Inter&Co is a Brazilian digital bank and financial "SuperApp" headquartered in Belo Horizonte, serving over 43 million clients through a single mobile app with no physical branches. The core product is a free digital checking account that supports PIX payments, debit/credit cards, bill payments, and FX — this account serves as the primary acquisition channel and cross-selling entry point across six additional verticals: credit, investments, insurance brokerage, an in-app e-commerce marketplace (Inter Shop), a global banking offering for Brazilians in the U.S., and a loyalty program (Inter Loop). Inter holds a full commercial banking license, which lets it take customer deposits and fund its loan book at below-market rates — in 2025, Inter's cost of funding was roughly 65% of the Brazilian interbank rate. Inter earns money primarily through net interest income on its loan portfolio (gross loans of R$52.6B at year-end 2025, skewed toward secured products like mortgages and payroll loans) and secondarily through fees across its verticals. Inter's growth strategy centers on deepening credit penetration within its existing client base, expanding fee-based verticals for diversification, and growing internationally — most notably through a newly approved state-licensed branch in Miami. Inter has outlined a medium-term target of 60 million clients, a 30% efficiency ratio, and 30% ROE, compared to 43 million clients, ~45% efficiency, and ~15% ROE at year-end 2025.