Uber and Banco Inter in talks to forge partnership in Brazil

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Uber and Banco Inter in talks to forge partnership in Brazil

The Brazilian lender, Banco Inter SA, founded back in the 1994s and headquartered in Belo Horizonte in the Brazilian state of Minas Gerais, had been in talks with the San Francisco-based ride-sharing pioneer Uber Technologies Inc.

to rubberstamp a joint venture in financial services, a source with knowledge regarding the subject-matter had unveiled late on Sunday (October 13th). Besides, followed by reveal of media reports that the Brazilian lender and the US-based ride-sharing pioneer had been seeking to forge a partnership, several analysts were contemplating the move as a Japanese investment conglomerate, SoftBank Group Corp.'

s attempt to integrate its South American businesses. More importantly, the Japanese investment conglomerate, SoftBank, an influential stakeholder in Uber, had purchased about 15 per cent stakes of Banco Inter SA this year.

Meanwhile, adding that the deal on financial services could be worth billions, the source with knowledge regarding the issue had been quoted saying late on Sunday (October 13rd) on condition of anonymity that the planned partnership between Banco Inter and Uber could target more than 3 million clients of Banco Inter and thousands of Uber drivers offering ride-hailing services in Brazil, nonetheless, the source had declined to comment on the financial terms of the deal.