Inter&Co (NASDAQ: INTR), a Brazil-based Fintech, commenced trading of its shares on the Nasdaq today. Inter&Co previously traded on Brazil’s B3 exchange.
As was previously reported, Inter&Co is seeking the greater liquidity and robust capital markets of the US as it plans its expansion. Inter&Co reports more than 20 million users in both Brazil and the US.
Inter&Co claims to be the first “digital bank” to go public in Brazil.
Inter&Co describes itself as a “Super-App” that offers banking services including credit cards, insurance, payments/transfers, and investments.
João Vitor Menin, Inter&Co’s CEO, said they are excited to trade on the Nasdaq and enter the next chapter of the company that started back in 2015:
“We are proud of our technology, our team and our achievement of surpassing 20 million customers, but this is only the beginning. We believe the best is yet to come. As Inter&Co becomes a fully listed U.S. company, we will gain access to the largest capital market in the world, remaining focused on further strengthening our market and financial positioning while delivering profitable growth.”
Menin added that they are already offering Brazilians, as well as ones located in the US, the ability to access a global account denominated in US dollars.
“Our mission continues to be focused on simplifying people’s lives through technology, with the best and most innovative products and solutions whether in digital banking, credit cards, insurance, investments, cross-border services, and shopping online, all under one single Super App,” said Menin.
Inter&Co shares will continue to trade in Brazil as a Brazilian Depositary receipt listed on B3 under the ticker “INBR31”, backed by the Class A Common Shares listed on Nasdaq.
