Tagged: latin america

Mexico’s Salary Advance Fintech Startup Minu Secures $14M in Capital via Series A Round to Enhance Product Offering

Mexico’s salary advance startup Minu has secured $14 million in capital through a Series A funding round. Minu’s investment round was led by FinTech Collective along with contributions from VEF, XYZ Ventures, and FJ Labs. DocuSign founder Tom Gonser and Gusto CFO Mike Dinsdale took… Read More

SaaS Fintech Alchemy Expands into Latin America in Partnership with Círculo de Crédito

Alchemy, a back-end Fintech that provides SaaS banking services, has expanded into Latin America in a new partnership with the launch of decisioning services with Mexico-based Buy Now Pay Later (BNPL) lender, Círculo de Crédito, according to a note from the company. Alchemy says that… Read More

At least 93 Fintech Firms in Mexico are in Process of Acquiring Financial Technology Institute License: Report

During the past few years, the Fintech sector in Mexico has grown steadily to become one of the “most developed” in the Latin American (LatAm) region, according to a report released in January 2021 by the Comisión Nacional Bancaria y de Valores (“National Banking and… Read More

Block.one Joins IDB-Backed LACChain Alliance; Seeks to Deploy Blockchain Solutions for Latin American Pressing Public Sector

  Block.one, a U.S.-based blockchain software developer, recently announced it has joined the LACChain, a global alliance led by the Inter-American Development Bank Group (IDB Lab) to accelerate the development of an open and interoperable blockchain ecosystem in Latin America and the Caribbean. LACChain reported that… Read More

Brazilian Financial Marketplace For Receivables Monkey Scores $6 Million through Series A Investment Round

Monkey, a Brazil-based financial marketplace for receivables, has reportedly raised $6 million through its Series A funding round, which was co-led by Quona Capital and Kinda Ventures. Founded in 2016, Monkey describes itself as an “ecosystem” that aims to make the receivable discount market more… Read More

Venezuelan President Says Country will Fully Transition to a Digital Economy as Certain Banks Issue USD based Debit Cards

Banks in Venezuela are reportedly issuing debit cards for US dollar-denominated accounts, according to a report from Reuters which cited sources familiar with the matter. There’s now a group of Venezuelan banking institutions that have been providing debit cards to customers who maintain accounts in… Read More

Cambridge Centre for Alternative Finance Partners Inter-American Development Bank, 40+ Fintechs in LatAm to Examine SME Access to Finance

The Cambridge Centre for Alternative Finance (CCAF) has revealed that their organization and the University of Cambridge Judge Business School are teaming up with the Inter-American Development Bank, which works to improve lives of people in the Latin America (LatAm) and the Caribbean region. We… Read More

Digital Banking: Neobanks like Nubank, Neon, and Uala are Now Key Players in South and Latin America Fintech Sector

The digital banking sector in South America has been growing steadily, with now over 30 neobanks in the region. Digital banking platforms currently serve more than 50 million consumers out of the region’s (approximately) 430 million residents, according to the latest data from Dutch Fintech… Read More

Latin American Insurtech Jooycar Announces Expansion into the U.S.

Jooycar, a Chilean insurtech that is seeking to disrupt the auto insurance and telematics space in Latin America, announced on Tuesday it has officially expanded its service to the U.S. with the launch of a GPS vehicle tracking solution. This launch comes less than six… Read More

Remittance Payments Sent by US-based Mexican Workers to Relatives back Home have Reached Record Levels, following COVID Outbreak

Mexican workers now based in the United States have reportedly been sending record amounts of funds to friends or family members back home since 2020, which may suggest that the American economy has been fairly resilient despite the challenges created by the COVID-19 outbreak. As… Read More

Fintech as a Service Providers in Mexico Likely to Face Serious Challenges due to New Regulations, Analysts Claim

A new regulatory policy has reportedly been introduced by Mexico’s financial industry regulator CNBV and it’s being referred to as “a death sentence” for firms that are providing Fintech-as-a-Service (FaaS) businesses, according to analysts. Carlos David Valderrama Narvaéz and Diego Montes Serralde from Legal Paradox,… Read More

Brazilian Lending Firm Creditas Secures $255 Million in Capital as Fintechs in Latin America Continue to Acquire Large Investments

Brazilian lending firm Creditas has secured $255 million in capital as Fintech startups across Latin and South America continue to attract large investments. Creditas’ credit portfolio has reportedly surpassed 1 billion reals (appr. $196.66 million) and this latest funding round will value the firm at… Read More

Omar Arab: EVP of Corporate Business at VeriTran Explains how Low-Code Platforms Help Deploy Seamless Fintech Applications

We recently connected with Omar Arab, EVP of Corporate Business at VeriTran, a leading low-code platform provider for enterprises. Arab talked about how low-code solutions make it easier for everyone, including non-programmers, to create applications for a wide variety of use cases – including banking… Read More

Global Money Transfer Service Azimo and Payments Fintech dLocal to Facilitate Remittances from Europe, Australia to Colombia

Global money transfer service Azimo has teamed up with payments focused Fintech firm dLocal in order to allow migrant workers based in Europe and Australia to send funds to almost any bank in Colombia, which reportedly includes Banco de Bogota, Banco de Occidente, and Davivienda…. Read More

P2P Bitcoin Exchange LocalBitcoins Reports that Russia, Venezuela, Colombia are Among its Main Markets with Most BTC Trading Activity

LocalBitcoins, a global peer to peer (P2P) Bitcoin exchange, notes that its platform allows users to invest in BTC which is notably one of the best-performing assets of 2020. The LocalBitcoins team confirms in a blog post: “According to our data, our main markets are… Read More

Why B2B Fintechs are Descending on Latin America

Although the COVID-19 pandemic is accelerating technology adoption across all industries in Latin America, the financial services sector is experiencing some of the fastest progress. The Fintech sector has been particularly resilient during the crisis over the past year, and its growth may even match… Read More

Brazilian Insurtech Pier Raises $14.5 Million Through Series A Funding Round Led By Monashees

Pier, a Brazil-based full-stack insurtech, announced earlier this week it secured $14.5 million through its Series A funding round, which was led by Monashees with participation from Canary, Mercado Livre, and BTG Pactual. Founded in 2018, Pier states it adopts artificial intelligence to bring a… Read More

Visa Announces Completion of YellowPepper Acquisition

  Visa (NYSE:V) announced on Friday it has completed the acquisition of YellowPepper, a payments tech company that supports financial institutions and startups in Latin America and the Caribbean. Visa reported that the acquisition is considered the first of its kind for financial giant in… Read More

Spain and Latin America based Insurtech Bdeo Secures €5 Million via Series A Round

Bdeo, an established Insurtech firm with offices in Spain and Latin America, has finalized a Series A investment round valued at €5 million. Bdeo’s latest round was led by BlackFin, a European investment company that’s focused on the financial services sector. Existing investors K Fund… Read More

Latin America Needs Strong Fintech Regulatory Framework, Institutional Support before It Can Effectively Leverage New Tech: Report

Carlos Cantú and Bárbara Ulloa have noted in a new paper, which covers Fintech developments in Latin America, that innovative financial technology is transforming financial services in the region. The paper, titled The Dawn of Fintech in Latin America: Landscape, Prospects and Challenges, states that… Read More

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