THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we highly recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
Bronze🥉!
Congrats to all of you listed and to those who are not. Keep sharing those updates for the FinTech community!
👉 Check out the full Onalytica list/article “Who’s Who in Fintech? Top 50 Influencers to Follow” here.
REPORT
Latin America Digital Report 2022.
👉 Check out the latest “Latin America Digital Report 2022” by Atlantico here.
👀 NEWS HIGHLIGHT
The first Mexican unicorn, Kavak, announced it has signed structured financing agreements worth USD $810M with HSBC, Goldman Sachs, and Banco Santander.
Kavak operates as a buying and selling platform for used cars. The startup also reconditions the vehicles for sale in its own centers.
👉 Read the full hyperlatam article by Santi Hamlin here.
📰 ARTICLE
The trend in LatAm is not lost among venture capital firms.
Investments in this sector jumped from $68 million in 2020 to $658 million in 2021, according to industry group Lavca.
👉 Read the full Latam list article by Alejandra Cruz García here.
👨💻 BLOG
‘While you grow, the company grows by your side’: stories from women building their careers at Belvo.
Three women at Belvo share the stories of how they’ve grown in the company since they joined and how they’ve experienced the sometimes ‘scary’ but always rewarding learning journey in a fast-growing environment.
👉 Read the full Belvo article here.
🎤 PODCAST
McKinsey on Start-ups speaks with Lluís Cañadell, the co-founder and CEO of Treinta, a Colombia-based fintech startup focused on helping Latin American microbusinesses transition into the digital era.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️Brazilian Federal Police raids 6 crypto exchanges in money laundering investigation. Link here.
⭐️Payretailers and XBO.com partner to expand operations in LATAM. Link here.
⭐️ Revolut announced its expansion into Mexico and Brazil, with a plan to hire 250 new employees in both countries by 2025. Link here.
⭐️Vesto's powerful digital asset infrastructure for businesses has partnered with Latamex, a fiat-crypto gateway into Latin America, namely Mexico, Brazil and Argentina. Link here.
⭐️ AstroPay teamed up with cryptocurrency exchange Huobi Global to provide fiat to crypto payment services in Latin America. Link here.
BRAZIL
Persona partnered with Serpro, the federal government technology company of Brazil. Persona has integrated with Serpro to unlock the ability to validate both PII and biometric information against government data sources. Link here.
The Brazilian Federal Police began raids on six undisclosed crypto exchanges in an investigation into tax evasion and money laundering involving the use of cryptocurrencies. Link here.
ARGENTINA
Bitso launches its crypto-enabled QR code payments system in Argentina — a first for the region. This new service allows Bitso’s more than one million customers in Argentina to make everyday payments from the Bitso app at any store that accepts QR code payments. Link here.
COLOMBIA
RappiPay Colombia obtained a $112M financing to improve financial inclusion in Colombia. The financial credit granted to the fintech was provided by Bancolombia, Banco de Bogotá, Davivienda, and Itau. Link here.
The Colombian Fintech Association has approached the monetary authorities in Colombia and Brazil as a first step towards adopting Pix in the Andean country. Link here.
Mono launched a new initiative to connect Colombian startups to Latin American funds and investors. This initiative goes by the name of Mono VC, and some of the participant investors and funds are Magma Partners, QED, ALLVP and other angel investors. Link here.
CHILE
Aquila announced the acquisition of Asesorias Computacionales Neosoft SpA. (“Neosoft”), a comprehensive regulatory reporting and compliance management system for banks and financial institutions across Chile and Latin America. Link here.
PERU
Wolet raises USD $2M to facilitate credit to SME's in Latin America. Wolet operates as a Loan-as-a-Service (LaaS) Fintech that enables Fintech-integrated platforms to provide capital to SMEs. Link here.
If you are a fintech startup and have over 100 questions send me an email. Maybe I can answer a few.