Brazil's Banco Inter seeks up to $260 mln in capital to fuel growth -source [Reuters]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: Reuters
Brazil's Banco Inter seeks up to $260 mln in capital to fuel growth -source - Reuters 3 Min Read SAO PAULO, June 11 (Reuters) - Brazilian online lender Banco Inter SA is seeking to raise between 800 million reais and 1 billion reais ($260 million) to fund new growth initiatives through a capital increase, one source familiar with the matter said. Earlier on Tuesday, Banco Inter said in a securities filing it was considering a capital increase, without saying how much it planned to raise. Inter intends to use the proceeds to expand its smartphone app to provide services beyond banking such as travel, food delivery services, healthcare and entertainment, the source said. The strategy of offering a wider menu of services through partnerships is modeled on that pursued by Russia’s Tinkoff Bank, owned by consumer lender TCS Group, the person added. The capital hike plan comes as competition in Brazil’s financial sector heats up, with retailers such as MercadoLibre Inc, Magazine Luiza SA an
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MELI
Earnings
- 5/2/24 - Beat
MELI
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/25/24 - Form DEFA14A
- MELI's page on the SEC website