LATAM Fintech | 2021 #5
Hi, there!
To kick off this LATAM weekly newsletter I’d like to share with you Thiago Paiva’s Fintech Market in Latin America 2021 Q1: Investment and Deals Report.
Fintech in Latin America had a good first quarter in 2021 with over USD 1.4 billion in raised capital.
👉 Learn more here.
PicPay, which operates a mobile payments app in Brazil, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Operating under the name PicPay, the company states that it is the largest Brazilian super app by registered users as of December 31, 2020.
PicPay is a digital ecosystem that allows users to transact, communicate, and access financial services. PicPay's key offerings include social networking, digital wallets, financial services, and e-commerce.
👉 Link here.
Brazilian digital bank Nubank has initiated preparations for a U.S. stock market listing that could come as early as this year, according to people familiar with the matter.
It would be one of the biggest stock market debuts of a South American company in recent years. Nubank was valued at around $25 billion in a January private fundraising round, more than doubling its valuation.
Nubank, whose legal name is Nu Pagamentos SA, is working with advisers about an initial public offering in New York, the sources said, requesting anonymity as the plans are confidential.
👉 Link here.
Nequi is the first neobank in Colombia. It was born in the innovation laboratory of Bancolombia, one of the most solid financial entities in the country.
Nequi was created in response to the financial needs of people, from the generation of a relationship of trust and credibility.
Nequi calls itself the rebellious son of Bancolombia, because our goal is to break the paradigm of banks in Colombia, which are seen by most people as institutions far removed from reality.
👉 Link here.
During the last 12 months, six new Latin American unicorns were born.
New records were set for total capital invested in Mexico ($831 million) and Chile ($136 million).
Also, well-known global investors such as Accel, Andreessen Horowitz, GeneralAtlantic, Sequoia Capital, SoftBank, and SilverLake made large-round investments of $50 million or more, and there was a new, emerging trend of diversity-focused vehicles including Microsoft’s WE Ventures, GoogleforStartups’ BlackFoundersFund, and Nubank’sSementePreta.
👉 Learn 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