👀 NEWS HIGHLIGHT
Nubank is launching a new feature on the app that offers an integrated view of the different limits each customer has available, to provide simple and clear information for better control over their finances. In the section called “My Limits”, customers can manage all their available credit lines in one place, with an even more comprehensive and transparent experience.
📊 INFOGRAPHIC
In the first half of 2023, investors put $1.1 billion to work in reported seed- through late-stage financings in Central and South America, according to Crunchbase data. That’s down a staggering 83% from the same period last year.
📰 ARTICLE
📚FinTech Titans Reveal their Must-Read Books for Summer 2023 - Chapter 1👇
During this summer I will share book recommendations from FinTech industry leaders in a series of articles every Sunday.
The commercial director of Mercado Pago México explains the value the digital wallet sees in its remittance alliances and the revenue opportunities these transfers offer
💡INSIGHTS
🌎Central America and the Dominican Republic are experiencing notable growth in their FinTech sector🚀
A report from Misión Lunar identified 272 fintech firms as of February 2023.
The year 2022 alone saw the incorporation of 41 new
Let's dive in:
In its latest edition of the Finnovista Fintech Radar Colombia, Finnovista has identified 90 new FinTech startups in the country.
In the most recent period analyzed, 50 Colombian startups ceased operations, representing a mortality rate of 17.9% during 2022.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Nubank reaches 80 million customers in Brazil.
⭐️ Jeeves hits over $40M in annualized revenue as it expands beyond corporate credit cards.
⭐️ DLocallLicenced by Brazil’s Central Bank as Payments Institution.
⭐️ ACI Worldwide and Dock team up to launch acquiring-as-a-service.
BRAZIL
Brazil's Pix used for more transactions than credit and debit cards combined. Brazil's Pix continues its runaway success, with more transactions made using the instant payments platform in the first quarter than credit and debit cards combined.
EntrePay has acquired Wise Money, a P2P lending fintech, renaming it Wealth Money. This $2.5 million deal enables EntrePay to offer its customers another credit option and facilitate the creation of FIDCs based on credit card receivables.
Brazil saw a staggering $17 billion worth of cryptocurrency transactions, positioning the country seventh globally in terms of cryptocurrency adoption.
COLOMBIA
Addi is also scaling back its internationalization strategy: After just over two years of operating in Brazil, it plans to pull out of the country in order to focus on Colombia, in its effort to break even next year, the company's co-founder told Forbes.
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
Ualá joined forces with Western Union in Mexico to let users receive remittances via mobile phone.
CHILE
Koywe aims to revolutionize the LatAM fintech industry with Web3 technology. The company aims to establish a smooth collaboration to complement the assets of companies that rely on blockchain technology in the region.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.