Flex secures $20m in equity and $100m in debt funding as part of Series A round
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
South America
The latest fintech news, resources and expert analysis in South America by the leading intelligence provider for the worldwide fintech community.
JP Morgan Chase increases stake in Brazilian digital bank C6 to 46%
The US bank first bought a stake in C6 in June 2021.
Citi debuts first LatAm fintech investment with stake in Peruvian FX platform Rextie
Rextie becomes Latin America’s first FX fintech to receive an investment from Citi.
Brazilian fintech Nomad secures $61m in fresh funding
The funding was led by Tiger Global Management, with participation from existing investors
Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
DLocal appoints Pedro Arnt as co-CEO amid reports the firm is exploring a potential sale
Arnt is to join current CEO Sebastián Kanovich to lead the firm’s future endeavours.
Private debt platform Cordada taps Thought Machine for core banking tech
The Chilean firm will use Thought Machine’s Vault Core to develop personalised financial products.
UK fintech Rapyd snaps up PayU GPO in $610m deal to boost global expansion
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
Demystify Podcast: Core banking modernisation and BaaS with Miguel Santos and Dave Feuer, Galileo
Real examples of several innovations only made possible by a modern core, and more!
N26 reportedly cuts 15% of Brazilian workforce
N26 Brazil has laid off around 20 staff, according to local news outlet Estadao.
Santander reportedly looks to boost investment banking operations with new hires
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Visa to acquire payments and banking platform Pismo for $1bn
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
Puerto Rico’s Segura Bank taps Temenos to power new digital bank offering
The new digital banking platform for Latin Americans is expected to go live in the coming months.
Colombia’s central bank taps Ripple to test blockchain use cases
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Mexican fintech Stori secures $50m debt capital from CIM
For Stori, it is the second debt facility from CIM, following a $75m debt facility in November 2021.
LatAm paytech Bamboo names Francisco León as its first CEO
Bamboo believes it is in “a unique position” to capitalise on the growth in the digital payments space in the region.
LatAm fintech start-up Kiwi secures $80m in funding
With the funding, Kiwi plans to introduce new products and reach more customers across US and Latin America.
LatAm paytech start-up Liquido launches from stealth with $26m in funding
The firm says its payments infrastructure will “modernise and democratise” digital payments for LatAm businesses.
UK fintech Revolut marks Latin America debut with Brazil launch
Revolut will initially offer a multi-currency account and crypto investing for customers.
Bunker taps InvestCloud to launch digital investment platform in LatAm
Bunker will make it easier for LatAm consumers to open and manage US investment accounts.
LatAm open finance platform Belvo acquires Brazilian paytech Skilopay
The deal will see Belvo become “the most complete” account-to-account (A2A) payments provider in Brazil.
Mexico’s Clara secures $60m in equity funding round led by GGV Capital
Clara has now raised a total of $160m in equity funding since it began operations over two years ago.
Demystify Podcast: Demystifying social media in banking with Paula Rothman, Nubank
Paula Rothman, Nubank’s social and content lead, explains how the challenger bank harnesses the power of social media.
Zenus Bank acquires FUEX Payments for undisclosed sum
Founded last year and based in Puerto Rico, FUEX Payments operates in the Caribbean and Latin American markets.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
Dominican Republic’s first neobank launches on Temenos Banking Cloud
Qik’s CEO says they chose Temenos owing to its “successful track record” across Latin America.
Mexican fintech Clara secures up to $90m in debt financing
The fresh financing follows a $150 million debt facility from Goldman Sachs in August last year.
Nubank appoints former Meta crypto head David Marcus to board
Marcus previously spent seven years at Meta and co-created the firm’s cryptocurrency Diem (formerly Libra).
Brazilian central bank gives Meta the go-ahead to launch WhatsApp business payments feature
Customers will soon be able to make payments to small businesses directly from WhatsApp.
Thunes appoints Victor Lucena as new head of Latin America
Lucena has previously worked for financial services firms including Binance, Rapyd, Worldpay and PayU.
Power to the people: How Zenus Bank aims to democratise access to banking
FinTech Futures sits down for a chat with Mushegh Tovmasyan, founder of Zenus Bank.
Trade financing platform Marco lands $200m credit facility, $8m equity
Marco says the combined funding will support its ambition to “close the $2 trillion global trade finance gap”.
Ecuador’s first digital bank goes live with Temenos core
Diners Club Ecuador has gone live on Temenos’ cloud-native banking platform with AWS.
Inter&Co acquires real estate investment start-up YellowFi
Inter&Co provides financial services through its ‘super-app’ to more than 25 million users.
Swift names Stephen Grainger as chief executive for Americas and UK
Grainger brings 20 years of banking and payments experience to his new role.
