This article is from cointelegraph.com.br and the original article can be read here in Portuguese
Grupo Primo, owned by Brazilian youtuber and investor Thiago Nigro, Primo Rico , increased its stake in cryptocurrency businesses by acquiring equity in the cryptocurrency actionable research and analysis platform Paradigma Education. What happened in the wake of the purchase of fintech GrĂŁo, announced in March, a company that, although considered modest in terms of its 50,000 customers, has technology, risk management and authorization to list its own assets , in addition to an audience than 40 million people on social networks through an ecosystem of influencers, which includes Primo Rico – the information is from Valor and NeoFeed.
In addition to Paradigma Education and GrĂŁo, Grupo Primo, which recorded revenues of BRL 130 million in 2021 with a growth rate of around 10% per month, advanced to other finance sectors. What happened through the purchase of the professional financial education company TopInvest and Edufinance, which provides valuation consultancy services.
Regarding fintech, Primo Rico, who also has 200,000 clients in education, suggested that the digital account will become an additional service in relation to engagement with investors, aged between 25 and 44, who already have a wealth accumulated.
GrĂŁo will play a role in the reformulation of our platform as a whole, but little of what exists in fintech today will remain as a core. We will create investment products, leaving banking as secondary. We do not look at GrĂŁo with a fintech thesis that will have cashburn to acquire digital accounts and eventually investment, but effectively as a solution for investors, explained Primo Rico.
To NeoFeed, Thiago Nigro said that TopInvest belongs to a professional training segment that had not yet been covered by the group and that the company, well positioned in the market, “was exactly what we were looking for.” What, according to him, was based on a survey based on data from the Brazilian Association of Financial and Capital Markets Entities (Anbima), which revealed that the certifications for consulting in Brazil, necessary to operate in the market, were mostly issued to students who graduated from TopInvest, in percentages that varied between 52% and 60%, according to the level of certification.
But Primo Rico’s flights into crypto-businesses have been around for a long time. In March last year, for example, Thiago Nigro revealed, during a broadcast on his YouTube channel, that he was a partner and a cryptocurrency exchange, as reported by the Cointelegraph Brazil.