Tagged: mexico

QED Backs Mexican BNPL Aplazo as Part of $70 Million Series B

Top Fintech VC firm QED Investors has participated in a funding round of Aplazo, a Mexico-based buy now pay later (BNPL) firm. According to a release, Aplazo has closed on an additional $70 million in funding inclusive of a $45 million Series B round. QED… Read More

Santander to Launch Openbank in the US and Mexico

Santander (NYSE: SAN) is announcing the launch of a new national, digital offering in the United States under the Openbank brand in the second half of 2024. Openbank will also be launched in Mexico in the same timeframe. Openbank operates with “a technological platform designed… Read More

Payments Fintech MeaWallet Teams Up with Mexico’s Fondeadora

MeaWallet, a digital payments enabler specializing in card tokenization, announces its partnership with Fondeadora, Mexico’s financial service provider. Fondeadora, renowned as the digital alternative “to traditional Mexican banking, is on a mission to empower individuals by returning control over their finances.” Being among the first… Read More

Microlending Platform Baubap Secures $120m to Expand Services in Mexico

Baubap, a pioneering consumer microlending platform based in Mexico, has announced a significant boost to its operations with $120 million in debt financing obtained in a pre-Series A round. The round was led by SixPoint Capital Management, a U.S.-based fintech capital partner, marking a major… Read More

NovoPayment, a Payments Infrastructure Provider, Obtains Mastercard Certification

NovoPayment, a mission-critical financial and payments infrastructure provider, announced today that it has received Mastercard certification, as part of the Mastercard Network Enablement Partner program, to switch and process Mastercard transactions in Mexico. The Network Enablement Partner (NEP) program is “a Mastercard initiative that enables… Read More

Kueski, a BNPL Provider in LatAm, Available as Payment Option via Amazon for Mexico based Consumers

Kueski, the buy now, pay later (BNPL) provider in Latin America, has taken a major step forward in expanding financial access for everyday Mexicans and will now be available as a payment option on Amazon.com.mx. As a result, shopping will be more convenient and customers… Read More

Digital Banking: Grupo Financiero Banorte Introduces bineo, a New Virtual Bank in Mexico

Grupo Financiero Banorte, one of Mexico’s largest financial firms, has introduced bineo, a virtual bank that will provide savings accounts as well as personal loans with the goal of onboarding 2.8 million new customers in the upcoming 5 years. Banco Banorte, which is reportedly owned… Read More

Viamericas, a Remittance Payments Fintech, Integrates with 24Xoro to Provide New Options for Receiving Funds in Mexico

Viamericas Corporation, which claims to be a licensed, international remittance company, recently has integrated with 24Xoro in order “to provide additional options for remittance beneficiaries to receive money in Mexico, providing Viamericas customers more options and locations for their remittance recipients to receive their money.”… Read More

Mexico’s RUUT and Alpaca Are Supporting Fintech Solutions for New Investors

Launched with the intention to provide accessible, fair, and simple tools for wealth generation, RUUT is addressing Mexico’s unique challenges faced by new investors. Currently situated in Mexico City and supported by Alpaca’s Broker API, RUUT has seen significant growth since their launch while “ensuring… Read More

Visa to Acquire Majority Interest in Prosa, a Payments Processor in Mexico

Visa (NYSE: V), an enabler of digital payments, announced it has entered into a definitive agreement to acquire a majority interest in Prosa, a payments processor in Mexico, to accelerate “the adoption of secure and innovative digital payments in the country.” Under the agreement, Prosa… Read More

Mexico’s Payroll Lending Firm Credifiel Reports Steady Business Growth

Credifiel reports that the company increased its revenue by 24% in the nine month period ending September 2023 “compared to the same period last year, reaching €32.7 million1, a net profit of €5.7 million.” The company further shares that its loan portfolio “increased by 74%… Read More

Mexico’s Trafalgar Partners with Thought Machine

Trafalgar, a Mexico-based financial services provider for SMEs (regulated SOFIPO), today announces its partnership with Thought Machine, the cloud-native banking technology company, to create Mexico’s first fintech deployed on next-generation core technology. Trafalgar will use Thought Machine’s core banking platform, Vault Core, and develop a… Read More

Digital Banking: Brazil’s Nubank Reaches 90M+ Customers in LatAm Markets

Nubank (NYSE:NU) has surpassed 90 million customers in Latin America in its operations in Brazil, Colombia, and Mexico, consolidating its position as one of the fastest-growing financial services companies in the world. David Vélez, Nubank’s founder and CEO, at an event for the press and… Read More

Latin America: Accenture Expands Cybersecurity Services Capabilities in LatAm with MNEMO Mexico Acquisition

Accenture (NYSE: ACN) has acquired MNEMO Mexico, a privately held company specializing in managed cybersecurity services. Financial terms were not disclosed. Founded in Mexico City in 2012, MNEMO Mexico “has 229 cybersecurity professionals and 180 cybersecurity industry certifications with key ecosystem partners.” The company’s portfolio… Read More

Fintech Airwallex to Acquire Mexican Payments Firm MexPago

Airwallex, a global payments and financial platform for modern businesses, today announced it has signed a definitive agreement to acquire MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) license-holder. The transaction is subject “to regulatory approvals and customary closing… Read More

Latin America: Crypto Adoption in Venezuela and Argentina Is Example of Technology’s Unique Value Proposition – Report

Latin America has the seventh-largest crypto economy of all regions Chainalysis studies. it is not far behind MENA, Eastern Asia, and Eastern Europe. Its position compared to other regions has “held relatively steady over the last two years.” Latin America shows the highest preference “for… Read More

Mexican Fintech albo Finalizes $40M Series C to Streamline Payment Services

Mexican Fintech albo has reportedly secured $40 million in capital via a Series C round in order to enhance its payments services. albo’s investment round included participation from Nazca, Morpheus Ventures, and Valar Ventures. In addition to the raise, the Fintech company said it will… Read More

Fintech Credolab, Circulo de Credito to Provide Credit-Scoring Solutions to Mexico

Credolab, a smartphone and web behavioural data analytics platform, has announced a strategic partnership with Circulo de Credito, a fast-growing Credit Information Society (Credit Bureau) in Mexico. The partnership aims to bring more financial inclusion to Mexico by “providing innovative credit, risk and fraud scoring… Read More

Mexico’s Kueski, the BNPL and Online Consumer Lending Platform, Makes Key Appointments

Kueski, which claims to be one of the largest buy now, pay later (BNPL) and online consumer lenders in Mexico, announced the appointment of Javier Irigoyen as Head of Product Management for Kueski Pay, the company’s buy now, pay later (BNPL) product, and Patrick Strange… Read More

Digital Banking: Nubank Strengthens Presence in Mexico with Launch of Personal Loans

Nu Mexico announces the launch of its new product: personal loans. Like all Nu products, the launch will follow “a phased rollout process, starting in the coming days with a group of employees who will begin testing the product, to then expand the offering to… Read More

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