THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we highly recommend reading our weekly #DoneDeal newsletter right here on substack 👇
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👀 NEWS HIGHLIGHT
Citi Ventures has invested in Belvo, the leading Open Finance API platform in Latin America.
This investment will facilitate Belvo’s growth in Mexico while getting closer to Citibanamex.
👉 Read the full article here.
📊 INFOGRAPHIC
Brazil’s CAIXA Tem’s downloads double in Q2 2022.
👉 Read the full Fintech Global article here.
📰 ARTICLE
Pomelo received a new $15M investment, extending its “Series A” round to a total of $50M and increasing its valuation by 50% in the last nine months.
It also announced that the startup landed in Colombia and Peru.
👉 Read the full article here.
💡INSIGHTS
Bitcoin trading has become extremely popular in Peru in recent years.
According to a recent report by the country’s central bank, almost one-third of Peruvians are now using Bitcoin to make purchases or investments.
You can enhance your trading knowledge by visiting Bitcoin Motion.
👉 Read the full Analytics Insight article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️Prometeo Open Banking launched an account-to-account payments solution in Latin America. Prometeo’s new payment service provides a user experience with no intermediaries and convenient costs for merchants and users. Link here.
⭐️BNB Chain prepares to launch a Web3 development course for Latin American students as the region continues to be a hub for adoption and crypto-related activity. Link here.
⭐️Covalto will list on the Nasdaq exchange through a special purpose acquisition company (SPAC), the first time a Mexican fintech trades publicly on a U.S. stock bourse. Link here.
⭐️Latin America has two new mortgage fintech start-ups, with Toperty launching in Colombia and Saturn5 gearing up for launch in Mexico. Link here.
BRAZIL
MercadoLibre launches MercadoCoin and adds crypto to its loyalty programs. Mercadocoin will be inside the Ethereum blockchain. Link here.
Ripple launched RippleNet’s On-Demand Liquidity (ODL) in Brazil with Travelex Bank, the first bank in Latin America to utilize ODL. Travelex is the first bank registered and approved by the Central Bank of Brazil to operate exclusively in foreign exchange. Link here.
TecBan partnered with Mexican personal finance management fintech Finerio to offer new solutions to Open Finance participants, according to latamfintech. co. Link here.
ARGENTINA
Rebill raised US$3.6M to continue building automated payment collection. The funding announcement includes $600,000 from a pre-seed tranche. Link here.
Belo is following the US market, especially in South Florida and Miami, as a vanguard area in the cryptocurrency market. The Fintech Growth Summit raises those possibilities for hundreds of companies like Miami Bello. Link here.
COLOMBIA
Colombian National Directorate of Taxes and Customs director Luis Carlos Reyes has revealed that the South American country may issue its own central bank digital currency. Link here.
MEXICO
Covalto will list on the Nasdaq exchange through a special purpose acquisition company (SPAC), the first time a Mexican fintech trades publicly on a U.S. stock bourse. Link here.
PayStand has acquired Yaydoo. PayStand and Yaydoo will redefine the boundaries of B2B fintech across the continent. Link here.
Nubank, Latin America’s largest fintech, is growing fast in Mexico. Nubank announced it had expanded its customer base sixfold in the country over the past year, reaching a total of 2.7 million customers from 0.4 million in the same period of 2021. Link here.
Lirium will begin powering digital currency access and settlement services for Mexican digital wallet Albit, reaching more than 2 million customers. Link here.
ECUADOR
Kushki acquired Billpocket. The acquisition combines two best-in-class payment companies, combining Kushki’s online expertise and regional positioning with Billpocket’s experience and know-how in card present payments. Link here.
If you are a fintech startup and have over 100 questions, send me an email. Maybe I can answer a few.