LATAM Fintech | 2021 #2
Fintech companies are revolutionizing the way of understanding, creating, and providing financial services in modern times, providing new ideas and renewing the traditional formula of the sector through the use of information technologies, mobile applications, and big data.
In this race to create innovative financial products, Latin America has not been left behind and has shown itself as fertile ground.
In recent years, Latin American fintech entrepreneurship has grown by 60% and attracted the attention of investors and international corporations: Mexico, Brazil, and Colombia top the list of countries with startups dedicated to the sector.
👉 Read more here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S LATAM FINTECH SPACE
NEWS HIGHLIGHTS
Co-founder of Nubank, Cristina Junqueira, took over as CEO of the digital bank in Brazil, in place of also co-founder, Colombian David Vélez, who became global CEO - a chair that did not exist at the neobank until then, and makes perfect sense after fintech opened its operations in countries like Colombia and Mexico.
In a note to Valor Econômico S/A, the digital bank said it had reorganized the structure of the Brazilian operation, a change that is a natural step to organize governance and support the group's international expansion.
👉 Read more here.
Cross-border payments startup dLocal has raised $150 million at a $5 billion valuation, less than seven months after securing $200 million at a $1.2 billion valuation.
👉 Read more here.
Itaú Unibanco announced a new alliance with Rappi that will bring greater financial inclusion to Chile. This initiative is backed up by the experience and support of both Itaú and Rappi.
👉 Read more here.
Brazil's central bank has given Facebook-owned WhatsApp the greenlight to relaunch P2P payments in the country - nine months after suspending the service.
👉 Read more here.
Dapi is officially launching with Mexico. This is their second market launch outside of MENA and the first in Latin America.
Mexico is a natural starting point in expanding its presence in the region. With a GDP of $1.2 trillion, it is the second-largest market in Latin America.
👉 Read more here.
The Peruvian Fintech Máximo and close to becoming a Neobank for the new generations, this week launched its Personal Finance module with a very special feature.
Máximo users will be able to re-categorize from the application the businesses where they buy with the prepaid card and also can including expenses that have not been paid with the Máximo card.
👉 Read more here.
This ends my weekly LATAM fintech newsletter. Thank you for reading to the end! If you liked it, I invite you to like, share and/or leave a comment below.
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Let me know if there are any questions or news/insights worth mentioning in next week's newsletter. Until the next!
Regards,
Marcel van Oost