Business

Nubank gets Central Bank authorization to buy Easynvest

The acquisition of Easynvest involves about 1.5 million customers and BRL 26 billion in assets managed by the broker

Nubank logo, in front of the company's headquarters in São Paulo
Photo: Reuters/Paulo Whitaker
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  • Nubank is expanding its product offering in order to monetize its base of more than 35 million customers in Brazil and is preparing to go public;
  • Nubank and Easynvest are moving forward in the transition and integration of services plan, working together for the next steps.

Brazilian neobank Nubank said on Tuesday that it received authorization from the Central Bank for the purchase of brokerage Easynvest. This happens at the moment when Nubank expands its product offering in order to monetize its base of more than 35 million customers in Brazil and is preparing to go public.

The acquisition of Easynvest involves about 1.5 million customers and BRL 26 billion in assets managed by the broker.

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“While the final procedures for the acquisition are being dealt with, Nubank and Easynvest are moving forward in the transition and integration of services plan, working together for the next steps. For now, the platforms continue to operate with different experiences, apps and call centers,” Nubank said in a note.

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Last month, Nubank had announced its first investment funds, with testing of three multimarket funds with applications starting at BRL 1.

Also in April, Nubank has initiated preparations for a U.S. stock market listing that could come as early as this year, according to people familiar with the matter.

Translated by LABS.

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