dutch semiconductor company ASML has reportedly forecast a revenue jump for the year 2023 as the global semiconductor industry anticipates a reacceleration of growth during the second half of this year. According to the firm, its net sales  f...

Interfor Corporation acquires 100% equity interest in Chaleur Forest Products

Interfor Corporation acquires 100% equity interest in Chaleur Forest Products

By Akshay Kedari

Following this funding, Interfor's long-term debt will hold a weighted average interest of 5.30% Interfor registered a Net Debt to the Invested Capital ratio of nearly 10% as of October 31, 2022 Interfor Corporation, one of the world...

ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

By Akshay Kedari

Leading real estate services and investment company, ESR Group Limited, has recently announced that its exclusively-owned subsidiary, ARA and the Export-Import Bank of China have inked a breakthrough collaboration in a deal worth USD 1 billion infras...

Circularise nabs $11M to bring circular economy to industrial supply chains

Circularise nabs $11M to bring circular economy to industrial supply chains

By Akshay Kedari

Leading software platform, Circularise recently announced that it has raised $11.3 million (€11 million) in funding as part of its Series A round in a bid to advance its mission to bring a circular economy to industrial supply chains. The fun...