THIS WEEK’S FUNDING NEWS OVERVIEW
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REPORT
Buy now pay later (BNPL) has become an important part of consumers’ purchase decisions and payment behavior, and the industry has reached a critical stage of development.
👉Read the full report by Francesco Burelli, Steven Jacob, and Oliver Leimbach here.
👀 NEWS HIGHLIGHT
It is only the second Brazilian company in the U.S. bank's corporate venture capital portfolio, which, among dozens of startups in the portfolio, had only proptech Loft.
Warren enters international play with Apex platform.
Series C was announced by Warren in April last year, with R$300 million in financing. Citi Ventures had come to evaluate the company at the time, but the round was already practically closed. In the Series C extension, the company gains breath for the growth of its business.
👉 Read the full Latam Fintech article here.
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📊 INFOGRAPHIC
Latin America and the Caribbean were one of the regions that saw one of the biggest expansions in financial inclusion in the developing world: the share of adults who have a bank account rose 18 percentage points compared to the 2017 report, the most recent.
👉Read the full article here.
💡INSIGHTS
The 14 biggest neobanks in LATAM (by # of clients) 👓
LATAM FinTech Hub recently published a map of LATAM neobanks with the most number of clients.
👉 Check out the infographic here.
📰 ARTICLE
Mottu, a São Paulo-based motorcycle rental startup, has raised $30 million in equity in a Series B round of funding.
The company, which aims to give independent couriers a way to work for logistics and food delivery apps, also secured $10 million in debt financing. Most, if not all, the workers have little to no, or bad, credit, so purchasing a motorcycle outright is not an option.
👉 Link to the full article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Belvo receives authorization to develop payment initiation solutions in Mexico. Link here.
⭐️ Nubank announced a partnership with Shopee that offers cashback of up to BRL 50 per purchase. Link here.
⭐️ Women make up just 22% of Latin America vc fund partner count. In the fourth quarter of 2021, Endeavor interviewed more than 120 general partners of VC funds investing in the region and found that, on average, women make up 22% ofthe total partner count. Link here.
⭐️ Neobank PagSeguro has just launched a credit card linked to investment in CDBs in Brazil. Link here.
BRAZIL
Lara Lemann and Monica Saggioro of Sao Paulo–based MAYA Capital take a regional approach to invest, and their strategy is paying off. The investors raised $40 million for their first fund after starting the firm in 2018 and have now closed on $100 million in capital commitments for MAYA’s second fund. Link here.
Magalu has high expectations for open finance. The digital arm of Brazilian e-commerce giant Magazine Luiza plans to utilize technology and talent to take advantage of new business models that open finance will generate, and also make the solutions available to third parties, according to an executive at the company. Link here.
Nubank announced a partnership with Shopee that offers cashback of up to BRL 50 per purchase. To have access to the cash return, customers need to access and activate the benefit from the Nubank Mall. Link here.
Neobank PagSeguro has just launched a credit card linked to investment in CDBs in Brazil. By investing from R$ 300 in any of the CDBs offered in its app, the customer receives an offer of a credit card with no annuity, with the same amount of money invested as a limit for his purchases. Link here.
Alt.bank wants to play a part in the complex Brazilian fintech arena. According to the US entrepreneur Brad Liebmann, alt. bank, is bringing to the local market a card that combines savings accounts and credit cards to concede limits. Link here.
MEXICO
Belvo receives authorization to develop payment initiation solutions in Mexico. The company is also applying for a similar license to develop payment initiation solutions in Brazil. Link here.
Women make up just 22% of Latin America vc fund partner count. In the fourth quarter of 2021, Endeavor interviewed more than 120 general partners of VC funds investing in the region and found that, on average, women make up 22% ofthe total partner count. Link here.
ECUADOR
Daxsen Group is supposedly set to launch a new digital bank in the country named Daxsen Bank, supported by its investment management firm Daxsen Capital. With Daxsen Bank, the firm intends to reduce operational and transactional costs to “revolutionise” the country’s banking sector. Link here.
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