Business

BTG Pactual acquires 100% of fintech Kinvo for BRL 72 million

Kinvo allows users to consolidate investments from several institutions into a single portfolio

Photo: REUTERS/Amanda Perobelli
Ler em português
  • In a statement, BTG explained that Kinvo has more than 700,000 users, who add up to more than BRL 100 billion in registered investments;
  • The platform allows users to consolidate investments from several institutions into a single portfolio.

Brazil’s BTG Pactual (financial company that operates in the markets of investment banking, wealth management, asset management, and trading) reported on Tuesday that it acquired 100% of shares of the fintech Kinvo for BRL 72 million.

In a statement, BTG explained that Kinvo has more than 700,000 users, who add up to more than BRL 100 billion in registered investments. The platform allows users to consolidate investments from several institutions into a single portfolio.

READ ALSO: Legal Framework for Startups: We need to resume the stock options proposal for startups in Brazil

“This acquisition will expand BTG Pactual’s digital ecosystem, complementing the product offering that the bank offers and increasing the value perceived by its customers,” said BTG, adding that it will keep the brand and operation independent.

(Translated by LABS)

Get the best insights about Latin America market in your inbox