Industry Newsroom

Banco Inter Raises USD330 Million in Share Offering

Brazil-listed digital banking services provider Banco Inter has raised BRL1.24 billion (approximately USD330 million) via a share offering on Brazilian stock exchange B3. Japan-based technology conglomerate SoftBank Group reportedly acquired shares equivalent to an 8 percent stake in the company for approximately BRL760 million (USD201 million) as part of the offering. Banco Inter offers fee-exempt banking accounts, loans, and insurance services to customers in Brazil. The offering follows the company’s initial public offering in 2018.