March 18, 2021 |
Brazilian investment bank BTG Pactual said late Tuesday that it paid BRL72 million ($12.9 million) to buy online investment platform Kinvo Tecnologia da Informação as part of its digital expansion plans.
"This acquisition will expand BTG Pactual's digital ecosystem, complementing the offer of products that the bank offers and increasing the value perceived by its customers," the bank said in a securities filing.
Kinvo has more than 700,000 users with over BRL100 billion in registered investments
Brazilian investment bank spends $13 mln for the online investment platform