Draft:Inter&Co

Draft article not currently submitted for review. This is a draft Articles for creation (AfC) submission. It is not currently pending review. While there are no deadlines, abandoned drafts may be deleted after six months. To edit the draft click on the "Edit" tab at the top of the window. To be accepted, a draft should: Show the subject qualifies for a Wikipedia article by using multiple sources that meet four criteria. The sources should be (1) reliable (2) secondary (3) independent of the subject (4) talk about the subject in some depth. For some topics, there are alternative criteria. Be written from a neutral point of view Respect copyright and do not plagiarize. Do not copy-paste. It is strongly discouraged to write about yourself, your business or employer. If you do so, you must declare it. Where to get help If you need help editing or submitting your draft, please ask us a question at the AfC Help Desk or get live help from experienced editors. These venues are only for help with editing and the submission process, not to get reviews. If you need feedback on your draft, or if the review is taking a lot of time, you can try asking for help on the talk page of a relevant WikiProject. Some WikiProjects are more active than others so a speedy reply is not guaranteed. How to improve a draft Wikipedia:Contributing to Wikipedia – a basic overview on how to edit Wikipedia. Help:Wikitext – how to use the markup Help:Referencing for beginners – how to include references Wikipedia:Article development – how to develop your article Wikipedia:Writing better articles – how to improve your article Wikipedia:Verifiability – make sure your article includes reliable third-party sources You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Add tags to your draft Editor resources Easy tools: Citation bot (help) | Advanced: Fix bare URLs Last edited by Qwerfjkl (bot) (talk | contribs) 2 seconds ago. (Update) Submit the draft for review!

Inter&Co is a Brazilian fintech company providing banking and financial services in Brazil and the United States.^{[1][2][3][4][5]}

Inter&Co was founded on January 26, 1994, by João Vitor Menin in Belo Horizonte, Brazil.^[6][7][8] Originally established as a traditional bank in the 1990s, the company transitioned into a digital bank by 2015.^[9] Since then, it has expanded its offerings beyond traditional banking services to include a digital banking super app, which provides services such as banking, bill payments, savings, investments, and shopping rewards.^{[10][11][12][13][14][15][16]}

In 2023, Inter&Co set up its U.S. headquarters in Miami and completed the acquisition of Granito in 2024 to enhance its operations in the U.S. market. On July 17, 2024, Alexandre Riccio was appointed as CEO of Inter&Co Brazil, with João Vitor Menin transitioning to the global CEO role.^[17][18] By 2024, the company reported having over 30 million clients, representing a 24% increase compared to the previous year.

On September 14, 2023, Inter&Co announced a partnership with Orlando City SC and Orlando Pride to become their official financial services provider. This marked the company's first collaboration with an NWSL club and its second with an MLS team, following a partnership with New York City FC in 2022.^[19] As part of this initiative, Exploria Stadium was renamed Inter & Co Stadium under a one-year naming rights agreement. This made Inter&Co the first Latin American financial institution to secure naming rights for a major U.S. stadium.^[20][21]

In December 2021, the company announced the cancellation of its plans to list on the Nasdaq, opting instead for a share buyback in January 2022. However, the company later pursued a corporate reorganization and, in May 2024, obtained shareholder approval to go ahead with the Nasdaq listing. Following this approval, Inter & Co formally listed its shares on the Nasdaq under the ticker symbol INTR in 2024, migrating from Brazil’s B3 stock exchange. Despite the Nasdaq listing, the company continues to trade on B3 as a Brazilian Depositary Receipt (BDR) under the ticker symbol INBR31, with the BDRs backed by the Class A Common Shares listed on Nasdaq.^[22]

In the second quarter of 2024, Inter & Co reported a 33% year-on-year increase in revenue, totalling 1.9 billion reais ($386.7 million), with a net income of 64 million reais, surpassing analyst projections. The company's client base grew to approximately 27.8 million, with 52.2% of clients utilizing multiple services within its "super app." The loan portfolio expanded by 5.4% to 26.5 billion reais, while non-performing loans over 90 days increased to 4.9%, which the company indicated may have reached a peak. Operating expenses fell to 575 million reais, partly due to a reduction in workforce. Shares of the company rose by 10% in New York, influenced by recent central bank monetary easing policies.^[23]