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June 1, 2021

On the web

Kushki, an Ecuador-based Fintech, Raises $86M to Build Financial Infrastructure in Latam


“Just about every week there’s a blockbuster round coming out of South America, but in certain countries such as Ecuador, things have been more hush hush. However, Kushki , a Quito-based fintech, is bringing attention to the region with today’s announcement of a $86 million Series B and a $600 million valuation…Unlike many other fintechs in Latam that are out to help the unbanked, Kushki works behind the scenes building the tech infrastructure that companies like Nubank use to transfer money. Some of the functionalities they build enable both local and cross-border payment players in credit and debit cards, bank transfers, digital cash, mobile wallets, and other alternative payment methods.”

May 25, 2021

On the web

Unicorn Ebanx Readies IPO Eyeing More Acquisitions in LatAm


“Brazilian unicorn Ebanx SA kicked off preparations for a potential U.S. listing as the fintech moves ahead with an ambitious plan to expand its payment processing solutions across Latin America, including a new platform integrating cross-border and local transactions. The so-called Ebanx One, which combines different payment methods into a single system, pledging to unwrap red tape for both international and local customers in the region, is a major step toward an initial public offering, most likely in the U.S., Chief Executive Officer and co-founder Joao Del Valle said.”

May 17, 2021

On the wires

Mastercard, Mercado Libre, Common Cents Lab, and IDB Join Forces to Improve Financial Resilience Among Entrepreneurs and Gig Workers

“A new initiative in Latin America supported by Mastercard, Mercado Libre, the IDB’s Retirement Savings Laboratory , and Common Cents Lab, a financial behavior research lab at Duke University, seeks to use behavioral science to help entrepreneurs and SMEs in the region make better financial decisions. According to the IDB’s COVID-19 Labor Market Observatory , during the COVID-19 pandemic, more than 31 million people lost their jobs in Latin America, and the United Nations anticipates the worst recession for the region in a century. Small- to medium-sized enterprises (SMEs) and entrepreneurs who are actively working, or those who are deciding to enter the digital economy at this stage, must have sufficient financial resilience to overcome this period and be even better prepared to weather financial shocks.”

May 13, 2021

On the web

March 22, 2021

On the web

Homebrew Backs Higo’s Effort to Become the ‘Venmo for B2B Payments’ in LatAm


“The B2B payments space has been on fire for a while, and the COVID-19 pandemic has only fueled mass adoption of digitizing finances. In regions like Latin America, the need for innovation in the sector is even more paramount than in the United States with so many people still relying on outdated processes. One Mexico City-based startup, Higo.io , is out to transform B2B payments for SMBs (small and medium-sized businesses) in Latin America, starting with its home country.”

March 11, 2021

On the wires

Galileo Financial Technologies Accelerates Expansion and Opens Latin America Headquarters and Innovation Center in México

“Galileo, the API standard for card issuing and digital banking and a leading technology platform subsidiary of Social Finance, Inc. (SoFi), today announced the opening of a Latin America headquarters and innovation center in the iconic Torre Reforma building in Mexico City. The move follows the incorporation of Galileo’s Mexican subsidiary and the initial opening of its first office outside the U.S. in Mexico City last year.”

March 5, 2021

On the web

Arcus Announces Arcus Pay: Payment Track That Converts Points Of Sale Into ATMs


Arcus, the leading fintech platform that makes financial technology possible for everyone, announces the launch of Arcus Pay, a payment track through which a network of 60 thousand retail points of sale will offer Cash-in and Cash-out transactions for consumers of fintechs and neobanks. Arcus Pay allows you to transform physical money into digital money and make cash deposits, cash withdrawals and payment of products in physical stores with money from digital wallets. Companies will be able to provide banking-like services to the underbanked or unbanked population, thus paving the way for financial inclusion.”

February 26, 2021

On the wires

Lightspeed Partners With DLocal to Power Payments for Independent Merchants in Mexico

dLocal , the foremost payment platform connecting global merchants to emerging markets, and Lightspeed (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce platforms, today announced a new partnership. The collaboration will allow Lightspeed merchants to accept local payment options across Latin America as the small business market in that region undergoes a rapid digital transformation.”

December 1, 2020

On the web

EBANX Partners with PicPay to Offer New Payment Option in Brazil

The Fintech Times

“EBANX, a Latin American fintech specialised in local payment solutions for global merchants, has partnered with PicPay, the largest digital wallet in number of users in Brazil, to offer a new payment option in the country. International companies that adopt EBANX’s solutions to sell in Brazil through digital payment accounts can now offer PicPay as one of its payment options, expanding their Total Addressable Market in the largest economy in Latin America, and giving access to millions of Brazilians to global products and services.”

November 19, 2020

On the web

Mastercard & Juvo to provide financial services to underbanked consumers in Latin America

Financial IT

Juvo, a pioneer of financial identities for the underbanked, today announced a new partnership with Mastercard. Juvo was accepted into Mastercard’s global fintech startup engagement program, Start Path, last August. Now, Juvo is collaborating with Mastercard’s Latin America and Caribbean (LAC) team to introduce its FiDaaS (Financial Identity as a Service) platform to hundreds of financial institutions across the region. FiDaaS will enable these institutions to confidently serve a much broader base of customers and drive financial inclusion.”

November 3, 2020

On the wires

October 16, 2020

On the web

October 13, 2020

On the web

Hoping to be LatAm’s Top Digital Bank for SMBs, Xepelin Launches a Lending and Revenue Management Service


“There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses. Financial services have been a huge opportunity for startups coming out of Brazil, Colombia and Mexico in recent years, and now Xepelin , a new company from Chile, is looking to join the fray.”

October 9, 2020

On the web

Colombian Fintechs Fill Latin American Banking Gaps

Financial Times

“When it comes to smartphone apps, banks in Latin America have been behind the curve. Movizzon, a Colombian fintech company, is helping them change that. The company buys thousands of smartphones into which it installs two apps: its own, and that of its bank clients. Movizzon’s app then takes control of the dummy phones, logging into the banks’ apps every couple of minutes and making transactions, like transferring money or paying off a credit card.”

August 21, 2020

On the web

Latin American mega-retailer reaches underbanked with cross-brand financing app


“Unicomer Group, Latin America’s equivalent of Best Buy, has teamed up with YellowPepper to develop a digital credit app that acts as a financial services center for underbanked and unbanked consumers. The Emma (Easy Mobile Money Access) app enables customers to apply digitally for multi-purpose installment loans and spend the funds at Unicomer stores and at third-party retailers that accept Emma. Cash loans, bill payments, loyalty programs, digital credit cards, online shopping, and Visa-powered P2P payments are all on Unicomer’s future road map for Emma.”

August 11, 2020

On the wires

Rapyd and PayMyTuition partner to enable students across Latin America and Asia Pacific to make international tuition payments in minutes

“Rapyd, a global Fintech as a Service company, announced today a partnership with PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments, that expands PayMyTuition’s ability to accept payments via bank transfers from several countries in Latin America and Asia Pacific through Rapyd’s platform, using a single API integration.”

July 7, 2020

On the web

MercadoLibre Tops $50 Billion in Value Amid E-Commerce Boost


“Shares of Latin America’s largest e-commerce marketplace MercadoLibre Inc. climbed above $1,000 for the first time as online sales surge in the region amid the coronavirus pandemic. Up 78% this year, MercadoLibre has benefited from a growing number of consumers that are either buying online for the first time or increasing the frequency of their purchases because of virus-related lockdowns. The company said gross merchandise volume growth accelerated to 73% in April and UBS Group AG pointed to even stronger figures for the industry in May, citing data from Nielsen’s e-commerce researcher Ebit.”

June 10, 2020

On the wires

Colombian Point of Sale Financing Platform ADDI Raises $15 Million Series A Extension

“ADDI, a Bogota-based provider of point of sale (POS) financing solutions for Latin America, today announced the close of an equity financing of $15 million. The round was led by Quona Capital, a venture firm focused on fintech in emerging markets, alongside existing investors Andreessen Horowitz and Monashees, and new investors S7 Ventures, Foundation Capital and DST partner Tom Stafford. The new funding will be used to grow ADDI’s business in Colombia and to expand to new Latin American markets.”

June 10, 2019

On the web

3 Biggest Fintech Trends Shaping Latin America

Crowdfund Insider

“Latin America is one of the fastest-growing regions in the world for mobile usage. In fact, the region ranks third for smartphone adoption globally, behind North America and Europe In 2017, the percentage of the Latin American population with smartphones hit 61% , and LAVCA predicts it will reach 76% by 2025. In Brazil, for example, there are almost as many smartphones as there are people. There are approximately 198 million smartphones in use in Brazil, while the current population is just over 200 million.”

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