Brazilian neobank C6 Bank had a net loss of BRL 606 million in 2020, a gap 149% worse than that recorded in 2019, of BRL 243 million. According to Valor Econômico, the institution stated that the result stems from investments made in its operational structure.
The results still show that the bank brokered BRL 16.787 million in 2020, a drop of 14% compared to the previous year; service revenue grew 271%, reaching BRL 123.9 million.
Last December, C6 Bank announced that it raised BRL 1.3 billion from a group of about 40 private investors, which evaluated the digital bank at BRL 11.3 billion.
On the occasion, C6 Bank’s president Marcelo Kalim said that with the capital increase resulting from the infusion, the group will invest in increasing the customer base, expanding the investment platform, and advancing in new lines of business.