Intercorp Financial Services Inc. Acquires InFinance XP S.A.
Intercorp Financial Services Inc. (IFS) and InRetail PerΓΊ Corp. (InRetail) announced the acquisition of InFinance XP S.A. (formerly Financiera Oh!) for $130 million through the purchase of IXP Holding Corp. from IFH Retail Corp. This strategic partnership is structured as a joint venture between InRetail and IFS. InFinance XP serves approximately three million customers, with S/ 1.7 billion in total loans and S/ 1.5 billion in total deposits, and has recently launched the SIP app for integrated financial and payment products. The acquisition leverages IFS's established financial services platform and InRetail's extensive retail network in Peru. This integration aims to create a comprehensive ecosystem for consumer financing and payments, enhancing value for consumers and providing a scalable platform for digital financial solutions.