Inter&Co Marks One Year on Nasdaq
23 Junho 2023 - 10:21AM
Inter&Co, Inc (Inter), (NASDAQ: INTR | B3: INBR32), the premier
Super App which provides financial and digital commerce services to
more than 26 million customers, today announced key significant
milestones and achievements in the year since its listing of its
Class A Common Shares on Nasdaq on June 23, 2022.
Considered one of the top players in the
Brazilian fintech market, Inter has demonstrated a consistent
growth trajectory while expanding its successful model and platform
to the US. In just a year, the company has already reached 1.7
million global users with more than $USD 200 million in deposits
plus investments. These achievements are a testament to the
strength of the performance of the Inter Global business vertical,
the company’s latest initiative and product suite that provides
consumers with a US bank account and debit card. Global users also
have the ability to send remittances, make investments, pay bills,
buy gift cards from US brands, and take out mortgages. Looking
ahead, Inter remains focused on continuing the success of the
current products by introducing additional features to the US
market, such as credit cards and insurance products all within a
single Super App.
This move follows the first anniversary of
Inter's migration from B3 to Nasdaq, a decision that demonstrated
the company's commitment to innovation and its long-term vision for
the global market. “Leveraging our brand strength, technology, and
entrepreneurial mindset, we are proud to celebrate our one-year
listing anniversary on Nasdaq, with significant milestones in our
global expansion,” said Inter&Co CEO João Vitor Menin. “As we
replicate our Super App’s success in the US, we have witnessed
robust client adoption and engagement, only affirming our
confidence in the company’s ability to deliver best-in-class
products to simplify the lives of millions of users beyond
Brazil.”
“Inter Global has exceeded our expectations,
growing at a much faster pace than anticipated, using a lean
investment approach and avoiding customer acquisition costs,” said
Santiago Stel, Inter’s Strategy and IR Officer. “We’ve seen
remarkable performance driven by an engaged client base, and a tech
platform that has enabled seamless expansion into the US market
with efficiency. Notably, this achievement has been made possible
with minimal investments, rapid adoption, and by leveraging our
existing capabilities.”
Inter recently released its Q1 2023 earnings
results, which garnered positive market attention with highlights
in operational efficiencies and successful client activation
strategies. The efficiency ratio reached 62% in the period, 9.5
percentage points less than a year ago. Meanwhile, more than 65% of
active customers consume three or more Inter products. The company
also reported a robust first quarter in 2023 in terms of total
gross revenue, which reached R$1.8 billion, up 41% year-over-year
(YoY). Since the latest earnings release on May 8th, INTR stocks
grew 71%.
About Inter&Co
Inter&Co is the holding company of Inter
Group and indirectly holds all of Banco Inter’s shares. Inter is
the premier Super App providing financial and digital commerce
services to more than 26 million customers. We offer a complete
range of solutions, including banking, investments, credit,
insurance and cross-border services, in addition to a marketplace
that brings together the best retailers in Brazil and the United
States.
Contacts:
Ideal
Amanda Shareghi
M +1 831 818 2893 / +1 213 631 5437
amanda.shareghi@ideal.pr
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