TepMed Raises $3.6M From SRM Ventures
Weekly news up to Wednesday, 28th of August 2024.
👀 NEWS HIGHLIGHT
MercadoLibre Inc. accused Argentine banks of “illegally concentrating” under one payments platform as an anti-competitive tactic against the company’s FinTech arm.
Latin America’s largest company by market valuation filed a legal complaint before Argentina’s National Commission in Defense of Competition after banks under their shared platform MODO filed their own legal complaint in May alleging similar anti-competitive strategies by the firm’s Mercado Pago.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ TepMed raises $3.6M from SRM Ventures.
⭐️ Colombian FinTech investments surged taking four top 10 deals in H1.
⭐️ Clara advances with Pix, invests in AI and launches batch payments.
⭐️ MercadoLibre's FinTech launches its own dollar-backed 'stablecoin' in Brazil.
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BRAZIL
Nubank has finalized negotiations for seven new agreements to expand the offering of NuConsignado, its 100% digital payroll loan service. The new contracts include the three branches of the Brazilian Armed Forces—the Brazilian Air Force, Navy, and Army—as well as the municipalities of São Paulo, Rio de Janeiro, and Belo Horizonte and the state of Paraná.
Lux Capital made its first investment in Brazil, a $4M seed for AI FinTech Magie. The company, which has raised $5.1 million in total, is creating an AI-powered financial assistant. The current product allows people to send money and pay bills through WhatsApp.
MEXICO
Shiji and FreedomPay announce partnership to transform Mexican hospitality payment solutions. This partnership underscores the companies’ commitment to enhancing staff and guest experiences in Latin America's hospitality business, in line with the industry's move toward streamlined payments and payment management.
URUGUAY
Topper by Uphold and dLocal join forces to expand payment flexibility in emerging markets. The alliance will drive economic growth in emerging markets by offering local payment options. Read on