Tagged: mexico

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

Mexico-based Fintech Firm Resuelve Tu Deuda Secures $24 million in Funding to Expand Business Operations

Mexico-based Fintech firm Resuelve Tu Deuda has secured $453 million pesos (appr. $24 million) in funding which includes both equity and financing in order to expand its business operations within and outside of the Latin American region. The company’s investment round was led by Alloy… Read More

Mexico-Based Challenger Bank albo Adds $19 Million Through Extended Series A Funding Round; Brings Total Amount to $26 Million

albo, a Mexico-based challenger bank that offers consumers digital accounts with prepaid Mastercards for receiving, transferring, and spending, announced on Thursday it raised an additional $19 million through its extended Series A funding round, bringing the total amount series through the investment round to $26… Read More

Spanish Fintech Firm Latinia Invests Undisclosed Amount in Flink, a Business to Consumer Mexican Neobank

Spanish Fintech firm Latinia revealed last week that it had invested (an undisclosed amount) in Flink, a business-to-customer (B2C) Mexican digital bank. The Barcelona-headquartered company said that it changed its usual business-to-business (B2B) strategy when investing in Flink, because of the increasing demand of neobanks… Read More

Mexican Challenger Bank Fondeadora Secures $2.5 Million in Investments from IGNIA Partners, LW Investment Management, Others

IGNIA Partners, LW Investment Management, and several angel investors are backing a Mexican challenger bank, called Fondeadora, via a recent $2.5 million investment. This is Fondeadora’s second investment round in 2019. Earlier this year, the banking challenger secured $1.5 million and has now raised a… Read More

85 Fintech Firms Have Submitted Applications to Operate in Mexico

The National Banking and Securities Commission (CNBV) reportedly received 85 applications from local firms that are preparing to launch operations under Mexico’s new Fintech law, which is part of President López Obrador’s plan to promote financial inclusion. Following the issuance of the Fintech law in… Read More

Mexican Challenger Bank Klar Secures $57.5 Million Through Latest Investment Rounds

Klar, a Mexico-based challenger bank, announced on Thursday it secured $7.5 million through its seed financing round. The company also reported that it raised an additional $50 million in debt funding. The latest seed round was led by Quona Capital, a fintech venture firm which leverages… Read More

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