Argentine fintech Cocos has received regulatory approval from the Central Bank of the Argentine Republic (BCRA) to complete its acquisition of Banco Voii. This landmark transaction, reportedly valued at USD 20 million in cash, marks a pivotal moment for the company founded by Nicolás Mindlin and Ariel Sbdar. The acquisition provides Cocos with a coveted banking license, setting the stage for a significant expansion of its financial services portfolio and solidifying its competitive position.
A Strategic Leap into Banking
The acquisition is a cornerstone of Cocos's strategy to evolve from an investment-centric platform into a comprehensive financial institution. With the banking license, the company plans to progressively introduce a suite of new products for both individuals and businesses, a significant step beyond its current capital markets license. These offerings will include traditional bank accounts, access to the official dollar exchange rate, advanced savings tools, integrated payment solutions, and various financing alternatives.
The Path to Approval and Integration
First announced in August 2025, the deal has now entered its final phase following the crucial approval from the central bank. The formal closing and transfer of shares are scheduled to be completed by the end of this month, according to the existing purchase agreement. This regulatory green light represents one of the most significant milestones for Cocos since its inception in 2021, enabling a central component of its long-term expansion plan.
Cocos has emphasized that the integration of Banco Voii will be a gradual and carefully managed process designed to preserve its platform's acclaimed user experience. The company will focus on a seamless transition while systematically expanding its operational capabilities to enter a new stage of corporate growth. This integration will be backed by substantial investments in technology, new product development, and financial education programs aimed at empowering its user base.
Market Impact and Future Ambitions
This strategic move positions Cocos to compete more directly with established fintech players like Ualá and Naranja X, which already possess banking licenses. Nicolás Mindlin, President and co-founder of Cocos, stated that "the approval is a key step to build a more competitive and innovative financial system." He added that it allows the company to expand its reach and contribute to market growth by delivering efficient solutions.
Since its founding, Cocos has demonstrated impressive growth, now serving 2 million individual clients and over 2,300 companies while managing more than USD 2 billion in assets. This acquisition is expected to fuel further growth, with the company projecting it will surpass USD 100 million in annual revenue this year. Co-founder Ariel Sbdar noted that Cocos was created to challenge a financial system that often excluded people, a mission this purchase directly supports.
The acquisition of Banco Voii by Cocos is a transformative event for the Argentine fintech sector, signaling a new era of heightened competition and innovation. By securing a banking license, Cocos is not only expanding its own service offerings but also challenging the traditional financial landscape in the country. This development promises to provide consumers and businesses with more integrated and accessible financial solutions, reinforcing the company's role as a key player in Argentina's digital economy.