The Brazilian investment platform XP Inc. announced today the merger of two of its largest platforms: InfoMoney, a financial news website with more than 18 million monthly views, and Fliper, an automated investment consolidation platform with around 500,000 users.
The result is IM+ (InfoMoney Plus), an ecosystem that brings together journalistic content, market news, data intelligence and analysis, and financial management and investment portfolio consolidation features. According to XP, IM+ was designed to be the place where people find all they need to make better financial decisions.
Despite the merger, InfoMoney will continue to operate as a news website; Fliper will cease to exist and its app will be upgraded to the new IM+ app, launched in beta this Wednesday.
The new app joins InfoMoney’s informative content with the former Fliper’s investment consolidator service. With this, Fliper’s 500,000 user base will automatically switch over to IM+.
The IM+ app is free and available for Android and iOS smartphones. In the app, the user will have access to news and stock prices in real-time and features such as automated financial management (with income and expenses, credit card consolidator, and others); automatic investment consolidation; portfolio profitability, and equity evolution chart.
The aim of XP is to make IM+ a kind of one-stop-shop for the Brazilian investor, offering a complete experience of content and technology. XP expects to bring to IM+ more than 2.5 million users by the end of 2022.
“Our mission is to bring more information, data, and tools to guide Brazilians in their financial and investment decisions, personalizing their experience and helping them achieve their dreams for the future,” said Karel Luketic, partner at XP Inc. and in charge of IM+.
IM+ debuts with a team of over 150 employees, half of whom are technology, engineering, and data professionals. To boost the new platform, XP says it has already planned a series of investments for next year.