Rico.com.vc
“Can XP Inc. keep the mass-retail investor inside its ecosystem by bolting a full digital-banking layer (Banco XP) onto a zero-brokerage investment app?”
Founded2011
HQSão Paulo, Brazil
IndustryFintech / Investment
The story
Rico was founded in 2011 as a 100%-online retail investment brokerage in Brazil and was absorbed into the XP Inc. group, now operating as a consumer-facing brand of XP Investimentos CCTVM S.A. Its embedded-finance stack is entirely intra-group: brokerage/custody run through XP Investimentos, and the Conta Digital, PIX, debit/credit card and Open Finance adhesion run through sister entity Banco XP S.A. Rico's strategic role within XP is to serve the mass-retail, self-directed investor segment while XP proper serves higher-tier and advisor-intermediated clients.
Last 12 months
—
Product timeline
2011
Rico founded as an online-only retail investment broker in Brazil.· launch
2019
Fully integrated into XP Inc. group; operates under XP Investimentos CCTVM S.A.· acquisition
2020
Launched Riconnect e-commerce/content property (Terms in effect since 22 July 2020).· launch
2021
Adhered to Brazil's Open Finance framework via Banco XP.· banking
Regulated entities
2
regulatory licences held by Rico.com.vc
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
Rico.com.vc was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
9 layers disclosed in Rico.com.vc’s embedded-finance stack
Payments / PSP
Banco XP S.A. (in-house)
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Investing
in the full report
Accounting gap: none
9 more providers across 8 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.