Stack Capital Holding Hopper Strikes Deal with Nubank – One of the Largest Digital Banks in Brazil & Latin America
TORONTO, July 27, 2023 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK) is pleased to announce that Hopper, Inc. ("Hopper"), an existing portfolio holding, has announced a partnership with Nubank / Nu Holdings Limited (NYSE:NU), one of the largest digital banks in Brazil and across Latin America.
Building on the success of similar partnerships with the likes of Capital One Financial Corporation and Uber, Hopper will power Nubank's travel portal, delivering a full range of booking options such as flights, hotels, and car rentals through the bank's mobile app, along with a suite of fintech products designed to make travel cheaper, easier and less stressful, to over 80 million Nubank customers.
"This is a great partnership for Hopper Cloud, as we'll have the opportunity to combine Hopper's global travel and ecommerce expertise with Nubank's innovative approach to digital financial services," said Dakota Smith, President & Co-Founder of Hopper. "We are seeing strong demand for these offerings from partners around the world. In fact, Hopper Cloud now comprises more than 50% of Hopper's overall business."
"This partnership with Nubank is yet another impressive accomplishment for Hopper," said Jeff Parks, CEO of Stack Capital. "Hopper Cloud continues to expand globally and is generating significant growth; we're very excited and optimistic about the future outlook for the B2B business given the strength of the offering."
To access a copy of the Hopper announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
About Hopper
Hopper is the world's fastest-growing mobile-first travel marketplace, focused on helping customers save money and travel better. The Hopper app has nearly 100 million downloads and continues to capture market share around the world. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that address everything from pricing volatility to trip disruptions. Through its B2B initiative, Hopper Cloud, the company is syndicating its travel fintech products and inventory, providing companies that aspire to sell travel a differentiated consumer experience and offering. Hopper has increased its revenue 2.5X year-over-year and sells around $6 billion in travel and travel fintech annually. To find out more about Hopper, visit Hopper.com.
About Nubank
Nubank is one of the world's largest digital financial services platforms, serving around 80 million customers across Brazil, Mexico, and Colombia. As one of the leading technology companies in the world, Nubank leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering, and human. Guided by a mission to fight complexity and empower people, Nubank is fostering the access to financial services across Latin America, connecting profit and purpose to create value for its stakeholders and have a positive impact on the communities it serves. For more information, please visit www.nubank.com.br.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bb8efb4-0efa-4cf3-b436-105cbfd9c78e
