👀 NEWS HIGHLIGHT
Founded in Aracaju, the capital of Sergipe, around eight months ago, baasic is betting on an "agnostic" platform for technological infrastructure in financial services, far beyond traditional banking as a service (BaaS).
The FinTech company has set up a financial solutions marketplace, with products and services from various banks, issuers, payment providers and even insurance companies.
The aim is to boost embedded finance. The initial focus is mainly on companies in the education and agribusiness sectors. But the idea is not to be restricted to these industries.
"We put together a 'Lego' that makes sense for the client's business," says Helom Oliveira, one of baasic's founders and former president of Banco do Estado do Sergipe (Banese). He is joined by Luciano Passos, Banese's former CIO.
📰 ARTICLE
💡INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Nu now allows customers to deposit and withdraw Bitcoin.
⭐️ Google Pay, Google's digital wallet, is now able to operate as a payment initiator within the Open Finance framework in Brazil.
⭐️ Nubank's NuInvest gets green light to operate in foreign exchange.
⭐️ Colombian Paytech OnePay raises US$1.3 million to further strengthen its Whatsapp payment integration platform.
BRAZIL
FinTech Brasil Cash receives authorization from the Central Bank to become a payment institution in Brazil. The authorization allows the company to operate as an issuer of electronic money, i.e. it allows the management of prepaid accounts.
The President of Banco do Brasil and Revolut emphasized the importance of addressing consumer issues in the most pleasant manner possible for them - whether they are in the remote areas or in the Brazilian metropolises.
Nubank’s finance chief on the Brazilian bank’s three-pillar approach to growth. Guilherme Lago became CFO at São Paulo, Brazil-headquartered Nubank in February 2021, 10 months before the fintech giant went public with a valuation of more than $40 bn.
COLOMBIA
Colombian FinTech Finaktiva launches platform that enables companies to manage their treasury processes. This solution promises to impact the way companies organize and control their finances.
Banco de la República de Colombia launches new central securities depository. This deployment marks a significant milestone in modernizing the Colombian financial market infrastructure.
MEXICO
Nu announced that it will increase Nu Mexico’s equity capitalization by US$100 million, raising its investment in the country to over US$1.4 b𝗶llion dollars.
FinTech Revolut bets on Mexico growth, expects remittances as driver. Revolut expects strong growth prospects in Mexico where it aims to dedicate/invest more than $100 million this year.
ECUADOR
Kamina, an Ecuadorian FinTech developing a financial prevention app, concluded a pre-seed round of US$3.2 million, becoming a record investment in Ecuador. This financial backing will enable the firm to solidify the launch of its financial prevention platform with Artificial Intelligence (AI).
CHILE
Chilean FinTech Toku announced the raising of US$9.3M to consolidate its presence in Chile, accelerate its development in Mexico and land in Brazil. Toku optimizes collection processes in underwriting companies, insurance companies, credit companies, among others.