Santander has shuffled the deck a bit in the case of a Fintech acquired again in 2016. In response to a public doc Banco Santandar Brasil has offered Superdigital (previously ContaSuper) to Banco Santander Spain.
The Fintech was offered for R $ 270 million or about USD $ 60 million.
The doc states:
“Superdigital is a digital cost account answer, acquired by Santander in Brazil in 2016, and provides a worth proposal centered on monetary inclusion for society and the client expertise. Superdigital allowed Santander to start out an progressive manner of increasing the banking system of the Brazilian inhabitants, which is able to now be leveraged by the Santander Group’s world digital platform and expanded to different international locations through which Santander Group operates, permitting it to beat new prospects. That is one more initiative that strengthens the Santander Brasil´s ecosystem, bringing much more synergy between the companies, offering growth of the portfolio of services with a deal with the continual enchancment of service to our prospects. The operation will end in a optimistic reassessment of Superdigital’s development in Brazil and different international locations for the approaching years, with higher enterprise technology and beneficial properties of scale.”
Whereas launched in Brazil, one of many hottest Fintech markets in South America, Superdigital expanded into Chile on the finish of 2018. The notice above intimates that Santander intends to maneuver it into different international locations.
Immediately, Superdigital is a digital pockets and a stealth financial institution. The App-based service permits customers to maneuver cash out and in with out annual charges. Santander is, after all, a giant conventional financial institution desirous about Fintech innovation. Superdigital at the moment has 1.9 million accounts.