Goldman-Backed Fintech Goes on Hiring Spree to Face Big Banks
- Brazil’s Iugu gets help from Wall Street to lure new talent
- Goldman’s investment is first of its kind in Latin America
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A company created in a garage 4,500 miles from Wall Street has become Goldman Sachs Group Inc.’s latest bet to shake up Brazil’s financial system.
Iugu Servicos na Internet SA, a payments fintech that provides billing services, is getting help from the U.S. powerhouse in luring new talent to expand into banking, founder Patrick Negri said in an interview. Goldman’s merchant-banking division led an investment round of 120 million reais ($22 million) in the Sao Paulo-based firm last month.