NEW YORK, Oct. 25, 2018 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE), a leading provider of financial technology solutions in Brazil, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Based in São Paulo, Brazil, StoneCo empowers merchants and integrated partners to conduct electronic commerce seamlessly across in-store, online, and mobile channels. StoneCo’s unique client-centric approach, called the Stone Model, is concentrated on delighting clients and ensuring high quality customer support, rather than simply providing a solution or service. This model combines the company’s advanced, end-to-end, cloud-based technology platform with a differentiated hyper-local and integrated distribution approach, as well as white-glove, on-demand customer service. StoneCo is also the largest independent merchant acquirer in Brazil, and became the first non-bank entity to obtain authorization from the Central Bank of Brazil to operate as a Merchant Acquirer Payments Institution.
“Today’s public listing is an exciting time for Stone as we enter the next chapter of our company’s growth,” said Thiago Piau, CEO of StoneCo. “Our success is directly related to the trust and support from our customers, who are, and always will be, our top priority. Ultimately, we can only be successful if they are. So, while we’re thrilled with today’s IPO, we’re even more excited to be able to provide best-in-class technology and service for our customers who are the heartbeat of Brazil’s growing economy.”
“StoneCo’s model has created a company and culture that has enabled it to become a progressive leader in the financial-technology solutions space,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “Nasdaq is excited to welcome StoneCo to join our family of innovative companies from around the world.”
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