Japan’s Softbank Group Invests in Brazilian Fintech Banco Inter

Brazilian financial start-ups, such as Banco Inter and Nubank, have lured clients by offering no-fee bank accounts, challenging traditional banks.

RIO DE JANEIRO, BRAZIL - Reuters reports that Brazilian online lender Banco Inter SA raised R$1.3 billion (US$343 million) in a share offering that lured Japan's Softbank Group as an investor, a source with knowledge of the matter said on Monday.

The bank priced its units, comprised of one common share and two preferred shares each, at R$39.99, the source added, without disclosing the number of shares acquired by Softbank.

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