Stark Bank, Backed by Jeff Bezos, Sees Profits Soar as It Eyes Expansion

The Brazilian fintech company triples payment processing volume and doubles net income, signaling strong growth and potential for further market capture.

• Stark Bank processed 155 billion reais in payments in 2023, a three-fold increase from the previous year.
• Net income for the company more than doubled to 71.5 million reais, showcasing significant profitability.
• Founder Rafael Stark emphasizes the company's focus on value creation over fundraising, maintaining a substantial stake.
• Stark Bank aims to expand its presence in Brazil, particularly in Sao Paulo, and considers an IPO around 2029.
• Despite not holding a formal banking license, Stark Bank has carved a niche in payment processing and financial services for companies.

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