Hi there!
Before we dive into this week’s news overview, I would like to shine a light on the ‘Connecting the Dots in Payments’ newsletter that I launched this week together with my friend and fellow FinTech Geek Wouter de Vries.
Every Thursday we will summarize the latest Global Paytech News of that week for you to stay up to date on all things in digital payments. Sign up for this great newsletter and let me do the heavy lifting for you in sourcing and curating the news.
Many thanks for your support and enjoy this newsletter!
Cheers,
Marcel
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.
REPORT
Against all odds, the FinTech sector has in the previous years not only continued to survive – but to thrive. Here are some key takeaways from Barclays and Money2020’s Future of Fintech Report.
The market maturation remains strong and is deepening in new and unexpected ways.
Digital payments are increasingly important in the B2B space, driven by trends such as B2B marketplaces as well as e-invoicing.
.The possibilities of Open Banking are becoming more widely recognized.
Read and download the full report through the link below👇
👀 NEWS HIGHLIGHT
Volkswagen launched the first FinTech in the Brazilian automotive industry, called the VW Financial Services Digital Solutions. It aims to offer financial services such as car financing, insurance, leasing, and other related services through digital channels.
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📰 ARTICLE
It is estimated that more than 300 million users use digital payments and that neobanks have already more than 30 million customers in Latin America, most of which are in Brazil and Mexico. According to an IMF report, it remains to be seen how credit quality will be maintained by these FinTech companies.
💡INSIGHTS
Brazil's top FinTechs have made huge strides in profitability over the past year -- except for one. Change in net income from '21 to '22:
🟢 PagSeguro: +$60mn
🟢 Stone: +$111mn
🟢 Nubank: +$156mn
🟢 PicPay: +$219mn
🔻 Creditas: -$66mn
Check out this great Twitter thread by Simon Rodrigues👇
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Paysend expands bank account transfer capabilities to LATAM, by enabling U.S. customers to send money to the region.
⭐️ SoftBank has $400 million to back companies across LATAM.
⭐️ Walmart acquired Trafalgar, looking to expand its financial services offerings in Mexico.
⭐️ Mastercard vows to ditch all first-use PVC plastics from its newly produced cards by 2028.
COLOMBIA
Kuadra raised $100,000 to continue growing in the country. The company is now part of this year’s selected 1% by the Techstars Miami Accelerator program.
MEXICO
FEMSA acquired NetPay, looking to strengthen its foothold in FinTech and digital solutions market. The acquisition has the potential to open up new opportunities for businesses to embrace digital payments in Mexico.
Pacto raised $4 million from venture capital investors to take its business to a national level. VC fund DILA Capital was the lead investor. The company hopes to build a customer base of 1,500 merchants by the end of this year.
CHILE
Klap partners with Mastercard to bring to the country the “Tap On Phone” technology that transforms cell phones into contactless payment terminals.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.