Cocos, the Argentine fintech founded in 2021 by Ariel Sbdar and Nicolás Mindlin, received the go-ahead from the Central Bank to move forward with the purchase of Banco Voii. The approval places the company one step away from obtaining its own banking license and marking a before and after in its history since it was born with a single capital markets license.
According to market sources, the transaction would have been closed for US$20 million in cash. The formal closing and share transfer are scheduled for before the end of June, in accordance with the current purchase and sale contract.
What changes with the banking license?
The incorporation of Banco Voii will allow Cocos to expand its ecosystem of services with bank accounts, access to the official dollar, savings tools, payment methods and financing options. The integration will be gradual and will not involve immediate changes for users, with a focus on maintaining the platform experience while expanding operational capabilities.
“Approval is a key step to building a more competitive and innovative financial system. It allows us to expand our reach and continue bringing simple and efficient solutions to more people and companies,” said Mindlin, president and co-founder of the company.
A fintech that grew without external investors
Cocos was born with a disruptive proposal: investing without minimum amounts or commissions. Its 100% digital model, without physical branches, attracted thousands of users and by 2024 it already exceeded half a million accounts. All this growth was financed with its own profits, without rounds of external capital, which allowed its founders to maintain full control of the business.
With the closing of this operation, Cocos aims to consolidate itself as one of the largest-scale digital financial platforms in Argentina, with a goal of exceeding US$100 million in annual revenue by the end of 2026. “We grew up in a financial system that always left you out. Cocos was born to break with that, and this purchase is part of that same story,” said Ariel Sbdar, CEO and co-founder of the company.
