Tagged: mexico

Decentralized Finance Ecosystem Supporter AVA Labs and KPMG Continue to Address Fintech Challenges and Opportunities in Mexico

Mexico has been able to strategically position itself as a leading financial technology hub by serving as a gateway for the booming Latin American Fintech sector. The Mexican government enacted the nation’s progressive and comprehensive Fintech Law back in March 2018. It has reportedly been… Read More

Mexican Fintech Zenda.la Introduces New Insurance Package for Millennials, Gen Z Freelancers, Acquires Investment from Angel Ventures, Others

Companies from the insurance sector continue to develop products and services for tech-savvy younger clients including millennials and Generation Z consumers. Mexican Fintech firm Zenda.la has introduced an insurance product with pricing that adjusts to each individual consumers’ specific requirements and financial status. Zenda recently… Read More

The Fintechs Promoting Financial Education For All in Latin America

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

Several Mexican Fintech Firms have Achieved Growth Rates they Expected in Two to Five Years due to COVID-19, Industry Participant Reveals

Carlos Valderrama, managing partner at law firm Legal Paradox, reveals that there are about 640 active Fintech platforms based in Mexico. The trillion-dollar economy has introduced regulations that aim to support its booming Fintech sector. The nation’s authorities are currently reviewing applications from several financial… Read More

Fintech Adoption in Latin and South America Is on the Rise, with Mexico and Brazil Leading the Charge

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

Barcelona’s Fintech Belvo Secures $10 Million in Capital to Recruit 40 New Developers, Will Launch in Sao Paulo, Brazil

  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

Digital Asset XRP Liquidty Sets All-Time High Just Weeks After New Lawsuit Filed Against Fintech Ripple

XRP liquidity via the Mexican and Australian corridor recently reached another all-time high. The digital asset’s European corridor liquidity has also increased significantly. San Francisco-based Fintech firm Ripple’s on-demand-liquidity (ODL) solution has experienced an considerable increase in overall usage and adoption this year. The company’s… Read More

South American Fintech Koibanx Considers Expanding Operations into Mexico

Argentina-based Fintech firm Koibanx has maintained operations in the Latin American region, well before the COVID-19 outbreak led to major changes in the daily lives of the area’s residents. Despite the economic challenges associated with expanding a business during these difficult times, Koibanx is planning… Read More

Galileo Financial Technologies Scores Mastercard Certification in Mexico & Forms Partnership With Klar Following SoFi Acquisition News

U.S. fintech Galileo Financial Technologies announced on Thursday it has received its Mastercard certification in Mexico and has formed a new partnership with Mexican fintech Klar. The announcements come just weeks after SoFi acquired Galileo for $1.2 billion in both cash and stock. Galileo also… Read More

Mexican Fintech Credijusto Secures $100 Million in Debt from the Credit Suisse Group to Help Finance Local SMEs

Credijusto, a Mexican Fintech firm, has revealed that it has secured $100 million in debt from Credit Suisse Group, a Switzerland-based multinational wealth manager, investment bank and financial services company. Credijusto says that it acquired the capital in order to issue more loans to SMEs… Read More

Wirecard Continues Expansion into Mexico Through New Collaboration With Banca Afime

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Tuesday it is expanding its presence in Mexico by forming a new partnership with Mexican financial institution Banca Afirme. The duo has notably worked together to implement and market payout products, branded as Afirme… Read More

Mexico-based Fintech Clip Introduces New Contactless Payment System, “Clip Total”

Mexico-based Fintech firm Clip is introducing another payment method, called “Clip Total.” Adolfo Babatz, the company’s co-founder, said that the new payment solution is like having a “point of sale [system] in the palm of your hand.” During a recent presentation, Clip’s management shared an… Read More

World’s Highest-Valued Challenger Nubank to Introduce Annual Commission-Free Nu Credit Card in Mexico

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

Santander Set to Acquire Merchant Service Company Elavon México

Santander Group announced on Monday it has entered into an agreement to acquire merchant payment solutions company Elavon México. Santander reported that it will be acquiring Elavon México for a total of 1,600 million (approximately USD 86 million and EUR 79 million) and Elavon México… Read More

Digital Asset Exchange Bitso Aims to Capture 20% of Remittance Market from US to Mexico

Digital asset exchange Bitso managed to capture a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year. Established in 2014, Bitso experienced significant… Read More

U.S. Fintech Galileo Financial Announces Mexico Expansion

Galileo Financial Technologies, a U.S.-based fintech, announced on Thursday it has expanded into Mexico by opening a new office in Mexico City. The expansion news comes just a few months after Galileo secured $77 million through its Series A funding round, which was led by… Read More

Startupbootcamp Fintech Mexico City: 20 Fintechs Present, 4 Led by Women Entrepreneurs

The Startupbootcamp FinTech acceleration program in Mexico City, operated by Finnovista, has shared some info on its 3rd demo day which took place last week. According to Finnovista, over 200 key players within the financial industry and entrepreneurship community in Mexico City joined 10 Fintech… Read More

Mexico Digital Banking Startup Stori Raises $10 Million Through Series A2 Financing Round Co-Led By Bertelsmann Investment & Source Code Capital

Stori, a Mexico-based digital banking startup, announced on Tuesday it secured $10 million through its Series A2 funding round, which was co-led by Bertelsmann Investments (BI) and Source Code Capital, with participation from existing investor Vision Plus Capital.  Stori has so far raised more than… Read More

Bill and Melinda Gates Foundation-backed Catalyst Fund Launches $15 Million Commitment from J.P. Morgan, UK Aid

Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More

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