SoftBank Doubles Stake in Brazilian Zero-Fee Digital Lender
SoftBank has reportedly agreed to double its stake in Brazilian online lender Banco Inter in the midst of the Japanese giant’s ongoing buying spree in Latin America.
The deal will include acquiring stakes from controlling family members of the bank, unnamed sources told «Bloomberg», adding that Banco Inter CEO Joao Vitor Menin, who owns 5.4 percent, isn’t among the sellers.
In July, SoftBank bought an 8.1 percent stake in Banco Inter valued at around $186 million.
Banco Inter aside, Tokyo-based SoftBank has been in the midst of an ongoing buying spree in Latin America with about 300 targets in the region. SoftBank launched a fund in March to back tech firms in the region and has already spent more than $1 billion of its $5 billion of capital.
