<SEC-DOCUMENT>0000899140-25-000335.txt : 20250214
<SEC-HEADER>0000899140-25-000335.hdr.sgml : 20250214
<ACCEPTANCE-DATETIME>20250214184933
ACCESSION NUMBER:		0000899140-25-000335
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250214
DATE AS OF CHANGE:		20250214

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Inter & Co, Inc.
		CENTRAL INDEX KEY:			0001864163
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93964
		FILM NUMBER:		25631825

	BUSINESS ADDRESS:	
		STREET 1:		AV. BARBACENA, 1219
		STREET 2:		22ND FLOOR
		CITY:			BELO HORIZONTE
		STATE:			D5
		ZIP:			30 190-131
		BUSINESS PHONE:		55 31 2138 7978

	MAIL ADDRESS:	
		STREET 1:		AV. BARBACENA, 1219
		STREET 2:		22ND FLOOR
		CITY:			BELO HORIZONTE
		STATE:			D5
		ZIP:			30 190-131

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Inter Platform, Inc.
		DATE OF NAME CHANGE:	20210525

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.
		CENTRAL INDEX KEY:			0001577806
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		AV. BORGES DE MEDEIROS 633/704 - LEBLON
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			22430-041
		BUSINESS PHONE:		5521-3622-8080

	MAIL ADDRESS:	
		STREET 1:		AV. BORGES DE MEDEIROS 633/704 - LEBLON
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			22430-041
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0000899140-23-000988</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001577806</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>3</amendmentNo>
<securitiesClassTitle>Class A Common Shares</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001864163</issuerCik>
<issuerName>Inter &amp; Co, Inc.</issuerName>
<issuerCusip>G4R20B107</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>Avenida Barbacena, No. 1.219</com:street1>
<com:street2>22nd floor</com:street2>
<com:city>Belo Horizonte</com:city>
<com:stateOrCountry>D5</com:stateOrCountry>
<com:zipCode>30 190-131</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.</reportingPersonName>
<citizenshipOrOrganization>D5</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>26179116</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>29946672</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>29946672</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>9.28</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>SQUADRA INVESTIMENTOS</reportingPersonName>
<citizenshipOrOrganization>D5</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>26179116</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>29946672</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>29946672</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>9.28</classPercent>
<typeOfReportingPerson>FI</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>GUILHERME MEXIAS ACHE</reportingPersonName>
<citizenshipOrOrganization>D5</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>26179116</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>29946672</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>29946672</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>9.28</classPercent>
<typeOfReportingPerson>IN</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>Inter &amp; Co, Inc.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>Avenida Barbacena, No. 1.219, 22nd floor, Belo Horizonte, Brazil, 30 190-131</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA (the "US Investment Manager");&#13;
SQUADRA INVESTIMENTOS - GESTAO DE RECURSOS LTDA (the "Brazil Investment Manager"); &#13;
Mr. GUILHERME MEXIAS ACHE ("Mr. Ache" and collectively, the "Reporting Persons")</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The address of the business office of each of the Reporting Persons is &#13;
Av Borges de Medeiros 633/704&#13;
Leblon Rio de Janeiro RJ 22430-041 Brazil</principalBusinessOfficeOrResidenceAddress>
<citizenship>Brazil</citizenship>
</item2>
<item3>
<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>FI</typeOfPersonFiling>
<typeOfPersonFiling>IA</typeOfPersonFiling>
<typeOfPersonFiling>HC</typeOfPersonFiling>
<otherTypeOfPersonFiling>Item 3(i): Investment adviser registered with the Securities and Exchange Commission of Brazil</otherTypeOfPersonFiling>
</item3>
<item4>
<amountBeneficiallyOwned>The percentages used herein and in the rest of this Schedule 13G/A are calculated based upon the number shares of Common Stock issued and outstanding as of February 4, 2025 as reflected on the Issuer's publicly accessible website and reflect the ownership of the Reporting Persons as of February 4, 2025.&#13;
&#13;
Reporting Persons do not directly own any Common Stock.  Pursuant to investment agreements with the certain investment funds and managed accounts (collectively, the "Funds"), the US Investment Manager and the Brazil Investment Manager (together the "Investment Managers") maintain voting and dispositive power with respect to the securities held by the Funds.  Mr. Ache controls the Investment Managers.  Under the rules promulgated by the Securities and Exchange Commission, the Reporting Persons may be deemed to beneficially own the Common Stock.  Each Reporting Person hereby disclaims beneficial ownership of the securities covered by this statement.&#13;
&#13;
The information required by Item 4(a) is set forth in Rows 5-11 of the cover page for each Reporting Person hereto.</amountBeneficiallyOwned>
<classPercent>The information required by Item 4(b) is set forth in Rows 5-11 of the cover page for each Reporting Person hereto.</classPercent>
<numberOfSharesPersonHas/>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>The business of Investment Managers is the rendering of financial services and as such they provides discretionary investment advisory services to each of the Funds. In such capacity, the Investment Managers have the power to make decisions regarding the voting and disposition of the Common Stock. Under the rules promulgated by the Securities and Exchange Commission, the Investment Managers and their control person Mr. Ache may be considered beneficial owners of securities acquired by the Funds.  The Reporting Persons have the right to receive the proceeds from the sale of, or the power to direct the receipt of distributions from, the Common Stock reported in this Schedule 13G/A.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Each of the Reporting Persons hereby makes the following certification: &#13;
By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Section 240.14a-11. is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.</reportingPersonName>
<signatureDetails>
<signature>/s/ LUIS FELIPE STERN</signature>
<title>Chief Operating Officer</title>
<date>02/04/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>SQUADRA INVESTIMENTOS</reportingPersonName>
<signatureDetails>
<signature>/s/ LUIS FELIPE STERN</signature>
<title>Chief Operating Officer</title>
<date>02/04/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>GUILHERME MEXIAS ACHE</reportingPersonName>
<signatureDetails>
<signature>/s/ GUILHERME MEXIAS ACHE</signature>
<title>GUILHERME MEXIAS ACHE</title>
<date>02/04/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
