LATAM FinTech | 2024 #20
Weekly news up to Wednesday, 15th of May 2024.
INFOGRAPHIC
👀 NEWS HIGHLIGHT
Flexibility: Allows customers to spread the cost of their purchases into smaller, more manageable payments.
Financial control: Provides greater control over spending and helps avoid over-indebtedness.
Access to more products and services: Allows customers to make purchases they could not otherwise afford.
📰 ARTICLE
💡INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Brazilian Neobanco PicPay launches an account for minors.
⭐️ Nu released it’s Q1 2024 earnings.
⭐️ Bolivia and Ecuador cling to cash while Chile and Brazil lead digital payments.
⭐️ The rapid evolution of payments in Latin America.
BRAZIL
Brazilian FinTech Accounts Surge 77%, Surpassing Population Count. A Zetta survey reveals Brazilian FinTechs now manage over 251 million individual accounts, driven by diverse consumer benefits.
FacilitaPay Secures Historic Partnership with Webull to Enhance Cross-Border Payments in Brazil. This collaboration marks a significant milestone as FacilitaPay will provide Webull customers with local funding rails in Brazil.
Brazilian FinTech Grupo Bloxs raised an undisclosed amount from neobank BS2. Bloxs will use the funds to further develop its Capital Market As a Service (CMaaS) platform.
COLOMBIA
Anzi, based in Madrid and Bogotá, marks a milestone in the financial world by introducing its innovative solution of tokenized guarantees specifically designed for FinTechs focused on the SME segment.
RapiCredit, a Colombian FinTech, announced that it will soon finalize a partnership agreement to enter the Peruvian market and expand its operations there.
Colombia’s banking sector is facing a major overhaul as economic pressures lead to losses, stirring a flurry of potential mergers and acquisitions. Escalating interest rates and persistent inflation have caused 12 out of 29 banks to experience losses.
MEXICO
Openpay, the payment platform of BBVA Mexico, has formed an alliance with Kueski, a company dedicated to providing personal loans, to expand electronic payment options for businesses in Mexico.
FinTech Platform Plata Card Secures $100M Credit Line to Enhance Personal Finance Services Accessibility in Mexico. Plata seeks to redefine the financial landscape for consumers in Mexico. Leveraging cutting-edge technology
Aplazo, an omni-channel payment platform that offers flexible payment solutions and commerce enablement tools, announced today the closing of $70 million of additional equity financing, including a $45 million Series B.
PERU
FinTech Máximo and Banco Alfin introduced a savings account in Peru, using a Banking as a Service model. The partnership aims to enhance Máximo’s customer acquisition, while allowing the bank to position itself as a specialized entity for FinTechs in a country where regulation for new digital players is just starting to develop.