THIS WEEK’S FUNDING NEWS OVERVIEW
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
👀 NEWS HIGHLIGHT
Nubank released its Q4 2022 Earnings Presentation with some very impressive numbers🚀
Key takeaways:
👉 4.2 million more customers in Q4’22 and 20.7 million in 2022 reaching a total of 74.6 million customers globally (+38% YoY).
🇧🇷 70.9m customers in Brazil,
🇲🇽 3.2m customers in Mexico,
🇨🇴 565k customers in Colombia,
+ 2.5m SME customers.
😎 SPONSORED CONTENT
Fintech Meetup is Q1’s BIG new event! Find new leads and partners. Meet everyone you need to meet in 30,000+ double opt-in meetings. Hear from 250+ speakers. See 200+ sponsors & Exhibitors and network with 3,000+ other senior level fintechers. At the Aria, Las Vegas March 19-22. Get ticket!
📰 ARTICLE
Portão 3 was founded as a corporate travel startup in 2020 and released its product just as COVID hit Latin America and all airports closed. Pereira and fellow founder Fernando Nery concluded that the software that Portão had built could still be used to help enterprise businesses with corporate spending generally.
👉 Read the How one Brazilian startup’s pivot to corporate cards has paid off article by Techcrunch
💡INSIGHTS
Why are layoffs occurring in (Fin-)Tech?
Factors contributing to the increasing number of layoffs include the improvement of Artificial Intelligence tools, a shift in business focus, tighter budgets caused by the pandemic or lack of investor funding, restructuring, unsustainable growth, and a merger or acquisition.
👨💻 BLOG
In recent years, Latin America has seen an explosion of FinTech start-ups, investors, and entrepreneurs looking for a way to capitalize on the growing population and the digital transformation of the region.
In this Volume 1 blog post for LATAM by C-Innovation, they explore the LATAM FinTech Ecosystem covering LATAMs activity distribution, IPO, M&A, and more importantly investment analysis over Brazil and other LATAM regions.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Open Banking payments transaction values will exceed $330 billion globally by 2027, up from $57 billion in 2023.
⭐️ QUASH.ai closed a $3.7 million seed round to expand its services to LATAM.
⭐️ Qredo partnered with DitoBanx, a neobank for the unbanked in Latin America.
⭐️ Ualá will begin offering credit cards in Mexico through its alliance with ABC Capital.
FinTech Meetup in Vegas is just around the corner and I will start and close it with a bang. Join me and let's do this together!
ARGENTINA
Argentina will require solvency proof from Crypto firms after FTX debacle. The regulation will focus on exchanges, not tokens.
Regional users were heavily affected by the FTX meltdown, with some of the largest local crypto exchanges seeing withdrawals of as much as 25% of their deposits, according to a person with knowledge of the matter.
MEXICO
Foreigners with official permanent or temporary residence in México who are registered with the tax authority will now be able to get a mortgage loan online with Yave, a company that grants digital mortgage loans.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.