Business

Bradesco reportedly to buy a stake in C6 bank, says O Globo

The transaction, according to the publication, would be close to BRL 2 billion

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  • Brazilian fintech C6 Bank, born in August 2019, is reportedly in the final stage of having a stake acquired by Bradesco, one of the five largest banks in the country;
  • Bradesco already has a digital bank, called Next;
  • In June, C6 Bank announced it had hit 2 million clients;
  • The fintech refused to comment on the transaction.

According to information from the Brazilian newspaper O Globo, Bradesco, one of the five largest banks in the country, is in the final stage of negotiations to acquire a stake in the Brazilian fintech C6 Bank. The transaction, according to the publication, would be close to BRL 2 billion.

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Founded by Marcelo Kalim, a former executive of the major Brazilian investment bank BTG-Pactual, C6 Bank was born in August 2019 and has, so far, launched a handful of new features such as a US dollar digital account to an incubator open to the community, as well as a reward program free of charges and a B2B operation focused on a pack of services for SMBs. In June, the fintech published in its Twitter account that it had reached 2 million clients.

Asked by LABS about the deal, C6 Bank refused to comment on the operation.