THIS WEEK’S FUNDING NEWS OVERVIEW
👀 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.
👀 NEWS HIGHLIGHT
Brazil’s Chamber of Deputies voted to approve PL 4401/21, legislation that would establish a regulatory regime for cryptocurrency businesses operating in the country.
The bill now heads to the desk of President Jair Bolsonaro, who is expected to sign it into law, per Portal do Bitcoin.
👉 Read all about it in Aaron Stanleys newsletter here.
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📰 ARTICLE
Gabriel Vasquez, an Andreessen Horowitz partner dedicated to fintech investments in LatAm, states in the report that “the first wave of B2C fintech, such as neobanks and BNPLs (buy now-pay later), discovered that there was no infrastructure available at the time they emerged, such as new payment processes.”
This meant that they had to build this infrastructure in-house.
👉 Read the full contxto article by Sandra Pérez here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Saque y Pague announced that it would invest $50 million to expand its operations in Latin America. Link here.
⭐️ VentiPay raises USD $370K. Link here.
⭐️ Brazil’s fintech sector will likely face increasing cybersecurity costs in the coming years as digitization moves forward. Link here.
⭐️ Inter&Co has joined the Amazon Payment Service Provider (PSP) Program. Link here.
BRAZIL
Brazilian financial and eCommerce platform Inter&Co has joined the Amazon Payment Service Provider (PSP) Program. Link here.
Klavi attracted new investors for its USD 15 million Series A round. Klavi is now bringing BV Bank and RX Ventures , a Corporate Venture Capital (CVC) fund launched in 2022 by Renner, to the table. Link here.
National Monetary Council allowed credit fintechs to initiate payment transactions, clearing them to provide payment services to consumers. Link here.
Brazil’s fintech sector will likely face increasing cybersecurity costs in the coming years as digitization moves forward. Link here.
COLOMBIA
Finkargo raised $75 million in structured credit from Community Investment Management — an impact investment fund that focuses its resources on companies that promote financial inclusion. Link here.
Saque y Pague announced that it would invest $50 million to expand its operations in Latin America. The company will seek to strengthen its regional network and install 2,000 of its self-service terminals in the Colombian market over the next four years. Link here.
MEXICO
Nubank broadens product portfolio in Mexico: launches waitlist for digital account and debit card. Mexico represents the second largest market for Nubank, where the company currently offers a credit card and serves over 3 million customers. Link here.
CHILE
VentiPay is creating the most complete payment gateway in Latin America, allowing users to pay in cash or installments without interest using a debit or credit card and enabling direct bank transfers. Link here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.