Bradesco reportedly to buy a stake in C6 bank, says O Globo

The transaction, according to the publication, would be close to BRL 2 billion

Brazil's fintech unicorn C6 Bank. Photo: Shutterstock

06.Jul.2020 12:53 BRT

Brazilian fintech C6 Bank, born in August 2019, is reportedly in the final stage of having a stake acquired by Bradesco, one of the five largest banks in the country;
Bradesco already has a digital bank, called Next;
In June, C6 Bank announced it had hit 2 million clients;
The fintech refused to comment on the transaction.

According to information from the Brazilian newspaper O Globo, Bradesco, one of the five largest banks in the country, is in the final stage of negotiations to acquire a stake in the Brazilian fintech C6 Bank. The transaction, according to the publication, would be close to BRL 2 billion.

Founded by Marcelo Kalim, a former executive of the major Brazilian investment bank BTG-Pactual, C6 Bank was born in August 2019 and has, so far, launched a handful of new features such as a US dollar digital account to an incubator open to the community, as well as a reward program free of charges and a B2B operation focused on a pack of services for SMBs. In June, the fintech published in its Twitter account that it had reached 2 million clients.

Asked by LABS about the deal, C6 Bank refused to comment on the operation.