Originally founded as Banco Modal in 1995, the company launched its digital investment platform, modalmais, in 2015, positioning itself as the "digital bank for investors" in Brazil. It provided a comprehensive suite of services, including a digital checking account, investment options in fixed income, investment funds, and a robust "home broker" system for trading stocks, options, and other assets on the B3 exchange. In 2022, XP Inc., one of Brazil's largest investment platforms, acquired Banco Modal. Since the acquisition, the modalmais brand and platform are being fully integrated into the XP ecosystem, with customer accounts and services migrating to XP's platform.

Founded in

Brazil