Exhibit 21.1



Subsidiaries of the Registrant



The following are the subsidiaries of the Registrant:



|    | Name                                                                     | Principal Activities                                     | Country 
|--- | ------------------------------------------------------------------------ | -------------------------------------------------------- | --------
|1.  | XP Investimentos S.A.                                                    | Holding                                                  | Brazil  
|2.  | XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. | Broker-dealer                                            | Brazil  
|3.  | XP Vida e Previdência S.A.                                               | Private pension and insurance                            | Brazil  
|4.  | Banco XP S.A.                                                            | Multipurpose bank                                        | Brazil  
|5.  | XP Controle 3 Participações S.A.                                         | Financial Holding                                        | Brazil  
|6.  | XPE Infomoney Educação Assessoria Empresarial e Participações Ltda.      | Digital Content services                                 | Brazil  
|7.  | Tecfinance Informática e Projetos de Sistemas Ltda.                      | Rendering of IT services                                 | Brazil  
|8.  | XP Corretora de Seguros Ltda.                                            | Insurance Broker                                         | Brazil  
|9.  | XP Gestão de Recursos Ltda.                                              | Asset management                                         | Brazil  
|10. | XP Finanças Assessoria Financeira Ltda.                                  | Investment consulting service                            | Brazil  
|11. | Infostocks Informações e Sistemas Ltda.                                  | Mediation of information systems                         | Brazil  
|12. | XP Advisory Gestão Recursos Ltda.                                        | Asset management                                         | Brazil  
|13. | XP Vista Asset Management Ltda.                                          | Asset management                                         | Brazil  
|14. | XP Controle 4 Participações S.A.                                         | Insurance holding                                        | Brazil  
|15. | Leadr Serviços Online Ltda.                                              | Social media                                             | Brazil  
|16. | Spiti Análise Ltda.                                                      | Research (pending regulatory approval)                   | Brazil  
|17. | Chamaleon Bravery Unipessoal LDA                                         | Investment Advisor (pending regulatory approval)         | Portugal
|18. | XP Investments UK LLP                                                    | Inter-dealer broker and Organized Trading Facility (OTF) | UK      
|19. | Sartus Capital LTD                                                       | Investment advisor                                       | UK      
|20. | XP Private (Europe) S.A.                                                 | Investment advisor                                       | UK      
|21. | XP Holding UK Ltd                                                        | International financial holding                          | UK      
|22. | XP Investments US, LLC                                                   | Broker-dealer                                            | USA     
|23. | Xperience Market Services LLC                                            | Non-operational                                          | USA     
|24. | XP Holding International LLC                                             | International financial holding                          | USA     
|25. | XP Advisory US                                                           | Investment advisor                                       | USA