Technology

Brazilian neobank, Banco Inter reaches 1,500 employees

The company has the goal of becoming the sixth largest bank in Brazil in the coming years

Banco Inter's CEO João Vitor Menin.
Banco Inter's CEO João Vitor Menin. Photo: Inter/Courtesy
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  • According to the company’s press office, Banco Inter is moving to a new building in the Southern region of the city of Belo Horizonte, where it will occupy 13 floors;
  • The move to the new headquarter is expected to be fully completed by February 2020.

In just over two years, Banco Inter went from 769 to over 1,500 employees. The number is from the last month of September. In October, the Brazilian neobank launched its super app–in practice, a multi-partner marketplace with products and services offered to the platform’s more than 3.7 million customers.

According to the company’s press office, Banco Inter is moving to a new building in the Southern region of the city of Belo Horizonte, where it will occupy 13 floors. The move to the new headquarter is expected to be fully completed by February 2020.

Banco Inter's new headquarters
Inter’s new headquarters in the city of Belo Horizonte. Photo: Courtesy

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According to Banco Inter’s CEO, João Vitor Menin, more than 12,000 accounts are being opened every day. In a conference call with analysts in the release of last quarter results, Menin said he believed fintech could reach 8 million customers by 2020.

Inter wants to be the sixth largest bank in Brazil. To do so, it needs to surpass institutions such as PAN, Sicredi, Omni, BMG and Banrisul, which have 4.32 million, 4.37 million, 4.56 million, also 4.56 million and 4.87 million customers, respectively, according to data from the third quarter of this year from the Brazilian Central Bank. Not to mention Nubank, which rose from 15 million customers in October but still does not operate as a financial institution or offer all the services of a bank, although it has been authorized to do so since the end of 2018.

In addition to its headquarters in Belo Horizonte, Banco Inter also has an office in São Paulo.