Originally founded in 1995 as Modal DTVM, an asset management firm, the company evolved into a full-fledged digital bank, Banco Modal S.A. It launched its retail digital investment platform, "modalmais," in 2015, becoming a pioneer in offering zero-brokerage fees for various investment types in Brazil. The platform provided clients with a complete financial ecosystem, including a digital checking account, access to a home broker for trading stocks and derivatives, and a wide array of investment products like fixed income, investment funds, and pension plans. In 2022, Banco Modal was acquired by XP Inc., one of Brazil's largest investment platforms, and its operations have since been merged into XP's ecosystem.

Founded in

Brazil