Ant Financial and warren buffett have invested in the Brazilian financial technology solutions provider Stoneco, the first day of listing in the United States rose 30.62%, to 31.35 US dollars, IPO pricing is 24.00 US dollars.
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Ant financial has pledged to invest $100 million in the IPO of Brazilian bank card processing company StoneCo, according to regulatory filings on Monday. Buffett’s company has also expressed interest in buying up to 14.2 million class A shares.
What are the reasons why so many big names are betting on the future of the mobile payment market in Brazil? Perhaps the potential for future market explosion.
Goldman Sachs estimates that there were about 210 financial technology companies in Brazil last year, which dominated Latin America, and the only 54 companies in the beginning of 2015 did explode.
Goldman sachs further predicted that fintech would earn about $75 billion in banking and insurance markets over the next decade.
It’s worth noting that Brazil has 110 million Internet users and a penetration rate of more than 50 percent. Brazil is also the fourth-largest smartphone market in the world after China, India and the us. Along with other factors, Brazil has become fertile ground for the development of the Internet financial ecosystem.