👀 NEWS HIGHLIGHT
This capital will not only help solidify Albo's financial service offerings but will also cater to small and medium-sized businesses with credit and payroll management. Ángel Sahagún, Albo's founder, mentioned that the company offers a comprehensive value proposition for both individuals and businesses, covering debit, payments, credit, and more.
📰 ARTICLE
Small and mid-sized banks are likely to offer buy now, pay later solutions to attract new customers. But only the region’s bigger lenders may be able to move the needle.
The possibility of paying in instalments is not new for many Latin American markets.
Read the full article here
🌎The Buy Now, Pay Later (BNPL) Market Map Americas
Throughout 2022 and 2023, the BNPL model took center stage in FinTech discussions. Amid a challenging economic climate, consumers were drawn to its convenience and an alternative credit option.
👨💻 BLOG
🌎 Data Protection Laws and Open Finance
As data becomes more integral to companies, likened to 'oil in a barrel', there are two main challenges: unlocking its value and ensuring its safety.
This analogy implies that just as oil can cause environmental harm when mishandled, data mismanagement can lead to systemic risks and reduced trust.
This is based on a great blog post by Walter Pereira.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Tempo France and nTokens deliver remittances from EU to Brazil via Stellar blockchain.
⭐️ Nagro raises USD$49M to offer credit to rural producers.
⭐️ Paymentology and Tuily introduce Apple Pay for Colombian SMEs.
⭐️ Mundi recently secured a $15 million Series A-2 funding round, spearheaded by Haymaker Ventures.
BRAZIL
Conta Simples plans to enter credit market with SCD licence in Brazil. The direct credit company's initial capital will be R$2.6 million and the idea is to offer lines such as working capital, card revolving and advance receivables.
Nubank’s cofounder considered leaving after a blockbuster IPO. Instead, she’s leading the Warren Buffett-backed bank into its second decade.
Nubank says it has received a significant increase in the A/B loan provided by the International Finance Corporation (IFC) – part of the World Bank. Previously, the IFC had committed $150 million.
CHILE
Colektia recently closed a financing round which enabled the acquisition of a $72 million portfolio.
Patrimore from Chile adopted an unconventional approach to fundraising by acquiring contributions from some of its customers, ultimately raising USD$400K.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.