Business

Brazilian competition watchdog approves Nubank's Easynvest acquire

As a result, Nubank will hold 100% of the capital share of the broker

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  • For Easynvest, the business will further enhance growth;
  • For Nubank, it represents the fintech’s debut in the investment market.

Brazilian competition watchdog (Cade, in Portuguese) approved Nubank‘s Advent-backed broker Easynvest acquisition. As a result, Nubank will hold 100% of the capital share of the broker, said Época Negócios.

For Easynvest, the business will further enhance growth. This year, the broker took advantage of the low-interest environment to accelerate its expansion, hiring the American bank JPMorgan in June to look for a partner who could help it with that goal, says Exame.

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For Nubank, it represents the fintech’s debut in the investment market. Nubank has a working group to plan the next steps for integrating services, to be initiated after approval by regulators: besides Cade, the Brazilian Central Bank has to approve it as well.