Banco Inter Acquisition of Fintech Usend is Signed

Banco Inter acquisition of Usend will allow the bank to provide additional international services to its clients.

Banco Inter reported that the signing of the Merger Agreement to acquire Fintech Usend (Pronto Money Transfer) was concluded. Usend is a Fintech based in the United States, with subsidiaries in Brazil, Canada and the United Kingdom. Banco Inter signing of the acquisition of Usend was announced this Monday (22)

Sources tell Beyond the Law.News that the Merger Agreement provides that the transaction is subject to compliance with the usual conditions precedent to an operation of this nature.

Aloisio Matos, partner and head of Usend’s Brazilian operations, informed in a Linkedin post that the main executives of Usend, including the founder and CEO, will continue to lead the American operation and Usend’s integration into the Inter group.

Based in the United States, among other products Usend offers exchange and payment services, as well as a digital account solution for national and international transfers of monies.

The Esquires

Demarest Advogados advised Banco Inter S.A. in the signing of the agreement for the purchase of 100% of the shares of Pronto Money Transfer, Inc., parent company of USEND.

Demarest Advogados deal team was led by partner José Diaz (pictured) and associate Fábio Tayar.

Demarest Advogados is one of Brazil’s most traditional law firms and a full service firm with headquarters in São Paulo and offices in Rio de Janeiro, Brasilia and New York.