REPORT
Which VCs are netting the most exits?
Bossanova set an impressive milestone achieving its 100th successful exit, and they claim to be Latin America’s most active investor.
Open Finance in Brazil has expended R$ 124 million from the second half of 2020 through December 2022 to build and evolve its open data-sharing ecosystem.
Out of the total funds spent, 73.3% went into technological infrastructure, including platform development and maintenance.
👀 NEWS HIGHLIGHT
Nubank introduces collateralized loan option using direct treasury.
Nubank announced a new modality of loans with investments in Treasury Direct as a guarantee. In this way, the user will be able to make the contract through the digital bank app with the promise of facing less bureaucracy and with greater speed.
📰 ARTICLE
QED Investors’ $1B capital boost offers hope for LatAm fintech.
An oversubscribed $650 million fund will focus on early-stage companies, while a second $275 million fund will target later-stage startups. While these funds will have a global focus, Latin America will remain a “significant part” of QED’s focus.
💡INSIGHTS
Analyzing Apple’s fintech strategy: How the tech giant is quietly building a next-gen fintech ecosystem.
From high-yield savings accounts and credit cards to installment loans and contactless payments, the tech giant is growing its footprint in financial services. We mined Apple's acquisitions and partnerships to discern its strategic priorities.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️Addi pay later (BNPL) services, is departing from Brazil after a two-year presence.
⭐️Binance is partnering with fintech company Vita Wallet to expand digital payment and transfer options.
⭐️Conta Azul is keen to advance its financial services without directly competing with traditional banks.
⭐️Banco de la República partners Ripple for blockchain pilot.
BRAZIL
Provu, which specializes in payment methods and personal credit, has laid off about 70 staff members.
Inswitch and Banco Rendimento join forces to enable Brazilians worldwide to make payments with PIX.
Kanastra closes 13m seed investment.
ARGENTINA
Pix, is coming to Argentina, thanks to the work of Fiserv. In the past, Pix was only usable in Argentina at businesses with Brazilian bank accounts.
COLOMBIA
FinMaq, closed a successful investment round, securing $3.5M in equity and $20M in funding. The company plans to use the capital to grow its presence in Colombia and expand operations to Chile, Peru, and Mexico.
Treinta has risen as the country's largest B2B marketplace in less than five months, offering retailers access to 32 suppliers across five cities and over 10,000 product references across categories.
MEXICO
Flink partners with popular delivery service Rappi to promote a culture of investing among Mexicans.
Santander México is adapting to the digital onboarding model of neo-banks such as Nubank and Rappi, with the goal of increasing credit lines on their LikeU and Samsung cards.
Galileo Financial Technologies announced a new partnership with Plata in Mexico to process payments and support their transactions.
ECUADOR
Flow is set to expand into Ecuador during the second half of this year. This move is stimulated by the significant boom in e-commerce in Ecuador, which grew by 150% in 2022, according to the Ecuadorian Chamber of E-commerce.
CHILE
Prex plans to expand into Chile. With over a million card users in Uruguay, Argentina, and Peru operating under Mastercard, Prex seeks to emulate this success. A significant supporter, Itaú Unibanco, acquired 30% of the company last year.
MOVERS & SHAKERS
Nu appoints Marcela Torres as the new General Manager of its Colombian operation.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.