LATAM FinTech | 2023 #41
LATAM FinTech | 2023 #41
Weekly news up to Wednesday, 18th of October 2023
👀 NEWS HIGHLIGHT
The collaboration aims to strengthen AirPak's Anti-Money Laundering (AML) program, a crucial step towards ensuring trust in global remittances.
💡INSIGHTS
The metrics make these three Asian countries among the top five biggest users of digital banking, alongside Brazil, the world leader at 43%, and Ireland, which ranked third at 22%.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Fiserv buys Brazil's Skytef.
⭐️ Berkshire Hathaway sees 93% gain from Nubank investment in 2023.
⭐️ CAF launches call to fund fintech focused on migrants.
⭐️ Thales has partnered with SoyYo on a solution that integrates passkey technology.
BRAZIL
Yooga raised its first institutional funding of $2.3 million in seed capital. The round was led by SaaSholic with participation by Gilgamesh, Apex Partners and Backfuture.
Mercado Pago has crossed 2.5 million consents in employing Open Finance, a system steered by the Central Bank which allows the sharing of financial data among institutions with customer approval.
Pluggy is integrating a "conector" into the regulated environment established by Brazil’s Central Bank (BC), allowing its clients to enjoy the benefits of regulated Open Finance with a single click via the same API.
CondoConta has secured a significant investment of R$30 million in a funding round led by EXT Capital.
Belvo aims to double its account connections in Brazil by the end of 2023.
Laqus raises USD$1.9M and prepares a round to raise further investment in Brazil.
ARGENTINA
Belo has introduced a new feature designed to simplify financial tasks for individuals working abroad. Now, all Belo users can have an account in the United States, enabling them to receive transfers via ACH (Automated Clearing House).
COLOMBIA
Pronus joins forces with Págame. This strategic alliance aims to equip entrepreneurs with an array of services and products, typically confined to physical stores, directly through their mobile devices.
Credibanco and Koibanx announced a partnership to enhance interoperability in the Colombian financial sector using blockchain technology. This collaboration aims to convert Credibanco's payment network into a recipient of various assets, such as loyalty points, gift cards, and vouchers.
MEXICO
Ualá has introduced two significant enhancements for its users in Mexico. Firstly, customers will get a 5% cashback on purchases made with their debit or credit cards, service payments, and airtime top-ups.
Nexu has secured a $20M investment to expand its financing platform.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.