StoneCo Ltd. (NASDAQ:STNE) shares are trading higher after the company said it received the Financeira License from the Brazilian Central Bank.
The license is organized as a Sociedade de Crédito, Financiamento e Investimento (SCFI), the company said in a press release.
This license will enable StoneCo, through its subsidiaries, to develop and offer a range of new products, such as time deposits, which shall enhance and diversify the company’s funding sources.
Last month, the company said it had obtained a commitment of $467.5 million in the form of a revolving securitization facility from the U.S. International Development Finance Corporation.
With a business model focused on growth and efficiency gains, the company expects for more than doubling profitability over four years, hoping to exceed an adjusted net income of R$4.3 billion ($888.80 million).
In 2027, Stone plans to exceed R$600 billion in TPV and a take rate above 2.70% in MSMB, exceed R$14 billion in client deposits and achieve a credit portfolio above R$5.5 billion.
STNE Price Action: StoneCo shares are trading higher by 3.01% to $17.12 on the last check Friday.
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