Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

XP Inc. Acquires Stake in Fintech Fliper in Anticipation of the Ongoing Trend Toward Open Banking

XP Inc.a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil, announces the acquisition of a majority ownership stake in Fliper, an automated investment consolidation platform that offers its users connectivity and tools to perform intuitive and intelligent financial self-management. The transaction allows XP Inc. to offer its customers additional resources to manage their investments, as the open banking trend continues to accelerate in Brazil.

The acquisition is part of XP Inc.’s growth strategy and reinforces the value that the company sees in innovative fintechs, constantly seeking to attract the best entrepreneurs to complement and improve its investment platform. Fliper’s founders (Felipe Bonani, Renan Georges and Walter Poladian) remain stakeholders in the company and maintain full independence to manage the business with the support of XP Inc.’s structure – security, technology, back-office and marketing – to drive sustainable growth.

Recommended AI News: NASA Announces Challenge Seeking Innovative Ideas to Advance Missions

Fliper was founded in 2017 with the purpose of transforming its users’ relationship with personal finance, providing a single view of their investments across several financial institutions, allowing automatic consolidation, comparison of portfolio performance and monitoring of the evolution of assets. Fliper has over R$7 billion of mapped assets on its platform and sees the potential to surpass 5 million users in the coming years.

Related Posts
1 of 23,071

“The solution will allow us to improve the experience of our clients, who in many cases have accounts with more than one financial institution. Our intention is that XP Inc. customers consolidate all their investments and services within the group’s platforms. We are confident that with even more transparency and the ability to compare the quality of products, this migration will continue,” commented Gabriel Leal, XP’s Commercial Director. “Both XP and Fliper carry innovation and disruption in their DNA. Hence, we believe the partnership further complements our ecosystem and has a great potential for long-term value creation,” added Bruno Constantino, the group’s CFO.

Recommended AI News: BioIQ Expands Return-To-Office Support Ecosystem to Help Employers Navigate COVID-19 Testing

Renan Georges, founding partner of Fliper, said: “being part of XP Inc. opens various opportunities for exponential business growth as we leverage synergies in the coming years. Also, as we remain independent, our users can be assured that we will work in the same manner with all financial institutions, offering transparency and always providing the best services aligning with their interests.”

The completion of the transaction is subject to approval by the Brazilian Central Bank.

Recommended AI News: ThetaRay Provides Banco Santander With an Anti-Money Laundering (AML) Solution

Leave A Reply

Your email address will not be published.