For the first time ever, giant Wall Street investment bank Goldman Sachs’ (NYSE:GS) structured finance division is providing a $100 million secured credit facility to Mexico-based Fintech startup Konfio Ltd. The funds will be directed toward Konfio’s business operations, which include providing unsecured working capital… Read More
In one of largest seed rounds in Mexico´s history, Fintech minu has raised $6.5 million from QED Investors, Village Global, Next Billion Ventures and Mountain Nazca as well as multiple angel investors like PayU and Cornershop founders. Village Global is a Silicon Valley fund backed… Read More
Digital payments platform Stripe announced on Tuesday it has launched its newest office in Mexico City. According to Stripe, the office is its first in the region and will be home to teams focused on building products for the most ambitious technology companies in Latin… Read More
Bitso, cryptocurrency platform in Mexico that claims one million users, has become the first Latin America company to be fully licensed as a Distributed Ledger Technology (DLT) Provider in Gibraltar. Bitso will now operate within a regulated environment thus ensuring custody, withdrawals, and trading of… Read More
Bitso, a Mexico-based cryptocurrency platform, announced on Thursday it secured a Distributed Ledger Technology license from the Gibraltar Financial Services Commission (GFSC). Bitso reported that stating August 1st the custody, withdrawals deposits, and trading of cryptocurrencies made on its platform will be regulated by the… Read More
New rules for the Fintech industry in Mexico have been released. These updated rules from Condusef are said to focus on transparency and best practices. The rules impact crowdfunding and cryptocurrency, according to a report in BNAmericas. Referencing a report from Moody’s, the write up… Read More
BBVA announced on Tuesday, in partnership with Uber, that it is launching what it claims to be the first banking product in Mexico that operates in a third-party app. BBVA reported that through the Uber application, Uber’s driver and delivery partners may quickly and easily… Read More
Nubank, a Brazil-based fintech startup, announced on Wednesday its arrival in Mexico through a new subsidiary company called “Nu.” Nubank reported that this is the first time that it will offer products outside of Brazil. The fintech’s goal is to challenge the complexity of the… Read More
Jacob Burrell Campos, 22, from Rosarito, Mexico, has been sentenced to two years in prison and will forfeit $823,357 “in illicit profits” after being convicted of running an unlicensed money transmission business, that, “…(sold) hundreds of thousands of dollars in Bitcoin to over 1,000 customers throughout… Read More
Credijusto, an SME lending platform that is based in Mexico, announced on Friday it has closed a credit facility with Goldman Sachs for up to $100 million. According to Credijusto, The transaction provides the lender with the funding capacity to further expand its lending across… Read More
Scotiabank and The Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), commonly referred to as Tec de Monterrey, announced last week they have teamed up to launch Factory A in Mexico City, which is the bank’s first fintech accelerator program. According to the duo, 10 fintechs will be selected… Read More
Overstock’s (NASDAQ:OSTK) Medici Land Governance (MLG) subsidiary has signed a Memorandum of Understanding (MOU) with the municipality of Tulum in Quintana Roo, Mexico. The MOU is to develop a digital land records platform built on their blockchain platform. MLG and Tulum officials expect to “work together to… Read More
Albo, a Mexico-based fintech that offers consumers digital accounts with prepaid Mastercards for receiving, transferring, and spending, announced on Thursday it secured $7.4 million through its Series A investment round, which was led by Mountain Nazca and joined by the impact investment firm Omidyar Network,… Read More
Fintech startup Suretly has formed a joint venture (JV) with payments platform QPAGOS. A new entity will be formed called Suretly Mexico to develop Suretly’s “crowdvouching” solution for microloans in Mexico. Suretely explains crowdvouching as: The practice of financially securing a loan repayment by vouching monetary… Read More
Startupbootcamp Scale FinTech Mexico City announced on Wednesday the opening of applications for its second cohort and invites the best growth stage fintech startups. The accelerator claims to be the only fintech scaling program in Latin America and is designed for growth stages companies specialized… Read More
PayJoy, a San Francisco fintech startup, announced on Thursday it secured $20 million in debt-financing from Arc Labs, a venture partner to innovative companies serving the underbanked. According to PayJoy, the financing was given to bring smartphones and credit to the underbanked in Mexico. Founded in… Read More
PayStand, a blockchain-based, B2B payments firm, announced last week it has expanded its operation into Mexico by opening a new office in Guadalajara. According to PayStand, the new office bolsters the company’s continued focus to deliver a robust digital payments network for businesses. While sharing more details… Read More
Once again, the UK Department for International Trade (DIT) is booking trips abroad to promote and interact with financial innovation types around the world. DIT has scheduled two trips for this Fall. First, DIT has scheduled their second UK Fintech Mission to Mexico City from 11-14… Read More
Augmate, a B2B enterprise company specializing in wearable devices, has received a grant from BitcoinLatina to promote blockchain development in Latin America. BitcoinLatina provides blockchain solutions to scale Latin American consumer, enterprise, government, military, and university services and distributed applications. Its grant, which comes in… Read More
Earlier this week, Mexican Senate passed a new bill that was designed to regulate fintech companies and cryptocurrency throughout the country. As previously reported, Mexico’s President, Enrique Peña Nieto declared in September that an initiative will be submitted to regulate and provide a legal framework for fintech… Read More
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