Paulo Costa is the new CEO of Cubo, the innovation hub of Itaú Unibanco

In 2021, Cubo's startups received around $632 mln in investments, 60% more than in 2020.

Data: 11/12/2018 Local: Cubo Itau - Alameda Vicente Pinzon, 54 - Vila Olimpia, São Paulo - SP Cliente: Cubo Itau Pauta: Banco de imagens do Cubo Itau. Assistente: Alisson Fagner Foto: Celso Doni

Last Friday, Cubo, the innovation hub of the largest bank in Latin America, Itaú Unibanco, announced Paulo Costa as its new chief executive, replacing Pedro Prates.

Costa spent the last two years at investment fund manager Neo. Previously, he has also worked for five years at Accenture.

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Prates, in his turn, now joins Anderson Thees and Manoel Lemos on Itaú Unibanco’s startup investment platform, announced by the bank’s president, Milton Maluhy, in April.

In 2021, Cubo Itaú startups received around BRL 3 billion ($632 mln) in investment, 60% more than in 2020.

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