The Pulse
Itaú Signs R$2.925 Billion Deal for NeoSpace
Itaú Unibanco agreed to buy all shares of Brazilian AI startup NeoSpace for R$2.925 billion, pending regulatory approvals. The bank says NeoSpace’s team and autonomous management will remain in place under the agreement.
AI.info Team · Written with AI · fact-checked ·
Itaú Unibanco has agreed to take full ownership of NeoSpace, the Brazilian AI startup whose models it has used for nearly two years, while promising that the company will keep its own management and operations. The R$2.925 billion share-purchase agreement, announced on October 26, 2026, still needs approval from Brazil’s antitrust authority, CADE, and the Central Bank.
The deal turns a working partnership into a proposed acquisition, but Itaú’s filing presents continuity as part of the arrangement. “NeoSpace’s management and business operations will remain autonomous from the Company, and its current team will be retained,” the bank said in its Form 6-K filing. The notice does not spell out how that autonomy will work in practice after closing.
From a 15% stake to full ownership
Itaú already held a minority stake in NeoSpace. In January 2025, the bank announced it had acquired 15% of the startup in an $18 million funding round it led, contributing $15 million. The two companies also agreed to work together on models and products for Itaú’s digital services, according to the bank’s announcement at the time.
The new agreement covers all shares issued by NeoSpace A.I. Technologies Ltda. Itaú says the startup has been developing models trained on the bank’s proprietary data, supporting generative AI applications for the bank’s businesses and customers. The filing names credit, customer relationship management and fraud prevention among areas where the work has already produced results.
Models for credit, fraud and ia.i
Itaú describes NeoSpace as a Brazilian AI startup that develops foundational models trained on large datasets. It says combining NeoSpace’s capabilities with the bank’s data, expertise and scale could support more specialized models across its products and services. The bank also connects the acquisition to ia.i, its generative AI assistant, and its aim of tailoring customer interactions and financial services. The companies’ work has included generative AI applications for credit, financial management, customer relationships and fraud prevention. Itaú says the technology could also be used to personalize services, financial guidance and credit offers.
NeoSpace CEO Bruno Pierobon said:
“Queremos contribuir para uma nova geração de inteligência artificial especializada, capaz de transformar a experiência financeira de milhões de pessoas”
UOL reported that Pierobon will continue as CEO and that the agreement provides for NeoSpace’s team and research and development activities to be maintained. The bank’s filing separately says the current team will be retained and that management and business operations will remain autonomous.
Regulatory review comes before closing
The stated price is R$2.925 billion. Itaú plans to pay one installment at closing and defer the remaining installments over five years, subject to conditions; its filing does not state the size of the closing payment. The agreement remains contingent on prior approval by CADE and the Central Bank, as well as other customary conditions.
The announcement describes an agreed purchase, not a completed transfer. Until regulators approve the deal and its conditions are met, NeoSpace remains outside Itaú’s full ownership. If the transaction closes, the bank says the startup’s existing team and operating autonomy will continue.