Weekly LATAM FinTech Newsletter powered by Marcel van Oost
Marcel van Oost - LATAM FinTech News
Connecting the dots in FinTech...
REPORT
In this eighth edition, Finnovista has identified 234 new startups originating from Mexico, along with 217 foreign companies now operating within the country, bringing the total to nearly a thousand solutions.
Of particular note is that 44.6% of the products and services offered by Fintech cater to segments of underbanked or unbanked individuals and businesses.
?? NEWS HIGHLIGHT
ACI Worldwide, a global leader in mission-critical, real-time payments software, today announced an extension of its longstanding partnership with Kuvasz Solutions, a leading Latin American provider of professional services for the payments industry, to advance the adoption of Colombia’s new domestic real-time payments ecosystem, announced by ACI and the Colombian Central Bank in December 2023.
Kuvasz Solutions has partnered with ACI Worldwide in Latin America for nearly 10 years, supporting the delivery and implementation of ACI’s payment software solutions to strategic clients across the payments ecosystem.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? REGIONAL HIGHLIGHTS
?? Ride-share app inDrive launches loan, credit card offering for drivers in Mexico.
?? 2-year-old LatAm fintech Yuno reaches $150M valuation with backing from DST, Tiger, a16z
?? Neobanco Hey receives authorization to become a member of Banregio Grupo Financiero in Mexico
?? Ziff Acquires Arrenda, Targets MX$1 Billion in Loans By 2027
BRAZIL
Fintech PagHiper receives green light from Brazil's Central Bank to operate as a payment institution. This authorization allows PagHiper to engage in the issuance of electronic money and manage prepaid payment accounts.
MEXICO
Mexican microlending fintech Baubap raised US$120M to attract up to 1.4M new clients. The startup focuses on audiences that are underserved by traditional banking or have few formal options for accessing financing for small business loans.