StoneCo is a Brazil-based payment processing company that's helping to facilitate the growth of digital and card-based payments in Central and South America.Approximately 85% of transactions in Brazil are still made in cash.
E-commerce accounted for only 5% of brazil retail spending.
Stonco is similar to Square, but in Brazil.
Revenue is growing 42% year over year.
Stoneco added 50,000 New customers this quarter to a total of 531,000
The company is profitable and though valuation is high at 74 times expected earnings, you're never going to get a company like this on the cheap.
Buffet is an investor.
Taking advantage of the Covid pullback and taking a stake.