Tagged: brazil

June 25, 2020 @ 8:40 am By Omar Faridi  |  

Switzerland-based Credit Suisse, a multinational wealth manager, investment bank and financial services firm, has made a deal with modalmais, a Brazilian digital bank. According to the terms of the agreement, the Swiss bank will purchase preferred shares that will be “equivalent to up to 35%”… Read More

June 24, 2020 @ 7:44 am By Omar Faridi  |  

Brazil’s reserve bank has reportedly instructed Mastercard and Visa to suspend processing transactions on behalf of WhatsApp. As reported on June 15, 2020, the Facebook-owned WhatsApp messaging platform began facilitating payments in Brazil. However, the Central Bank of Brazil (BC) has now taken action against… Read More

June 21, 2020 @ 3:45 pm By Omar Faridi  |  

Andréa Toucinho, the Director of Studies, Prospective and Training of Partelya Consulting and Country Ambassador for France of European Women Payments Network (EWPN), notes that it’s necessary to develop a European vision or roadmap for adopting Open Banking and Open Finance platforms. She suggests that… Read More

June 17, 2020 @ 3:11 pm By Samantha Hurst  |  

BizCapital, a Brazil-based SME online lending platform, announced on Wednesday it secured $12 million through its Series B funding round, which was led by German development finance institution DEG, a subsidiary of  KfW Group, Germany’s promotional bank. Along with DEG, MELI Fund, the Corporate Venture Capital… Read More

June 15, 2020 @ 12:06 pm By JD Alois  |  

Facebook’s WhatsApp messaging platform is now facilitating payments in Brazil, according to a post by Facebook founder Mark Zuckerberg. WhatsApp was acquired by Facebook (NASDAQ:FB) in 2014 for approximately $19.3 billion. WhatsApp is the world’s most popular messaging application with over 2 billion users worldwide…. Read More

June 15, 2020 @ 10:53 am By Samantha Hurst  |  

WhatsApp Payments, an in-chat payment feature that lets customers perform transfers through the messaging app to anyone in their contact list, announced on Monday it is bringing digital payments to WhatsApp users in Brazil. “The over 10 million small and micro-businesses are the heartbeat of Brazil’s… Read More

June 11, 2020 @ 9:02 pm By Omar Faridi  |  

XP Investimentos XP Inc. (Nasdaq: XP), a company offering fixed income, equities, and private pension products, says it’s reevaluating its business plans, following the introduction of new Open Banking guidelines in Brazil. XP will reportedly be acquiring a majority stake in Fintech firm Fliper, an… Read More

June 11, 2020 @ 3:22 pm By Nathan Lustig  |  

Increasing financial inclusion is a high-priority goal of many countries because it has a widespread positive impact. Studies show that expanding financial inclusion enables seven of the 17 Sustainable Development Goals, with more financial stability leading to improved social conditions, community development, and economic growth…. Read More

June 9, 2020 @ 9:32 am By Omar Faridi  |  

Digibee, a “no-code” integration platform, has reportedly secured $5 million in capital from GAA Investments and Laércio Albuquerque of Cisco Brazil. The Brazilian company says it will use the funds to enhance its technology stack and further expand its operations into the US. Notably, no-code… Read More

June 1, 2020 @ 9:03 am By Omar Faridi  |  

Although Latin America (LatAm) may have introduced Fintech services after they had been established in more advanced economies like the US and in Europe, the region is growing fast because of the launch of several financial technology initiatives. While it may be difficult to accurately… Read More

May 31, 2020 @ 11:27 pm By Omar Faridi  |  

  Barcelona’s Fintech firm Belvo has secured $10 million in capital, in order to recruit between 40-50 new project developers. Belvo is also planning to establish business offices in Sao Paulo, Brazil. Y Combinator-backed Belvo maintains its second major hub and primary market in Mexico… Read More

May 29, 2020 @ 12:03 pm By Samantha Hurst  |  

Trov, a U.S.-based insurtech company, announced earlier this week it has formed a new partnership with Seguros Sura Brazil, a Latin American P&C insurer, to bring on-demand insurance to Brazil.  Trov stated it has been working with Seguros Sura Brazil for the past several months… Read More

May 23, 2020 @ 1:39 pm By Omar Faridi  |  

Via Varejo, the largest retail company in Brazil, has confirmed that it will be acquiring AirFox, a US-based Fintech firm. The amount involved in the transaction has not been disclosed. AirFox will maintain its Boston head offices and will also operate as a Fintech “innovation… Read More

May 13, 2020 @ 9:42 pm By Omar Faridi  |  

Brazil-based online wallet provider PicPay recently revealed that it has surpassed 20 million clients as of May 2020. As reported by Reuters, the company said that it achieved the milestone sooner than it had initially expected. PicPay was aiming to hit the goal by December… Read More

May 11, 2020 @ 7:59 am By Omar Faridi  |  

A potential $5 million online heist in Brazil had attempted to target Spanish financial giant, Banco Santander, however, it was reportedly stopped after the money was seized from local over-the-counter (OTC) digital currency exchanges. The alleged thieves had tried to convert the stolen money into… Read More

April 18, 2020 @ 8:23 pm By Omar Faridi  |  

Digital banks or neobanks have now been around for several years. There are many challenger banks that aim to compete with and provide better financial services than traditional banks and institutions. Conducting transactions online has become more popular due to the deadly Coronavirus (COVID-19) outbreak…. Read More

April 4, 2020 @ 1:41 pm By Omar Faridi  |  

Four of Brazil’s financial regulatory agencies are working cooperatively to create a blockchain or distributed ledger technology (DLT)-enabled data-sharing platform, which will conduct background checks on the nation’s political representatives and private corporations. The platform, called PIER, was reportedly created by the country’s reserve bank,… Read More

March 9, 2020 @ 1:37 pm By Samantha Hurst  |  

Rapyd, a global B2B Fintech as a Service provider, announced on Monday it has partnered with major Brazilian payment providers, including Dock, a banking as a service technology company, Banco Rendimento, and other local partners to support cash, bank transfers, e-wallets, bill payments, debit and… Read More

March 5, 2020 @ 1:16 pm By Omar Faridi  |  

Brazil-based neobank Nubank is reportedly planning to introduce an annual commission-free Nu credit card to customers in Mexico. There’s already a waitlist of 30,000 potential users, according to TechCrunch.  Mexico was notably the first major market that Nubank expanded to outside of its headquarters in… Read More

February 21, 2020 @ 11:10 pm By Samantha Hurst  |  

CapTable, a crowdfunding platform registered with the Brazilian Securities and Exchange Commission (CVM), recently reported that equity crowdfunding in Brazil has jumped from BRL 8.4 million in contributions in 2016 to BRL 79 million ($18.6 million) in 2019. According to Latin America Business Stories (LABS),… Read More