Business

The Brazilian neo-bank Banco Inter will launch a wealth management operation

The new operation arises from the acquisition of the DLM asset manager, carried out at the end of 2019 by the Brazilian fintech

Banco Inter's new headquarters
Inter's new headquarters in the city of Belo Horizonte. Photo: Courtesy
  • The novelty comes at a special moment for Banco Inter. This month, when announcing its second-quarter results, the Brazilian neobank surpassed the mark of 6 million customers;
  • The marketplace launched by the company in November last year closed June with BRL 180 million in transactions.

Aiming its main goal, which is becoming a super app, the Brazilian neobank Banco Inter will launch in the next few days a new wealth management operation, according to information anticipated by Neofeed.

The new operation arises from the acquisition of the DLM asset manager, carried out at the end of 2019 by the Brazilian fintech. According to Neofeed, it would be BRL 1.8 billion in direct administration, and a total of BRL 4 billion under management.

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The novelty comes at a special moment for Banco Inter. This month, when it announced the preview of its second-quarter operating results, the Brazilian neobank surpassed the mark of 6 million customers. The marketplace launched by the company in November last year closed June with BRL 180 million in transactions.

The fintech has also created a mobile operator, called Intercel, in partnership with Surf Telecom, introduced insurance sales to its portfolio and reinforced its investment product offerings.

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According to Neofeed, the new area will be called Win, Inter Wealth Management, and will be aimed at private clients.

“But it is a more democratic private, for those with more than BRL 1 million”, said João Vitor Menin, president of Inter, with exclusivity to Neofeed. Large banks generally classify as private clients the ones with BRL 3 million to BRL 5 million in investments. Banco Inter’s goal is to make customers invest within the bank’s platform, all within the super app.