Paytrack Raises $40M Series B led by Riverwood Capital
Weekly news up to Wednesday, 29th of January 2025.
👀 NEWS HIGHLIGHT
The soon-to-be-released recurring payments feature of Brazil’s payment system, Pix, is reportedly expected to draw $30 billion in eCommerce payments alone to Pix in two years.
The recurring payments feature, Pix Automático, is expected to launch in June and will allow users to automate the payment of utilities, streaming services and other recurring bills, Reuters reported, citing FinTech company and early Pix Automático adopter Ebanx.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Coinbase Gets Green Light for Debut in Argentina.
⭐️ Paytrack raises $40M Series B led by Riverwood Capital.
⭐️ Bybit Launches Bybit Pay in Brazil to Enable Crypto and Fiat Payments.
⭐️ PayMon raises $600K pre-seed round led by Magma Partners.
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BRAZIL
P2P selects Mbanq to simplify banking for Brazilians in the United States. CEO of Mbanq said, "This partnership demonstrates Mbanq’s commitment to empowering FinTech platforms to achieve their vision. Mbanq provides the necessary technology, compliance expertise, and scalability to help P2P deliver secure and flexible financial solutions."
Pix transactions exceed 6 billion monthly. Matera has released its latest Pix by the Numbers report, showcasing the remarkable growth of Brazil’s Pix payment system and its innovative developments for 2025. The report covers data through Q4 2024, revealing that Pix continues to outpace credit and debit card usage.
PagBrasil received authorization from Brazil’s Central Bank to operate as a regulated Payment Institution (PI). This approval allows the company to act as an electronic money issuer, enabling it to manage prepaid payment accounts. With this license PagBrasil plans to roll out new products and features.
MEXICO
Nu Mexico reaches 10 million customers, doubling its customer base in one year. Thanks to its 100% digital model, Nu has reached over 98% of the municipalities in the country, including communities without bank branches, where many had never interacted with the traditional financial system.
Clara becomes a SOFOM to strengthen financial solutions for businesses. Clara has officially been authorized as a Multiple Purpose Financial Institution in Mexico. This milestone enables Clara to provide more competitive payment and financing solutions for its clients.