👀 NEWS HIGHLIGHT
LatAm's Nubank beats revenue estimates on strong client additions.
The neobank reached nearly 60 million customers in Brazil, Mexico, and Colombia.
“This is the strongest quarter in Nu’s history. We reached nearly 60 million customers and a record-high activity rate of 78%,” Chief Executive Officer David Véléz said. The majority of clients (57.3 million) are in Brazil.
👉Read the full LABS article here.
📊 INFOGRAPHIC
After venture capital investment reached a record $15.7 billion in 2021, more than what was raised by Latin American startups in the entire previous decade, and Latin America did not show signs of slowing down during the first quarter of 2022 compared to the first quarter of 2021.
In contrast to the downward trend in venture capital investments in the U.S., Latin America saw a total of $2.8 billion invested in 190 deals, according to LAVCA, making this the fourth-richest quarter on record for investments in Latin America.
👉Read the full article here.
📰 ARTICLE
PayRetailers, the leading LATAM fintech payments specialist, will be attending the iFX EXPO International 2022, from 7 to 9 June in Limassol, Cyprus.
The PayRetailers’ team of payment experts is ready to discuss the myriad of opportunities available to executives, directors, regulators, and leaders from various international industries looking to expand in the local markets of Latin America.
👉Read the full blog here.
👨💻 BLOG
Belvo launches an official Open Finance solution for regulated institutions in Brazil and it is the first in the market to allow access to standardized and enriched data from both regulated and non-regulated institutions through a single platform.
Through Belvo’s new Open Finance product, which is compliant with the guidelines from Banco Central do Brasil (BACEN), financial innovators now have an easy and secure way to access end-user data according to present and future regulations.
👉 Read more here.
💬 INTERVIEW
When Pedro Conrade started Brazilian digital bank Neon in 2016, he was a 23-year-old business school student who was frustrated with the service and costs associated with traditional banking in his country.
“I wanted to help underserved people in Brazil and offer them financial education, and a better relationship with banks,” he told TechCrunch in his first interview with a U.S. publication.
👉Read the full article by Mary Ann Azevedo here.
💡INSIGHTS
WhatsApp is introducing a P2P payments option in the contact card of the messaging system in India and Brazil.
The new pay button feature makes it possible for people to send money directly to family, friends, and loved ones from the contacts menu.
👉Read the full article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️WhatsApp is introducing a P2P payments option in the contact card of the messaging system in India and Brazil. Link here.
⭐️ Mexican cryptocurrency unicorn Bitso launches in Colombia. Link here.
⭐️ Digitra.com raises USD5M in funding. Link here.
BRAZIL
Neon announced an overview of the company’s growth and momentum that led up to its recent US$300M Series D round, resulting in a valuation of US$1.6B and its achievement of Unicorn status. Link here.
Experian Plc has agreed to acquire MOVA, a leading fintech in Brazil that helps equip any company, including non-banks, with the expertise and technology to perform data-driven credit assessments of their SME end clients. Link here.
Digitra.com, a crypto exchange built with a focus on technology, compliance, and governance, raised usd5m in funding. The funds will be used to accelerate the operations of Digitra.com, and the expansion of other projects such as the development of the Real’s stablecoin developed by company nTokens. Link here.
ARGENTINA
The financial market regulator in Argentina launched a fintech innovation hub, a decision that officials believe is a first step toward issuing cryptocurrency and fintech regulation at a later stage. Link here.
COLOMBIA
BPC announced a strategic partnership with Powwi, licensed as a deposit-taking institution, one of Colombia’s most successful payment companies, and a champion of financial inclusion. Link here.
Mexican cryptocurrency exchange platform Bitso has begun operating in Colombia, its fourth market, where it hopes to accumulate 1 million clients just this month. Bitso currently has 4 million customers in Mexico, Brazil, and Argentina. Link here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.