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
Thunes, a global cross-border payments company, today announced the appointment of Victor Lucena as the company’s new Head of LATAM.
He will be based in São Paulo and will oversee all aspects of Thunes’ Latin American operations, leading Thunes’ team and growth strategy in the region.
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📊 INFOGRAPHIC
Key Mexican🇲🇽 FinTech investment stats in 2022:
👉 Mexican FinTech funding reached $567m in 2022, a 69% drop from 2021 levels.
👉 Mexican FinTech companies raised 89 deals in 2022, a 23% drop from the previous year.
👉 PayTech was the most active FinTech subsector in 2022, with an 18% share of total FinTech deals.
🧐 ANALYSIS
While the story of public market FinTech over the last three years has been perplexing, a retrospective analysis reveals a few simple lessons.
It’s an understatement to say that we saw a massive loss in value across FinTech companies from peak to trough.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Auriga announced a partnership with CMS Business Solutions, to collaborate on self-service banking technology for the Ecuadorian market.
⭐️ Marco received a $200 million credit facility from MidCap Financial and Castlelake.
⭐️ Belvo launched a new solution that aims to improve the user experience offered by merchants and fintechs using Pagos Seguros en Linea.
⭐️ Banco do Brasil released a statement announcing that Brazilian taxpayers will now be able to settle their dues using crypto.
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BRAZIL
MercadoLibre reported a fourth-quarter net profit of $164.7 million, recovering from a loss a year earlier and beating forecasts on the back of strong growth from its fintech unit.
MEXICO
ThetaRay announced that Tudi chose ThetaRay’s cloud-based AML solution to monitor its transactions in Mexico for financial crime. ThetaRay will provide Tudi with its SONAR SaaS solution for AI-powered transactions.
Plerk and Minu announced that they are merging, Minu will integrate Plerk’s digital prepaid employee benefits card into its services, further bolstering its employee benefits platform.
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