Business

Nubank's broker Easynvest buys Vérios, a fintech known for its investment robot Ueslei

The deal brings to Easynvest more than BRL 400 million in investments managed by Vérios

Fernando Miranda, CEO of Easynvest, and Felipe Sotto-Maior, CEO of Vérios
Fernando Miranda, CEO of Easynvest, and Felipe Sotto-Maior, CEO of Vérios, at the brokerage's headquarters in São Paulo. Photo: Pedro Moleiro / Easynvest / Courtesy
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  • According to the statement, Vérios’ team will work integrated with Easynvest;
  • The co-founder and CEO of the investment manager, Felipe Sotto-Maior, will continue to lead Vérios operations, now in the role of manager, within Easynvest’s digital business board.

The digital investment platform Easynvest – the largest independent broker in Brazil – announced on Wednesday the acquisition of the investment manager Vérios. According to both companies’ statements, the deal brings Easynvest a volume of more than BRL 400 million in investments managed by Vérios. The broker’s 1.6 million customers will also have access to Vérios’ investment robot, which allocates investments in an automated way, using artificial intelligence and machine learning technologies. Currently, the brokerage has BRL 25 billion of assets in custody.

“The acquisition marks the emergence of a winning duo: the largest digital broker and the best investment robot in the country, an important ally in financial education, our priority. We share the same values: practicality, transparency, and security,” said Fernando Miranda, Easynvest’s CEO, in the statement.

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Founded in 2012, Vérios is a fintech that uses machine learning to manage investments through “Ueslei,” the company’s robot’s name. The acquisition by Easynvest is the result of a partnership between the two companies that started in August 2020.

According to the statement, Vérios’ team will work integrated with Easynvest. The co-founder and CEO of the investment manager, Felipe Sotto-Maior, will continue to lead Vérios operations, now in the role of manager, within Easynvest’s digital business board.

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Sotto-Maior sees the acquisition by Easynvest as a natural path for Vérios and the company’s clients. As they learn about investing through a robot, they would also need access to products and services from a broker such as Easynvest.

In September, Nubank announced the acquisition of 100% of Easynvest, debuting in the investment world. In October, the Brazilian competition watchdog Cade approved the operation. However, the acquisition still depends on the Central Bank’s approval to be completed. After that, the idea is that the more than 30 million Nubank customers will also have access to the services of Easynvest and, now, of Vérios.

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