Nasdaq-Listed Inter&Co Rebrands its Remittances Business in US

The Company has rebranded its recently acquired remittances business to Inter and plans to expand its Super App services in US, in addition to offering cross-border transactions

BELO HORIZONTE, Brazil, Sept. 16, 2022 /PRNewswire/ -- Inter&Co (Nasdaq: INTR), a leading digital bank offering financial and non-financial services to more than 20 million customers in Brazil and US, announced today that USEND, a US fintech company specializing in remittances, that was recently acquired, is now rebranded Inter.

Inter offers its services to a growing client base of more than 150,000 customers across 40 states in the US. As a digital money transfer platform, it facilitates cross-border payments securely and quickly through its App.

Today, Inter's remittances business services are currently available for cross-border payments originating in the United States, Brazil, and Canada, to more than 60 destination countries. Inter also offers a global account to Brazilian customers living abroad that need an account in US dollars. With the rebranding, clients will have an improved interface and navigability. The fintech also plans to offer some of the capabilities and products its Super App in Brazil already has, including e-gifts, cashback and a marketplace.

"With the launch of the international account for Brazilians, we are revolutionizing once again the way people transact with banks. Our customers are now able to hold an account in a foreign currency, allowing for greater freedom as they travel, shop abroad or consume services. They transfer funds from their local accounts to the US-dollar account all within seconds in one single app. This model will soon be replicated for our US-based customers, expanding the revolution to the US market," said Inter CEO, João Vitor Menin.

Inter's expansion plan in the US will focus on further consolidating its remittances and cross-border payments for Brazilians living in the US and those traveling abroad, as well as expand to other underserved immigrant populations. "We know the Brazilian customer very well and Inter's U.S. strategy will target this market first. Next, we will offer our remittances product to other immigrants, and the international account to US residents. US customers will gain access to many of the features of Inter's Super App, including gift cards, cashback, shopping, along with banking and investments. We are very excited to introduce our successful Super App to the US market," stated João.

Inter&Co is the holding company of Inter Group and indirectly holds all of Banco Inter's shares. Inter is a digital bank that simplifies people's lives, where everything is integrated in a single app. Inter offers a complete range of services in banking, investments, credit, insurance and cross-border services, in addition to a marketplace that brings together the best retailers in Brazil and the United States. Inter&Co is listed on Nasdaq under the ticker INTR.

Contacts:

Grayling
Lucia Domville / Fabiane Goldstein
M +1 646. 824.2856/ +1 945.625.4793 
[email protected] / [email protected]

SOURCE Inter&Co