Industry — XP

Latin America Roundup: XP’s chart-topping IPO, Wildlife becomes a unicorn, SoftBank backs Konfio December has been a strong month for Brazilian startups, bringing a big IPO and a new unicorn for local companies. Tech-driven investment firm XP Investimentos went public on the U.S. Stock Exchange in mid-December, raising $1.81 billion in the fourth-largest IPO of 2019. XP’s stock price jumped 30% on its first day of trading, from $27 per share to $34.50. XP was founded in 2001 to provide brokerage training classes to Brazilians to help them invest in the international stock market. Today, it is a full-service brokerage firm, providing fund management...