Tagged: South America

Fintech Unicorn Nubank’s Mexican Division Nu Mexico to Acquire $135M in Capital to Expand Operations in Latin America

The Mexico-based division of Fintech Unicorn Nubank, which is notably the largest standalone digital banking platform in the world, will be acquiring $135 million in capital in order to support its business operations in the Latin American (LatAm) region’s second-largest economy. As first reported by… Read More

Brazilian Fintech Cora Secures $26.7 Million Through Series A Funding Round Led By Ribbit Capital

    Cora, a Brazil-based fintech, announced on Monday it raised $26.7 million through its Series A funding round, which was led by Ribbit Capital with participation from  Kaszek Ventures, QED Investors, and Greenoaks Capital. Cora reported that with the latest round of funding, it has… Read More

Global Real Estate Funding Slowed Down Significantly in Late 2020, but Brazil’s Loft Holdings Bags $425M

The global real estate fundraising activity weakened or slowed down significantly last year, according to a report from Pitchbook. Companies were, however, able to keep activity “steady” during H2 2020, but toward the end of the year, fund closings had “ground nearly to a halt,”… Read More

Brazil-Based Mobile Payments Platform RecargaPay Attracts $70 Million Through Series C Funding Round Co-Led By IDC Ventures & Fuel Venture Capital

  Brazil-based mobile payments platform RecargaPay announced on Wednesday it secured $70 million through its Series C funding round, which was co-led by IDC Ventures and Fuel Venture Capital with participation from  ATW, LUN Partners, and Experian. The funding round comes less than three years… 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

Brazilian Fintech Nubank Secures $400 Million Through Series G Funding Round

  Nubank, a Brazil-based fintech startup, announced on Thursday it raised $400 million through its Series G funding round, which attracted new investors, including GIC, Whale Rock and Invesco, along with former investors such as Sequoia, Tencent, Dragoneer, and Ribbit.  As previously reported, Nubank was founded… 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

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

TransferMate Announces Back-to-Back License Approvals in South America

  TransferMate, a cross-border B2B payment technology solution, announced on Tuesday its first two payments licenses in South America with approvals in Brazil and Chile. The latest expansion comes just a few months after TransferMate received its payments license in Mexico. Founded in 2008, TransferMate is a global B2B… 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

BBVA Teams Up With Telefónica to Offer Consumer Loans in Columbia

BBVA announced on Thursday it has teamed up with Telefónica to develop a consumer loan business, Movistar Money, in Columbia. The duo noted that Movistar Money will sell loans to more than 19 million Telefónica clients located in the country. “The new company will benefit… Read More

Argentina based Fintech Firm Ualá to Offer Mobile Payments Services to Small Businesses 

Argentina-based Fintech firm Ualá will be offering mobile payments services to small businesses. Ualá is backed by major investors such as George Soros, Steve Cohen, and Tencent Holdings Ltd. The company confirmed that it will be expanding its operations into merchant services in Argentina. Ualá… Read More

Global Fintech Circle Partners Bolivarian Republic of Venezuela and Airtm to Provide Aid to Nation’s Residents with USDC Stablecoin

Global Fintech firm Circle has teamed up with the Bolivarian Republic of Venezuela and Airtm in order to provide aid to Venezuelan residents using the USDC stablecoin. According to a release, the initiative has been introduced with government support and notably marks “a global first”… Read More

Brazil’s Reserve Bank Launches its PIX Instant Payments Platform, Might Allow WhatsApp P2P Payments Soon

Brazil’s reserve bank has launched its PIX instant payments platform and has also noted that WhatsApp might soon be allowed to reintroduce its peer to peer (P2P) payments service in the South American country. PIX allows local residents, companies, and government agencies to carry out… Read More

Brazil’s Reserve Bank Introduces Regulatory Sandbox Program to Support Financial and Payment Innovations

​Brazil’s National Monetary Council (CMN), which is responsible for establishing monetary and credit policies, will be working with Banco Central do Brasil (BCB), the nation’s reserve bank, in order to create guidelines for managing the operation of the “Controlled Tests Environment for Financial and Payment… Read More

Chile’s Ministry of Finance to Work on Regulatory Framework for Fintech and Open Banking

Chile’s Ministry of Finance recently revealed that it aims to streamline the development of its regulatory framework for Fintech and Open Banking. Chile’s government will reportedly be working on a legal proposal for standardizing Open Banking. This should help with promoting competition and innovation in… Read More

JPMorgan backed Brazilian Fintech FitBank to Expand Payments Services Business into the US

Brazil-based FitBank Pagamentos Eletronicos SA, a Fintech firm backed by JPMorgan Chase, one of the world’s largest banks in terms of assets and scope of operations, is planning to establish an additional business office in the US during the first half of next year. The… Read More

Crypto has become “Truly Global” as P2P Bitcoin Exchanges like Paxful Facilitate Transactions in Developing Countries: Report

Cryptocurrency adoption has been growing steadily across the globe, according to Chainalysis’ Global Crypto Adoption Index. As mentioned in a report from the blockchain security firm, the majority of cryptocurrency volume reflects trading and speculation that was conducted by professional or institutional investors that were… Read More

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