👀 NEWS HIGHLIGHT
Mozper, the startup that helps parents in Latin America educate their children to make smart and responsible financial decisions, launches in Brazil, together with Visa.
Mozper uses Visa’s contactless payment technology for their cards which work together with the Mozper app.
Mozper is 100% family-oriented, offering parents a full range of control over spending while advancing their children's financial education. For guaranteed security, adults can lock and unlock the card at any time and keep track of spending in real-time.
The innovative Mozper platform – available as an app – is secure, intuitive, and easy to navigate, making it more engaging for children to use.
It also has a feature to allocate money into spend categories, effectively creating a budget that can be used based on the indications set by the parents.
This allows limiting spending on categories such as food, entertainment (ie, video games), clothes, toys, and cash withdrawals.
👉 Read the full FF News article here.
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📰 ARTICLE
Latin Americans seeking the ability to invest in companies trading on the Nasdaq and New York Stock Exchange now have a new option in Vest, a startup that has launched a mobile-first brokerage app with zero-commission trading in the Americas.
CEO and co-founder Aaron Polhamus said he, Miguel Arroyo and Jaime Rodas were driven to start Vest in December 2020 because of their belief that while Latin Americans work hard for their savings, “historically their savings have not worked hard for them.”
To help remedy this problem, Vest aims to provide direct access to U.S. equities investments to retail investors in all major economies in Latin America, as well as in the United States.
👉 Read the full Techcrunch article here.
💡INSIGHTS
dLocal, the leading payment platform connecting global merchants to emerging markets, announced its expanded partnership with Rappi, an on-demand delivery startup operating in Latin America.
Under the strengthened alliance, Rappi’s customers in Brazil can now opt to use PIX payments for purchases made in the Rappi app.
Pix adoption growth rate has been among those instant payment systems with the fastest adoption around the world. A year after rollout, Brazil’s instant payment system represents 72% of the country’s transactions.
The Central Bank of Brazil disclosed that over 100 million people have already executed at least one PIX transaction since it’s roll out in November 2019.
👉 Read the full article here.
🎤 PODCAST
In this latest edition of The Fintech Times podcast, host Francis Bignell chats to Jose Marti, Head of Global Sales at PayRetailers, on the fintech opportunities currently present in Latin America.
👉 Listen to the podcast here.
🎤 PODCAST
Ana Paula Picasso from Emerging Markets Today invited Guy Hartstein a VC analyst from Recharge Capital, LP backed fund with a strong focus on emerging markets.
This episode is all about fintech funding! Latin America’s fintech companies are growing and getting funding is an on-going challenge for all startups in the region.
👉 Listen to the podcast here.
👀 Looking for funding news? We've moved them to their own special weekly newsletter here.
👉 Read all about M&As, VCs, Down Rounds, IPOs, Funding Rounds, etc.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Paysafe, a leading specialized payments platform, announced the completion of its SafetyPay acquisition. Link here.
⭐️ Revolut has announced that U.S. customers can transfer money to Mexican bank accounts. Link here.
⭐️ Dubai's ICICB Group preps Brazilian digital bank. Link here.
⭐️ Celo, a leading, carbon-negative, Layer-1 protocol with a rich ecosystem of Web3 applications, announced the activation of an algorithmic, Brazilian Real-denominated stablecoin Celo Real (cREAL). Link here.
⭐️ Ebury, the global FinTech specializing in international payments, is preparing to accelerate growth in Latin America following the positive opening of its Brazilian office. Link here.
BRAZIL
Junqueira, 39, first joined the three-comma club last month when shares of the Brazilian digital bank debuted on the New York Stock Exchange, rising 15% on the first day of trading and fetching a $45 billion valuation.
With a 2.9% stake in Nubank, she was worth about $1.3 billion–making her only the second woman in Brazil to be a self-made billionaire at the time, and one of just two female fintech billionaires (the other is Jenny Just).
Her fortune now stands at an estimated $900 million amid a broader market sell-off; Nu’s stock price has tumbled about 29% since January began, compared to an 9% drop for the S&P 500 index in the same time period.
👉 Read the full Forbes article here.
MEXICO
Hola Cash recently launched the first checkout solution in LatAm that combines and orchestrates all the different payment methods, prevents fraud, and powers one-click checkout with a single integration.
In 2021, 44.2% of Mexicans regularly purchased from digital stores. According to data from the Mexican Association of Online Sales (AMVO), from 2019 to 2020, digital purchases increased 81% in the country; however, from 2015 until today, the average acceptance rate in digital transactions has been 65% or lower in Mexico, on top of that, in LatAm we are experiencing 80% cart abandonment rate at the final step of the checkout. Hola Cash’s Checkout Solution exceeds 90% approval rate and creates accounts for shoppers which decreases the checkout abandonment rate.
"In the last two years, we have developed technology that allows us to work with all the payment methods available, and we also achieved the lowest fraud rate in the market for online transactions," said Leonardo Estrada, CEO and co-founder of Hola Cash.
👉 Read the full Finance Yahoo article here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.