Inter announces the conclusion of the acquisition process of the American fintech USEND

January 26, 2022
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Banco Inter announced yesterday (25) that it had received all authorizations in the US and Brazil to acquire 100% of USEND, an American fintech specialized in offering financial and non-financial services to a base of over 150,000 customers spread across 40 states.

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USEND's digital money transfer platform allows users to make international transactions securely and quickly through the app. Services are currently available for transfers originating in the United States, Brazil and Canada, to over 60 destination countries.

USEND also offers an American digital account for individuals and companies to make transfers in US dollars quickly, securely and 100% online, and processes payments from several international platforms in Brazil, such as: Payoneer, Google, Airbnb, Hotmart, Taboola, TripAdvisor, Udemy and more.

With this acquisition, Inter will accelerate and strengthen its position as a new player among US fintechs, bringing additional products and services to digital customers globally. The plan is to roll out Inter's Super App features and products to US customers, including marketplace and cashback, serving as a hub for whatever needs they might have in a borderless world.

The integration of the two companies will result in an Inter platform that offers financial and non-financial products to immigrant customers living abroad, Brazilian customers who want to access international products and the general American population looking to obtain the benefits of a Super Application.

“Our digital account will allow the customer to buy their air ticket, transfer dollars to the international account and pay their travel expenses, all in a single application. And those are just the first steps. Our plan includes an international account for US Residents, scheduled to be launched in the second half of the year,” said Inter CEO João Vitor Menin.

Inter ended 2021 with 16.3 million customers and an NPS of 83 points, in the zone of excellence. The marketplace reached nearly $700 million in GMV in 2021, up 200% from 2020, with 2.7 million active customers and a 72% recurrence rate.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

USEND's digital money transfer platform allows users to make international transactions securely and quickly through the app. Services are currently available for transfers originating in the United States, Brazil and Canada, to over 60 destination countries.

USEND also offers an American digital account for individuals and companies to make transfers in US dollars quickly, securely and 100% online, and processes payments from several international platforms in Brazil, such as: Payoneer, Google, Airbnb, Hotmart, Taboola, TripAdvisor, Udemy and more.

With this acquisition, Inter will accelerate and strengthen its position as a new player among US fintechs, bringing additional products and services to digital customers globally. The plan is to roll out Inter's Super App features and products to US customers, including marketplace and cashback, serving as a hub for whatever needs they might have in a borderless world.

The integration of the two companies will result in an Inter platform that offers financial and non-financial products to immigrant customers living abroad, Brazilian customers who want to access international products and the general American population looking to obtain the benefits of a Super Application.

“Our digital account will allow the customer to buy their air ticket, transfer dollars to the international account and pay their travel expenses, all in a single application. And those are just the first steps. Our plan includes an international account for US Residents, scheduled to be launched in the second half of the year,” said Inter CEO João Vitor Menin.

Inter ended 2021 with 16.3 million customers and an NPS of 83 points, in the zone of excellence. The marketplace reached nearly $700 million in GMV in 2021, up 200% from 2020, with 2.7 million active customers and a 72% recurrence rate.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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