REPORT
Check out the latest FinTech Report from Mexico by Finnovista , including a local FinTech Ecosystem Map👇
👀 NEWS HIGHLIGHT
Mastercard and Binance are launching a prepaid card in Brazil, Latin America's largest economy, as part of the crypto giant's efforts to "broaden the connection between traditional finance and crypto".
According to a statement, Binance Card is currently in beta testing and should be widely available in the next few weeks, making Brazil the second country in Latin America to receive it after Argentina.
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💡INSIGHTS
According to the official numbers disclosed by the Brazilian Central Bank, the local instant payment infrastructure PIX transacted R$ 10.9 trillion in 2022.
It surpassed the average of R$ 1 trillion per month in Q4/22 and reached a record-breaking 1.2 trillion transactions in December alone.ň
🧐 ANALYSIS
From year, Chile has had a new law to regulate and promote the FinTech industry.
And so that the information is readily and quickly available to foreign investors, InvestChile published its new e-book "Fintech Law: Keys to the new regulations for the sector in Chile."
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ PayRetailers announced the appointment of Philippe Laranjeiro as Chief Commercial Officer.
⭐️ Maximo enters the world of Web3 and launches his first collection of NFTs called "ASTROMÁXIMOS".
⭐️ Medsi raises $10M from CAPEM Mexico, to onboard 30,000 Mexican customers waiting for its ‘health asurance’ super app.
⭐️ VC DILA Capital closed its fourth fund: US$115 Million.
BRAZIL
XP Asset bought a minority stake in the financial services company One7. The deal was closed through an investment of R$ 110 million. One7 operates in the credit market for legal entities and serves mainly small and medium-sized companies.
Brick Insurance received a Pre-Seed round of investment led by Verve Capital. The investment also included the participation of Newlin Ventures, WOW Participações, and angel investors from the insurance, mobility, and technology markets.
ARGENTINA
Mercado Libre took another step into the world of crypto – and will pay its customers to refer friends to the crypto trading service on Mercado Pago, its e-pay app. Mercado Pago has crypto trading functions and allows customers to buy and sell BTC, as well as Ethereum and stablecoins.
MEXICO
VC DILA Capital closed its fourth fund: US$115 Million. The investment ticket will range from one to four million dollars in early-stage and Series A technology companies.
Medsi raises $10M from CAPEM Mexico, to onboard 30,000 Mexican customers waiting for its ‘health asurance’ super app. The fresh capital will super-charge the onboarding of tens of thousands of potentially long-term customers of the Medsi marketplace.
Clip was chosen as the only fintech in the ranking of the most valuable brands “Kantar BrandZ Top 30 Most Valuable Mexican Brands 2023”, registering a brand value of approximately US$ 981 million, which allowed it to be featured for the first time in this list.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.