Fintech every week: Investment funds to grow the sector in the continent
We have new investment funds with a focus on Latam —now, please, show us the money. Brazilian fintechs are growing, and a Mexican fintech will make life easier for small businesses.
Welcome to our weekly newsletter covering the latest news and trends in the Latin American fintech scene.
QED Investors’ $1B capital boost offers hope for LatAm fintech
Last month, QED Investors caused ripples in fintech when it raised short of $1 billion to deploy in the sector, the latest illustration of underlying trends in the industry that remain in place despite the more challenging environment. (No, Spanish-speaking readers, it's not related to the acronym QEPD. This is good news.)
The global fintech venture capital firm set up two new funds. An oversubscribed USD$650 million fund will focus on early-stage companies, while a second USD$275 million fund will target later-stage startups. While these funds will have a global focus, Latin America will remain a “significant part” of QED’s focus, partner Mike Packer said in an interview with Fintech Nexus.
This news breathes renewed optimism into a startup landscape challenged by limited capital availability. While Latin America experienced a surge in fintech investments in recent years, the tide shifted abruptly last year, hindering the region’s funding prospects.
Vía Fintech Nexus News
Quick News
Kanastra, the Brazilian fintech, raises USD$13 M in a seed funding round. The Kanastra platform offers a wide range of services that span from fund administration to debt issuance, allowing clients to free themselves from spreadsheet management, complex documents, and legacy systems. (Contxto)
Euronet to Increase Visibility for Its Ren Payments Platform in Latin America and the Caribbean Through Mastercard Engage and Fintech Express Programs. Euronet, a leading global financial technology solutions and payments provider, today announced it is joining the Mastercard Fintech Express and Mastercard Engage programs in Latin America and the Caribbean (LAC), which connect fintech businesses with qualified service providers and accelerate the launch of new card programs. (MarketScreener).
Belvo, FICO expand credit access in Brazil via Open Finance. Analytics software company FICO has announced a partnership with Open Finance data and payments platform Belvo set to expand credit access in Latin America.
The score is set to be available in Brazil later in 2023. (The Paypers)
Business Intelligence transformed as ThoughtSpot acquires Mode Analytics for USD$200 M. ThoughtSpot, the trailblazing AI-Powered Analytics firm, has announced its definitive agreement to purchase Mode Analytics, the modern BI platform that integrates data and business teams to amplify impact, in a cash and equity transaction valued at USD$200m. (RH Digital).
Preparing DiMo for business payments. Users of the Interbank Electronic Payment System (SPEI) are getting ready to start using the new mobile money transfer platform called Dinero Móvil (DiMo) by Banco de México. DiMo has already started operating among some players and has the potential to enable small businesses to accept digital payments using only a phone number. (El Universal)
Fintech Education
Finnosummit 2023. ICEX and the Economic and Commercial Office of Spain in Mexico have opened the call for participants to fully explore the Mexican Fintech ecosystem through a comprehensive immersion program and create synergies within the framework of FINNO SUMMIT 2023. You can register here.
International Diploma in eBusiness and Electronic Commerce - Online. Targeted at entrepreneurs, merchants, students of economics and marketing, and professionals in the field, it offers comprehensive training in e-commerce, its characteristics, advantages, and the foundations on which it has thrived in the marketing and business environment.
Three Points Master's in Fintech and Financial Innovation. The Master's in Fintech and Financial Innovation by Three Points provides a response to the new job landscape that emerging technologies are bringing to companies and organizations in the financial sector worldwide.
Food for Thought
FinTech B2B Marketing at Money20/20 Europe – Top tips for your fintech marketing strategies
At this year’s Money20/20 Europe conference in Amsterdam, FinTech Futures caught up with Payal Raina, Founder of FinTech B2B Marketing, to discuss the best strategies to succeed with your fintech marketing strategies and top tips for marketers this year and beyond. (Fintech Future)
Jobs
Co-Founder e shareholder @ PayBond (expected to work remotely)
Head of User Research @ N26 (Viena, Austria, expected to hybrid work)
Director, Sales (Corporate) @ Billtrust (expected to work remotely)