Cocos Capital Acquires Banco Voii: A Strategic Leap into Regulated Banking
Cocos Capital acquires Banco Voii for USD 20M, entering Argentina’s regulated banking system with a hybrid model focused on digital finance and SME lending
In a landmark move for Argentina’s fintech sector, Cocos Capital has announced the acquisition of 100% of Banco Voii in a USD 20 million all-cash transaction. The agreement, already filed with the National Securities Commission (CNV), is subject to final approval by the Central Bank of Argentina (BCRA).
Founded in 2021 by Ariel Sbdar and Nicolás Mindlin, Cocos Capital now gains access to a full banking license, unlocking the ability to offer regulated financial products such as interest-bearing accounts, time deposits, savings accounts, and credit lines. All services will be delivered through a secure, scalable, and fully digital platform.
Structural Impact with Strategic Intent
Banco Voii, formerly Compañía Financiera Argentina, ranks 60th out of 74 institutions by assets, according to BCRA data. With just one branch, 353 active accounts, and a shareholder base concentrated in Nexfin S.A., Arroyo Ubajay S.A., and Walter Grenón, the bank’s streamlined structure facilitated the acquisition.
“This purchase confirms our strategic direction and the strength of our business model. We grow without external investors or capital increases, reinvesting our earnings and betting on the country,” said Nicolás Mindlin.
From Fintech to Hybrid Banking
Cocos Capital has surpassed one million users and currently manages over USD 800 million in mutual funds. Its platform already integrates Pix for cross-border payments in Brazil and offers a Mastercard that enables tax-free dollar transactions, making it a preferred solution for Argentine travelers.
“We grew up in a system that left people out. Cocos was born to change that. This acquisition is part of that story,” said Ariel Sbdar, CEO and co-founder.
Business Model and Future Outlook
This transaction marks a pivotal moment in the convergence of fintech innovation and traditional banking infrastructure. With its new license, Cocos Capital will be able to accept deposits, issue credit, and operate with greater regulatory autonomy. The hybrid model aims to combine technological efficiency with institutional credibility, mirroring moves by other players such as Ualá.
Initially, the Banco Voii brand will remain in place, though gradual integration into the Cocos ecosystem is anticipated. Strategic priorities include SME lending, digital financial services, and partnerships with marketplaces.
“This step gives us more power to do what we do best: build simple, useful products that truly change how people interact with their money,” added Sbdar.
