REPORT
In Colombia, similar to other Latin American markets, consumers reported shopping online about one-third of the time.
Fashion, restaurant and food takeout and beauty are some of the top products Colombians seek out online.
Mobile shopping is predominant, especially in the top categories. Online payment platform PSE is a popular and the preferred way to pay for online purchases.
👀 NEWS HIGHLIGHT
Bitfinex launches peer-to-peer platform ‘Bitfinex P2P’ in Venezuela, Argentina and Colombia.
Bitfinex P2P allows customers to buy and sell Bitcoin (BTC), Tether tokens (USDt and EURt), Tether Gold (XAUt) and Ether (ETH) directly while completing payment directly with one another outside of the Bitfinex platform. Customers can also swap one digital token for another within the marketplace.
📰 ARTICLE
The fintech sector is one of the fastest growing in terms of venture capital investment. However, there are still many issues to be solved.
Venture capitalists are always on the hunt for rapid growth and high returns. Especially from fintech, the most promising sector in most regions.
💡INSIGHTS
New research from Fundação Getulio Vargas brings a series of sobering stats about Brazil’s financial workforce. Women work more and make less money: while 40% of the workforce is female, only 7% of leadership positions are held by women — and most are concentrated in support functions. Plus, women work 5% longer hours, on average.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Revolut extends crypto investment services to brazilian customers.
⭐️ Brazil’s CBDC allows government to freeze funds.
⭐️ Regcheq raised USD $2M to expand into Brazil and Mexico.
⭐️ Culttivo raised a $15mn round through a FIAgro credit receivables fund (FIDC) from Octante Capital.
BRAZIL
Nubank enlists Fireblocks as it expands blockchain offerings. Nubank will expand its crypto services, Nubank Cripto, currently available to its customers in Brazil. As part of the expansion, Nubank has signed an agreement with Fireblocks.
Mastercard is among the companies that have been chosen by the Brazil Central Bank to be part of the next phase of the development of Real Digital: the tests with a pilot version of the digital currency.
“Tokenization as a service” offerings will be part of the next wave of fintech business models in Brazil, argues Pomelo COO John Paz.
N26's Eduardo Prota reportedly told that they are not leaving the Brazilian market. Despite laying off staff in Brazil, he said that N26 is concentrating on making the account the main account for their customers.
Nubank, in partnership with Estrela, a traditional Brazilian toy manufacturer, is launching Jogo da Vida Nu (Nubank’s version of the Brazilian The Game of Life).
Revolut ends the wait. It took 2 months for the UK-based neobank to onboard all customers from its Brazilian waitlist, but Revolut is now fully open for business in Brazil.
ARGENTINA
Ripio announced the launch of a new, Latin America-focused blockchain at its recent Modular Summit in Buenos Aires.
COLOMBIA
Monet teamed up with Belvo to tap into open finance data, utilizing machine learning techniques to successfully build a new credit scoring model.
Kapital announced the launch of Kapital AI. The platform aims to assist businesses in Colombia with finance management and streamline collections and payment processes.
MEXICO
Mattilda grabs another $19M, this time to expand beyond Mexico’s private schools.
Mexico’s Securities and Exchange Commission (CNBV) approved HeyBanco’s banking license application.
Bitso has partnered with the data intelligence firm Mobile Streams to expand its sports NFTs offerings.
ECUADOR
Banco Guayaquil's digital wallet, PeiGO, unveils its virtual roadmap: It plans to build an ecosystem with ‘nanocredits,' insurance and payment products in an effort to double the number of users by the end of the year.
CHILE
FC Bayern Munich and Global66 have announced a partnership between the 33-time German champions and the South American financial solutions company.
Koywe is looking to revolutionize local payments in Latin America and offer better transaction rates and faster settlement times, through web3 technology.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.