Banco Inter Hopes USEND Purchase Will Grow Global Business

Banco Inter acquired American-based fintech USEND. The fintech company operates in the financial services and foreign exchange market. It offers cross-border payments and remittances between countries. According to Marketscreener, Banco Inter acquired USEND to expand beyond its South American borders. The company will offer services to US residents and build a global customer base.

Acquisition details

Banco Inter Chief Executive João Vitor Menin did not disclose the deal value when announcing the purchase on Friday, 27 August 2021. She said that acquiring USEND is its most significant move since listing its shares in 2018. Banco Inter agreed to the deal to expand into the US market and integrate its financial services. The acquired firm provide foreign exchange transactions, de...

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