StoneCo signs investment agreement with Banco Inter

By Pavithra R

StoneCo, a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, has announced entering into a definitive investment agreement with Banco Inter, a leading and fast-growing digital bank in Brazil.

Established in 1994, Banco Inter provides digital banking services in Brazil, acting as a service platform aiming to simplify people’s lives. It has a large user base (10.2 mm users as per March 31, 2021) and a proven track record in product and services deployment, offering a complete suite of products and services to individuals (banking, marketplace, credit, insurance, investments).

Under the deal, Stone will invest up to R$2.5 bn in newly issued shares issued by Banco Inter, becoming a minority investor of Banco Inter after the transaction. The Investment will be implemented through a Follow-On Public Offering conducted by Banco Inter.

Both Inter and Stone teams are working together to explore and engage in partnership opportunities aimed at bringing Inter consumers to Stone merchants, as well as maximize the value proposition for both Inter’s consumer and Stone’s seller ecosystems. A few of the value creation avenues being explored are:

• Connect Stone merchants to InterShop, driving the digitization of Stone merchant base and providing an omnichannel journey for Intershop consumers.
• Enable a seamless mobile payment experience between Inter consumers and Stone merchants, online and offline.
• Enhance value proposition to Stone and Inter client base, by leveraging product and payment technology capabilities from both companies.
• Leverage Inter’s funding capabilities to drive efficiency in Stone’s working capital offerings as well as giving Inter clients access to new investment opportunities in fixed income, through the offering of FIDCs.