Business

Brazilian fintech Banco Inter reaches 8 million users

There were 4 million new accounts registered with the financial institution this year

Inter’s CFO, Helena Lopes Caldeira. Photo: Courtesy

Brazilian neobank Banco Inter has reached the mark of 8 million users amid the COVID-19 pandemic, it has announced on its social networks. The fintech doubled the number of users from 2019 to 2020. There were 4 million new accounts registered with the financial institution this year, according to SeuCréditoDigital.

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The search for fintechs is growing, mainly because of digital facilites amid a social distancing period. Also, Banco Inter, alongside with Nubank and other neobanks also acted as middlemen to the Brazilian government’s emergency aid to mitigate losses from the COVID-19 economic crisis.

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