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

Apple announces new accessibility features including ‘Personal Voice’

Apple announces new accessibility features including ‘Personal Voice’

By Akshay Kedari

America’s technology giant Apple reportedly announced that it will soon launch "Personal Voice" with a new set of accessibility features. This will allow iPhone and iPad users to make their devices speak in their own voice, allowing u...

Cop28 to emphasize on health issues related climate conditions

Cop28 to emphasize on health issues related climate conditions

By Akshay Kedari

According to reliable sources, the upcoming United Nations Climate Change Conference, to be held in November 2023, will be the flagbearer for conducting a meeting of the global health ministers discussing the consequences of climate crisis on public ...

Hyundai-Kia combined earnings to exceed Toyota in a rare occurrence

Hyundai-Kia combined earnings to exceed Toyota in a rare occurrence

By Akshay Kedari

As per the reports, South Korean automaker Kia Corp., along with its parent Hyundai Motor Company, are anticipated to outperform Toyota Motor Corp. in the Q1 earnings for the first time ever. The combined operating profits for Hyundai & Kia wa...

Meta continues mass layoff spree, cuts another 4,000 jobs this week

Meta continues mass layoff spree, cuts another 4,000 jobs this week

By Akshay Kedari

Silicon Valley tech giant, Meta Platforms Inc., formerly known as Facebook, is reportedly cutting another 4,000 jobs this week in another round of mass layoffs. The latest job cuts are a part of the 10,000 layoffs announced in March. The company i...

Stoke Space unveils tracking software for development of complex hardware

Stoke Space unveils tracking software for development of complex hardware

By Akshay Kedari

Stoke Space, a space launch company, has reportedly introduced a new software tool designed to allow hardware companies to monitor the design, assessment, and integration of complex parts. Dubbed Fusion, the tool is set to target one of the most cruc...